Common use of Processing, Origination Fees and Closing Costs Clause in Contracts

Processing, Origination Fees and Closing Costs. Subject to the maximum charges set forth in the applicable Administrator’s Guidelines, but only as permitted by FHA, RD, VA, Xxxxxx Mae or Xxxxxxx Mac, as applicable, the Participant may, in connection with each Mortgage Loan, charge and collect from the Mortgagor or seller of a Single Family Residence at the time of Closing of the Mortgage Loan the following: (i) the Origination Fee, which Origination Fee shall not in any event exceed the applicable Xxxxxx Mae, Xxxxxxx Mac, FHA, VA or RD limits, (ii) the Discount Fee, and (iii) all reasonable and customary out-of- pocket costs permitted by law paid or incurred by Participant, including but not limited to the tax service fee and the life of loan flood monitoring fee as specified in the Lender’s Guide, notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ fees, the Bond Application Fee (pursuant to Section 4.08 hereof), documentary and intangible taxes, if any, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the Origination Fee and Discount Fee, if any, and shall clearly reflect that the Origination Fee does not exceed 1% of the principal amount of the Mortgage Loan or such other amount allowed by FHA, VA, RD, Xxxxxx Mae or Xxxxxxx Mac regulations, as applicable, subject to the limits set forth in the applicable Administrator’s Guidelines. In addition, Participant may collect at the time of loan application an Application Fee in an amount approved by the Issuer as set forth in the related Invitation and in the applicable Administrator’s Guidelines for the costs of the appraisal and the credit report (any moneys remaining out of the Application Fee must be refunded at the time of Closing) from the Mortgagor or Seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, VA or RD, as applicable. Participant may also collect at the time of Closing from the Mortgagor or seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, RD or VA, as applicable, all reasonable and customary out-of- pocket costs permitted by law paid or incurred by Participant, including but not limited to notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ fees, Bond Application Fee, applicable documentary and intangible taxes, if any, the tax service contract fees and life of loan flood monitoring fees as specified in the Lender’s Guide, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the fees set forth above that are payable to the Program Administrator or Servicer. Under current law, the note and mortgage are exempt from documentary stamp and intangible taxes under State law. Such fees and expenses may be collected only once in connection with the origination of the Mortgage Loan and shall not exceed limits established from time to time by federal law or State law and in any event may not exceed like amounts charged in such area in cases where financing is not provided through tax-exempt revenue bonds. The Participant may collect from the seller of a Single Family Residence the portion, if any, of the Origination Fee that may not be collected from a Mortgagor due to federal or State law restrictions.

Processing, Origination Fees and Closing Costs. Subject to In connection with each Mortgage Loan, the maximum charges set forth in the applicable Administrator’s GuidelinesLender may, but only as permitted by FHA, VA, RD, VA, Xxxxxxx Mac or Xxxxxx Mae or Xxxxxxx MacXxx, as applicable, the Participant may, in connection with each Mortgage Loan, charge and collect from the Mortgagor or seller of a Single Family Residence at the time of Closing of the Mortgage Loan the following: (i) such application fees, funding fees, tax service fee, the Origination Fee, Fee (which Origination Fee shall not in any event exceed the applicable Xxxxxx Mae, Xxxxxxx Mac, Xxxxxx Xxx, FHA, VA or RD limits), (ii) or Discount, as shall be set forth in the Discount Feerelated Administrator’s Guidelines, and (iii) all reasonable and customary out-of- of-pocket costs permitted by law paid or incurred by Participant, including but not limited to the tax service fee and the life of loan flood monitoring fee as specified in the Lender’s Guide, notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ fees, the Bond Application Fee (pursuant to Section 4.08 hereof), documentary and intangible taxes, if any, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the Origination Fee and Discount Fee, if any, and shall clearly reflect that the Origination Fee does not exceed 1% of the principal amount of the Mortgage Loan or such other amount allowed by FHA, VA, RD, Xxxxxx Mae or Xxxxxxx Mac regulations, as applicable, subject to the limits set forth in the applicable Administrator’s Guidelines. In addition, Participant may collect at the time of loan application an Application Fee in an amount approved by the Issuer as set forth in the related Invitation and in the applicable Administrator’s Guidelines for the costs of the appraisal and the credit report (any moneys remaining out of the Application Fee must be refunded at the time of Closing) from the Mortgagor or Seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, VA or RD, as applicable. Participant may also collect at the time of Closing from the Mortgagor or seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, RD or VA, as applicable, all reasonable and customary out-of- pocket costs permitted by law paid or incurred by Participant, including but not limited to notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ fees, Bond Application Feethe preliminary Mortgage Loan review fee, applicable documentary and intangible taxes, if any, recording or registration taxes, the tax service contract fees and life of loan flood monitoring fees as specified in the LenderAdministrator’s GuideGuidelines and Lender Manual, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the fees set forth above that are payable to the Program Administrator or Servicer. In addition, Lender may collect at the time of loan application (i) an application fee not to exceed the costs of the appraisal and the credit report (any moneys remaining out of the application fee must be refunded or credited at the time of Closing) and (ii) such portion of the Participation Fee as shall be set forth in the related Invitation, from the Mortgagor or Seller as permitted by Xxxxxxx Mac, Xxxxxx Xxx, FHA, VA or RD, as applicable. Under current Florida law, the note notes and mortgage mortgages related to an issue of Bonds are exempt from documentary stamp and intangible taxes under State lawtaxes. Such fees and expenses may be collected only once in connection with the origination of the Mortgage Loan and shall not exceed limits established from time to time by federal law or State law and in any event may not exceed like amounts charged in such area in cases where financing is not provided through tax-exempt revenue bondsBonds. The Participant Lender may collect from the seller of a Single Family Residence the portion, if any, of the Origination Fee that may not be collected from a Mortgagor due to federal or State law restrictions.

