The Specialists in Private Money Loan Servicing for Lenders and Institutions

Services Included with Every Account

When the principal balance of the account is less than $500,000, the monthly fee is $35, $20 paid by the Lender, and $15 paid by the Borrower.

The following services are included for all of those accounts

Services

Borrower Welcome Letter

Borrower Monthly Statement

Lender Welcome Letter

Lender monthly statement of all accounts

Same day payment posting

Daily disbursement of funds (after payments clear)

Electronic deposit of funds (ACH) into Lender’s account

Payoff demands

Releases and Reconveyances

IRS 1098 and 1099-INT Reporting

Late notices sent to borrowers at 15 and 30 days past due

Borrower inquiry calls handled

Assignments

Notice of maturity

Additional Services Available and Fees for those Services

Document or Service RequestedFee
New Loan Setup$200/account
Monthly Servicing Fee: Loan Amt. $500,000 or less$20/month
Monthly Servicing Fee: Loan Amt. $500,000 or greater$30/month
Payment by phone: Check$20 per transaction
Payment by phone: Credit Card/Debit3% of total payment amount, minimum fee $20
NSF Fee$100/check
Payoff Quote$50 per request
Partial Release$200 per request
Certified Letter$20
Extension Processing Fee$250 for 3 months
$500 for 6 months
$1,000 for greater than 6 months
Extraordinary activities and special requests – 1 hour minimum$75/hour
Incoming Wire Fee$20
Forbearance Plan or Short Sale Negotiation$150
Demand for Payoff$50
Reconveyance Fees $35
Recording FeesVaries by County
VOM (Verification of Mortgage)$25
Transfer out Fee for Active Servicing Loans$80 per loan
Insurance Tracking Fee$120.00 for 12 mos.
Force Place Insurance Processing Fee$100
Property Tax Tracking ServiceAnnual Fee of $99 per parcel
Assignment Preparation & Recording$200 + Recording Fees

701 E Front Ave • Coeur d'Alene, ID 83814
Phone: (800) 630-9252
Fax: (800) 380-6492
Email: customerservice@lakecityservicing.com

Copyright ©2018 • Lake City Servicing