Fees
The Fees node determines which fees must be available for a specific loan product.
- Establish loan product fees by selecting the box next to the desired fee. Select Save to tie the fee to the specific loan type.
- Select the
Edit icon when fee
information for a specific loan type requires editing. Note Specific fee defaults can be set for this loan type. For example, when a straight fee amount or a percentage of the loan is charged, the amount or percentage is defaulted in this area. Also, when the fee is normally paid to a specific vendor, the information can be defaulted.
Note The same fees are available on
the Post Origination Fees tab and Open End Fees tabs. However, the fees on the Open End
Fees tab are only available for consumer open-end loans, and the fees on the
Post Origination Fees tab are available for all other loan
types.