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History of Fee Changes

Date Changes
Apr-15-2008
  • Lender servicing fee: Changed to 1% for AA credit grade.
Jan-04-2008
  • Borrower closing fee: Changed to 2% for A-B credit grades and 3% for C-HR credit grades
Oct-30-2007
  • Lender servicing fee: Changed to 1% for A credit grade and 0% for AA credit grade
Feb-12-2007
  • Borrower closing fee: Changed to 2% for E and HR credit grades
  • Lender servicing fee: Changed to 1% for B-HR credit grades
  • Failed payment fee: Changed from three possible $5 fees to one $15 fee per month
Feb-05-2006
  • Borrower closing fee: 1% for all credit grades
  • Non-electronic payment charge: 1% (optional)
  • Lender servicing fee: 0.5% per annum for all credit grades
  • Failed payment fee: $5 fee for each failed payment attempt (up to 3)
  • Late payment fee: 5% of installment amount or $15, whichever is greater (varies by state)

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