Overview
SmartFees™ uses standardized fee names and predefined logic to ensure accurate disclosures. Fees may be applied universally or conditionally, depending on specific loan characteristics.
Title and settlement fees
Cotality Fee Name | Definition | Fee Type | Fee Application | Conditionality Details |
|---|---|---|---|---|
Accommodation Payoff | Charge for including the payoff of a liability or lien that is not the first mortgage associated with the transaction (i.e., home equity, tax lien, etc). | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) AND Loan Purpose criteria = Refinance AND Number of Accommodation Pay Off Fees criteria > 0 (2) This is a Settlement Services fee when State criteria <> Pennsylvania (PA) AND Loan Purpose criteria = Refinance AND Number of Accommodation Pay Off Fees criteria > 0 |
Admin Processing Fee | A fee charged for performing a portion of the title/closing service. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) (2) This is a Settlement Services fee when State criteria <> Pennsylvania(PA) |
Anti-Predatory Lending Database Cert | A fee charged to cover the preparation of the certificate, which is required for entering borrower's information into the ILPLD database that identifies whether a counseling session is required prior to closing. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Illinois (IL) |
Assessment/Surcharge(FL) | Charged by the state as a special fund to cover unpaid insurance claims. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Florida (FL) |
Attorney Fee | Fee charged for performing legal services related to the loan closing/settlement | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Bankruptcy Search | Fee charged for an additional search performed to identify relevant bankruptcy filings and their disposition. | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = NY or NJ |
CEMA NY | Charged for the preparation or processing of documentation or legal services related to CEMA transactions. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = NY and the Is CEMA criteria = true. |
Chain of Title | A fee charged to prepare the chain of title on a real estate transaction, which provides the sequence of historical transfers of title to a property | Title Insurance | Always Applied | (1) This is a Title Insurance fee for ALL states |
Closing Protection Letter (Borrower) | A fee charged for the issuance of a letter assuring the proper performance of certain limited actions of a title agent in performing settlement services in the transaction. | Title Insurance | Always Applied | (1) This is a Title Insurance fee for ALL states |
Closing Protection Letter (Lender) | A fee charged for the issuance of a letter assuring the proper performance of certain limited actions of a title agent in performing settlement services in the transaction. | Title Insurance | Always Applied | (1) This is a Title Insurance fee for ALL states |
Co-op Apartment Lien Search | Fee charged to perform search for liens and judgements specific to co-op properties and the cooperative corporation. (States supported - DC, IL, MD, NJ, NY) | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = DC, IL, MD, NJ, NY AND Property Type criteria = Cooperative |
Coordination Fee | A fee charged for handling transactions where some component of their service is outsourced to a third party. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Counter Signature | Required when out-of-state agents pay resident agents a fee to countersign policies sold in the state. | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = South Dakota (SD) |
Courier Messenger Fees | A fee charged for a document delivery service. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Courtesy Closing Services | A surcharge for closing service special accommodations (i.e., after hours, multiple signings in different locations) | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) AND Courtesy Closing Services criteria = true |
Deed Preparation | A fee paid to the title company for the preparation of the deed to complete the ownership transfer. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) and Loan Purpose = Purchase |
Demand Fee | A fee charged for the preparation of a demand/payoff statement for a current liability/lien associated with the subject property. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Disbursement Fee | A fee charged for funding and disbursing funds to respective parties on the transaction. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Document Preparation Fees | A fee charged for settlement service providers to prepare and/or print required recording and closing documents. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Document Signing Fee | A fee charged for performing the signing service on behalf of the closing/settlement company. | Settlement Services | Always Applied | (1) Title Insurance fee when property State criteria = Pennsylvania (PA) AND the Number of Document Signing Fees criteria is true. Otherwise the fee is a Settlement Service fee when the Number of Document Signing Fees criteria is true. |
Document Storage/Archive/ Copies | A fee charged for maintaining documents or record retention. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
E-Doc Fee | A fee charged for the electronic delivery of documents. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Guaranty Assessment Recoupment Charge (GARC) | Title Agents are required to collect a GARC fee for each owners and loan (mortgagee) policy issued throughout all of 2018, and then remit these funds quarterly to TTIGA. The amount of the fee is set by the Commissioner of Insurance, and is $4.50 per policy for the entire year of 2018. The GARC fee will only be in effect for one year. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when the property State criteria equals Texas (TX) and the Number of Guaranty Fees criteria > 1 |
