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Nairaland Forum / Nairaland / General / Investment / What Is A Servicing Fee? (77 Views)
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What Is A Servicing Fee? by BigTolulope(m): 10:48am On May 21 |
What Is a Servicing Fee? A servicing fee is the percentage of each mortgage payment made by a borrower to a mortgage servicer as compensation for keeping a record of payments, collecting, and making escrow payments, passing principal and interest payments along to the note holder. Servicing fees generally range from and annual rate of 0.25% to 0.50% of the outstanding mortgage balance that is paid monthly. |
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