Mortgage Services III, LLC
5% RESPONSIBLE LENDING TEST
Typically INCLUDED fees:
Administration Fee
Amortization Schedule
Application
Assumption
Broker/Mortgage Broker Fee
Buy Down Subsidies
Cancel Closing
Closing Fee
Commitment
Copy or Photocopy Charges
Courier Fee
Disbursement or Check Issuance
Discount Points
Document Preparation Fee
Email
Endorsement Preparation
Escrow Fee
Fax Fee
|
Funding Fee
Interest
Lender Lock
Re-lock Fee
Extension Fee
Origination Fee
Processing Fee
Transmittal Fee
Tax Services Fee
Underwriting Fee
Wire Transfer Fee
Witness Signature
Yeid Spread Premium
US Patriot Act Search
MIP
USDA Fee
VA Funding Fee
VA Guarantee |
Typically EXCLUDED fees:
Appraisal
Attorney Fee
Credit Report
Flood Determination
|
Mortgage Insurance
Recording Fees
Title Charges
Transfer Fees
|
Mortgage Services III does not originate or purchase loans with origination charges or fees payable to a mortgage broker/lender which exceed five percent of the loan amount.
This test is separate from any State, County and City tests that may apply. Certain fees excluded in Mortgage Services III’s responsible lending test may be included in these tests. This test DOES NOT include third party pass-through fees. Fees such as appraisals, inspections, etc. will not be included in the test if it is documented on the HUD-1 Settlement Statement that the fee is being paid to the third party provider or to the broker for the third party provider. Any fee not reflected on this list should be assumed to be included in the calculation. Feel free to contact your MSI Account Executive regarding any questions.
MSI Corporate Headquarters --- Bloomington, Illinois
Phone: 309-664-9100
MSI Chicago Branch Office --- Oakbrook Terrace, Illinois
Phone: 630-396-3553
Updated 4/11/08