Processing, Origination Fees and Closing Costs. Subject to In connection with each Mortgage Loan, the maximum charges set forth in the applicable Administrator’s GuidelinesLender may, but only as permitted by FHA, VA, RD, VA, Xxxxxxx Mac or Xxxxxx Mae or Xxxxxxx MacXxx, as applicable, the Participant may, in connection with each Mortgage Loan, charge and collect from the Mortgagor or seller of a Single Family Residence at the time of Closing of the Mortgage Loan the following: (i) such application fees, funding fees, tax service fee, the Origination Fee, Fee (which Origination Fee shall not in any event exceed the applicable Xxxxxx Mae, Xxxxxxx Mac, Xxxxxx Xxx, FHA, VA or RD limits), (ii) or Discount, as shall be set forth in the Discount Feerelated Administrator’s Guidelines, and (iii) all reasonable and customary out-of- of-pocket costs permitted by law paid or incurred by Participant, including but not limited to the tax service fee and the life of loan flood monitoring fee as specified in the Lender’s Guide, notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ fees, the Bond Application Fee (pursuant to Section 4.08 hereof), documentary and intangible taxes, if any, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the Origination Fee and Discount Fee, if any, and shall clearly reflect that the Origination Fee does not exceed 1% of the principal amount of the Mortgage Loan or such other amount allowed by FHA, VA, RD, Xxxxxx Mae or Xxxxxxx Mac regulations, as applicable, subject to the limits set forth in the applicable Administrator’s Guidelines. In addition, Participant may collect at the time of loan application an Application Fee in an amount approved by the Issuer as set forth in the related Invitation and in the applicable Administrator’s Guidelines for the costs of the appraisal and the credit report (any moneys remaining out of the Application Fee must be refunded at the time of Closing) from the Mortgagor or Seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, VA or RD, as applicable. Participant may also collect at the time of Closing from the Mortgagor or seller as permitted by Xxxxxx Mae, Xxxxxxx Mac, FHA, RD or VA, as applicable, all reasonable and customary out-of- pocket costs permitted by law paid or incurred by Participant, including but not limited to notary fees, settlement fees, document preparation fees, hazard, mortgage or life insurance premiums, survey, title insurance premiums, appraisal fees, attorneys’ ' fees, Bond Application Feethe preliminary Mortgage Loan review fee, applicable documentary and intangible taxes, if any, recording or registration taxes, the tax service contract fees and life of loan flood monitoring fees as specified in the LenderAdministrator’s GuideGuidelines and Lender Manual, recording or registration taxes and charges, prepaid escrow deposits and similar charges. The HUD-1 Settlement Statement and related loan documents shall separately and distinctly disclose the fees set forth above that are payable to the Program Administrator or Servicer. In addition, Lender may collect at the time of loan application (i) an application fee not to exceed the costs of the appraisal and the credit report (any moneys remaining out of the application fee must be refunded or credited at the time of Closing) and (ii) such portion of the Participation Fee as shall be set forth in the related Invitation, from the Mortgagor or Seller as permitted by Xxxxxxx Mac, Xxxxxx Xxx, FHA, VA or RD, as applicable. Under current Florida law, the note notes and mortgage mortgages related to an issue of Bonds are exempt from documentary stamp and intangible taxes under State lawtaxes. Such fees and expenses may be collected only once in connection with the origination of the Mortgage Loan and shall not exceed limits established from time to time by federal law or State law and in any event may not exceed like amounts charged in such area in cases where financing is not provided through tax-exempt revenue bondsBonds. The Participant Lender may collect from the seller of a Single Family Residence the portion, if any, of the Origination Fee that may not be collected from a Mortgagor due to federal or State law restrictions.