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Please be advised that effective immediately, Lakeview Servicing, LLC, has updated their fees. See below.
Funding Fee - $400 (no change)
Tax Service Fee - $85 (previously $75)
Flood Certification Transfer Fee – No longer applies (previously $10)
Please note that these fees are determined by our master servicer, Lakeview Servicing, and they have issued an announcement to lenders advising of this change. We are sharing this change with lenders to ensure these fees are updated in your own loan origination systems and disclosed to borrowers accurately. For more information, please visit the Announcements tab on Lakeview’s website at www.lakeviewcorrespondent.com.
Please note, lenders collect these fees at closing and these fees are deducted at loan purchase. The amount that will be deducted with this fee change remains the same (previously $75 Tax Service Fee + Flood Certification Transfer Fee $10 = $85 and now, $85 Tax Service Fee – Flood Certification Transfer Fee $0 = $85). Lenders should not incur a loss at loan purchase.
To view the revised guidelines and term sheets, please click on this link.
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