Appendix A: Maximum permitted post-origination fees Fee VA Residential Bank of America Wells Ocwen Credit (BoA) Fargo Solutions (RCS) $350 $350 Not disclosed $95-250 $200 Fee Assumption $300 $350 Not disclosed Not $1300 Fee disclosed Partial $350 $350 NA NA $500 Release Fee Payment by $10 $9-12 $15-20 $0-20 $12-19.50 Phone Fee Payment $12 $9-12 $15-20 $0-20 $12-19.50 with a Release of $15 $15 Not disclosed Not Varies by Lien Fee ($100 when pay disclosed off/refinance loan) Payoff $30 Not $30 (expedited) $5-10 $30 Statement disclosed Fee (Attachment 2) Memorandum Department of Veterans Affairs Date: August 9, 2016 From: Acting Financial Officer (24) Subj: AP32(P) - Vendee Loan User Fees and Servicing Expenses To: Director, Loan Guaranty Service (26) 1. The Office of Resource Management (ORM) reviewed a description of the rulemaking for new vendee loan user fees from the Analysis for RIN “Impact narrative. The rulemaking prescribes the regulatory authority under which the Secretary of the Department of Veterans Affairs (VA) collects reasonable user fees in connection with the origination and servicing of vendee loans. The proposed loan fees
Appendix A: Maximum permitted post-origination fees Fee VA Residential Credit Solutions (RCS) Bank of America (BoA) Wells Fargo Ocwen Fee $350 $350 Not disclosed $95-250 $200 Assumption Fee $300 $350 Not disclosed Not disclosed $1300 Partial Release Fee $350 $350 NA NA $500 Payment by Phone Fee $10 $9-12 $15-20 $0-20 $12-19.50 Payment with a $12 $9-12 $15-20 $0-20 $12-19.50 Release of Lien Fee $15 $15 Not disclosed ($100 when pay off/refinance loan) Not disclosed Varies by Payoff Statement Fee $30 Not disclosed $30 (expedited) $5-10 $30 (Attachment 2) Department of Memorandum Veterans Affairs Date: August 9, 2016 From: Acting Financial Officer (24) Subj: AP32(P) - Vendee Loan User Fees and Servicing Expenses To: Director, Loan Guaranty Service (26) 1. The Office of Resource Management (ORM) reviewed a description of the rulemaking for new vendee loan user fees from the “Impact Analysis for RIN narrative. The rulemaking prescribes the regulatory authority under which the Secretary of the Department of Veterans Affairs (VA) collects reasonable user fees in connection with the origination and servicing of vendee loans. The proposed loan fees
RegMgmt_ImpactAnalysis_AP32_LoanGuaranty_VendeeLoanFees.docx