Mortgage Servicing Fees
| Name of Fee | Fee Description | Additional Information |
|---|---|---|
Late charges | A late charge may be assessed if mortgage payment obligation deadlines are not met, and payments are not made within the grace period. | Late charges are based on a contracted amount, loan type and if applicable, state regulations. Please consult loan documents for more information. |
Home Equity Line of credit (HELOC) Early Closure Fee | If applicable to your HELOC, an early closure Fee (ECF) is assessed when a home equity account is closed prior to a specified date. | HELOC early closure fees are disclosed in the HELOC agreement signed during the origination of the loan. Please consult the HELOC Agreement for more details. |
SERVICING FEES DISCLOSURE
When Bank of America, N.A. ("we" or "us") services your home loan, generally we do not charge fees associated with routine servicing. When you find it necessary to request special services from us, there may be a fee or charge. If you request a special service during the servicing of your home loan, which involves a fee or charge, we will let you know of any applicable fees or charges before processing your request. You will be responsible for any state or local government recording fees associated with the recording of mortgage documents. You will receive notices and statements from us that may contain additional information regarding fees or charges. Fees or charges are subject to change. If the servicing of your mortgage loan is transferred by us, you should consult your new Loan Servicer for their schedule of fees or charges.