Introduction
Standard origination fees help lenders automate and standardize key loan costs, such as placement, legal, and deposit fees. Customizing these fees improves financial transparency, reduces manual data entry, and ensures consistency across loan agreements. Advanced options allow for per-property charging and multi-payment distribution, making the fee management process more adaptable to different lending structures
Navigating to This Section
1. Click the Gear icon in the top-right corner to open Settings.
2. Select Company Settings.
3. Use the left-hand navigation menu to find and expand Loan Setup/Origination.
4. Locate Standard Origination Fees.
Tip: If you cannot access Standard Origination Fees, ensure you have the necessary permissions or check with your administrator.
Standard Origination Fees
Available Fee Types
Lenders can enable various fee types based on their business requirements.
Fee Type | Description |
Account Setup Fee | Enables an administrative setup charge within the loan. |
Admin Fee | Adds an administrative fee field for loan processing. |
Placement Fee | Allows charging a percentage of the loan amount with a minimum dollar value. Supports rate locking. |
Lender Fee | Enables the lender fee field in the loan setup. |
Deposit Fee | Adds the deposit fee field for tracking initial borrower payments. |
Lawyer Fee | Enables legal fee tracking for the lender’s legal costs. |
Site Inspection Fee | Sets a default site inspection fee. |
Appraisal Fee | Enables a default appraisal cost for loan processing. |
Legal Fee | Allows setting a predefined legal fee. |
Best Practice: Disable fields you don’t regularly use to keep the interface clean. You can always re-enable them later without losing historical data.
Advanced Fee Configuration Options
Setting | Description |
Multi-Payment Fee Collection | Allows select fees (e.g., origination, lender, and processing fees) to be collected over multiple payments. |
Estimated Title Fee for Fix & Flip Loans | Enables an estimated title fee for fix & flip loans under Commitment Details. |
Enable Custom Fee Estimates | Adds an Estimate checkbox next to custom fees for use in documents. Appears on the Commitment when enabled. |
Enable Custom Fee Per Property | Adds a Per Property checkbox next to custom fees, allowing fees to be applied across multiple properties in blanket or portfolio loans. |
Tip: For unique charges not listed, you can create custom fees under Settings > Default Fees to further tailor your loan origination costs.
FAQs
Can I apply origination fees per property?
Yes, enabling Custom Fee Per Property allows fees to be applied across multiple properties in a blanket or portfolio loan.
What happens if I disable a fee type?
Disabling a fee type hides it from the interface but retains all historical data. You can re-enable it anytime.
How does multi-payment fee collection work?
This feature allows certain fees to be split over multiple payments instead of being collected upfront.
Need Further Assistance?
For additional support, contact us:
📧 Email: support@mortgageautomator.com
💬 Live Chat: Click the question icon at the top-right corner of your screen.