Subordination Fee for Second Mortgages: $200. Agreement signed and recorded by junior lien holders to subordinate their liens to 21st Mortgage’s. (Not applicable for AL, IA, MN, MO, OH, WA, WV and WY.)
Late Fees: Lesser of 5% of past due payment amount after the 15th day of delinquency or per contract if permitted by state law. For New York loans secured at least in part by real estate, 2% of past due payment amount after the 15th day of delinquency or per contract.
Interactive Voice Response Payments (using automated phone system): $2.00.
Non-Sufficient Funds: Lesser of $20.00 or per contract. Assessed when a draft or check is returned by your bank due to insufficient funds in the account or when the account does not exist.
Attorney’s fees: Reasonable attorney’s fees for hourly work performed if 21st Mortgage has to rely upon an attorney to enforce its interest in the collateral or defend a claim. These may include attorney's fees for borrower bankruptcy filings or foreclosure/replevin proceedings.
Broker Price Opinion (BPO) Fee: Charged by broker if a BPO is needed to ascertain the value of the collateral for certain loss mitigation options or foreclosure sale.
Title Search Fee: Charged by title company or title examiner to determine condition of title prior to filing a foreclosure accepting a deed-in-lieu of foreclosure
Appraisal fees: Charged by an appraiser to ascertain the value of a property.