Guaranty Fee | Charge to fund the title insurance agent audit function of the Texas Department of Insurance and to fund the payment of covered escrow account shortages resulting from the insolvency of a title insurance agent. | Settlement Services | Always Applied | (1) This is a Settlement Services fee when Number of Guaranty Fees criteria > 0 AND State = TX |
Judgment Fee | A fee charged for a type of search on title | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = New York (NY) or New Jersey (NJ) |
Lender's Endorsements | A variety of title endorsements charged to the borrower covering the lender | Title Insurance | Always Applied | (1) Variety and number of lender title endorsements varies based on loan characteristics |
Lender's Endorsements | A variety of title endorsements charged to the borrower covering the lender, this specifically applies to endorsements for the title guaranty certificate in IA | Title Insurance | Always Applied | Variety and number of lender title endorsements varies based on loan characteristics |
Lender's Title Insurance | It is meant to protect a lender's financial interest in real property against loss due to title defects, liens or other matters. | Settlement Services | Always Applied | Available on all Purchase and Refinance files except in Iowa (IA) state |
Lien Search Liability Coverage Fee | A limited search performed to identify liens only | Settlement Services | Always Applied | |
Loan Payoff | A fee charged for processing the payoff of an existing lien related to the property/borrower. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania(PA) AND Loan Purpose = Refinance |
Loan Tie-In | A fee charged for coordinating a concurrent closing that may involve multiple lenders. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania (PA) |
Municipal Lien Certificate | A fee charged for the preparation of a certificate that states the findings resulting from the municipal lien search. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania (PA) |
Municipal Lien Search | A fee charged to perform additional search services at the municipality level for outstanding judgements, liens, or related debts. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania(PA) |
Notary Fees | A fee charged by a notary public to witness and notarize documents. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania(PA) |
Other Accommodation Deed | A fee charged for preparation of other accommodation deeds (deeds associated with other payoffs). | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Overnight Fees | A fee charged for expediting documents via overnight delivery. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Owner's Endorsements | Fees that provide additional coverage specific to the subject property and are added onto the Owner's Title guaranty certificate in IA state only | Title Insurance | Conditionally Applied | Variety and number of owner title endorsements varies based on loan characteristics and applies when: |
Owner's Endorsements | Fees that provide additional coverage specific to the subject property and are added onto the Owner's Title Insurance base policy | Title Insurance | Conditionally Applied | (1) Variety and number of owner title endorsements varies based on loan characteristics and applies when Loan Purpose criteria = Purchase, all states except Iowa (IA) |
Owner's Title Insurance | Title Insurance Policy meant to protect an owner's financial interest in real property against loss due to title defects, liens or other matters. | Title Insurance | Conditionally Applied | (1) Applies when Loan Purpose criteria = Purchase except in Iowa (IA) state |
Patriot Search | A fee charged to perform a search on the prospective borrowers in the transaction to identify their possible listing on a government watch list. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = New York (NY) or New Jersey (NJ) |
Power of Attorney | A fee charged for the preparation of a Power of Attorney. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) AND Power of Attorney criteria = true |
Preparation of Notice Settlement | A fee charged to prepare the notice of settlement document that makes it know when an owner is going to sell or mortgage their property | Settlement Services | Conditionally Applied | (1) This is a Settlement Services Fee when property State criteria = New Jersey (NJ) |
Quit Claim Deed | A fee charged for preparation of a Quit Claim Deed. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) AND qclaim Recording Criteria = true or the Is Quit claim criteria = true and Loan Purpose = Refinance |
Reconveyance Fee | Fees imposed for preparing and providing documents when a loan is paid in full, whether or not the loan is prepaid, such as a loan payoff statement, a reconveyance document, or another document releasing the creditor's security interest in the dwelling that secures the loan. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania(PA) AND Number of Liens > 0 true and Loan Purpose = Refinance |
Recording Services | A fee charged by a third party to facilitate the recording of the documents required for the transaction. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania(PA) |
Release Services | Administrative fee charged for preparation of release of lien information/documentation. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) (2) This is a Settlement Services fee when State criteria <> Pennsylvania (PA) |
Sales Tax Settlement Services | Sales Tax charged on Settlement Services | Settlement Services | Conditionally Applied | (1) This is a Settlement Services Fee when property State criteria = Washington (WA), Hawaii (HI), New York (NY), or New Mexico (NM) |
