Common use of Loan Administration Fee Clause in Contracts

Loan Administration Fee. Borrower agrees to pay a Loan Administration Fee to the Loan Servicer at the Closing of each Loan. The Loan Administration Fee for each Loan is fully earned at the Loan Closing. Upon Borrower’s request, the Loan Administration Fee for the applicable Loan may be funded by Lender under the Loan at the Loan Closing and upon disbursement, such amount shall automatically constitute principal outstanding under the Note evidencing such Loan.