Sales Tax Title Insurance | Sales Tax charged on Title Services | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Washington (WA), Hawaii (HI), New Mexico (NM), or Kentucky (KY) Purchase |
Settlement Services | A Fee for the administration and processing of all paperwork, appointments, and transaction related services. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
State Policy Fee (IL)-Lenders | A state mandated fee implemented by the government in 2006 and is a per policy charge. | Settlement Services | Always Applied | (1) This is a Settlement Services fee when the State criteria = IL and the Loan Purpose criteria = Purchase or Refinance |
State Policy Fee (IL)-Owners | A state mandated fee implemented by the government in 2006 and is a per policy charge. | Settlement Services | Always Applied | (1) This is a Settlement Services fee when the State criteria = IL and the Loan Purpose criteria = Purchase |
Sub-escrow Fee | Service provided by the Title company that includes receiving the loan proceeds (from the buyer or borrowers lender) and making the required payoffs of existing loan, liens, judgements and taxes against the property. | Settlement Services | Always Applied | (1) This is a Title Insurance fee When State criteria= Pennsylvania(PA) |
Subordination | A fee charged by settlement providers to process a subordination. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) AND Loan Purpose criteria = Refinance and Subordination criteria > 0 |
Survey Fee | Fee for performing an inspection and/or rendering drawings of the property and property boundaries. | Title Insurance | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Florida (FL) |
Tax Certificate | A fee charged for providing a certification that taxes are current. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria= Pennsylvania (PA) |
Tidelands Search (NJ) | Fee to search records for Tidelands state classification. Tidelands are owned by the state and maintained in a trust. | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = New Jersey (NJ) |
Title Abstract | A fee charged to obtain a full and complete record of all matters filed of public record that affect ownership rights to a particular piece of real property. | Settlement Services | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = Oklahoma (OK) |
Title Binder/Commitment | A fee for the preparation and issuance of a title product describing the terms and conditions upon which the title company will issue title policies in the transaction. | Title Insurance | Always Applied | (1) This is a Title Insurance fee for ALL states |
Title Examination | A fee charged to perform a closer examination of public records that affect the title to facilitate the issuance of title insurance policies in the transaction. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Title Guaranty Certificate Lenders | State specific program which offers Commitments, Certificates and Endorsements that provide title protection for real estate located in Iowa. Traditional title insurance is not an allowable offering in Iowa. | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = IA and Loan Purpose = Purchase or Refinance, Zip = 50001 (Midland Escrow Services) |
Title Guaranty Certificate Owners | State specific program which offers Commitments, Certificates and Endorsements that provide title protection for real estate located in Iowa. Traditional title insurance is not an allowable offering in Iowa. | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when State criteria = IA and Loan Purpose = Purchase, Zip=50001 (Midland Escrow Services) |
Title Indemnity Fee | A fee charged to prepare the contract that allows the title company to insure the closing free of the first deed of trust | Title Insurance | Always Applied | (1) This is a Title Insurance fee for ALL states |
Title Insurance Enforcement Fund Fee | A state fund that helps regulate the insurance policies. Also known as TIEFF. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Indiana (IN) AND Number of Title Insurance Enforcement Fund Fees criteria >= 1 |
Title Opinion Letter | A fee charged by an attorney to write an opinion based on the attorney's title search into a property, description of current ownership rights of the property and actions that must be taken to make the stated ownership rights marketable. | Settlement Services | Always Applied | (1) This is a Settlement Services fee for ALL states |
Title Search | Fee charged to retrieve documents to determine relevant interests related to real property. Examples include search of owners, vesting, liens, mortgages, judgements, tax status, title, etc. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Oklahoma(OK) |
Title Search/Abstract | A fee charged to retrieve documents to determine relevant interest related to real property. Examples include search of owners, vesting, liens, mortgages, judgements, tax status, title, etc. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Title Services Lenders | For KS, MO, OK, AR, MS, TN, KY, IL, NE: | Title Insurance | Always Applied | (1) This is a Title Insurance fee when State criteria = ALL AND Loan Purpose = Purchase or Refinance |
Title Services Owners | For KS, MO, OK, AR, MS, TN, KY, IL, NE: | Title Insurance | Always Applied | (1) This is a Title Insurance fee when State criteria = ALL AND Loan Purpose = Purchase |
Title Update Fee | A fee for additional search performed after closing of the loan but prior to the issuance of the title policy | Title Insurance | Conditionally Applied | (1) This is a Title Insurance fee when Title Update Fee criteria > 0 |
UCC Filing Preparation | A fee charged to prepare documents associated with the UCC Filing with the county recorder's office on Co-op transactions only. | Settlement Services | Conditionally Applied | (1) This is a Settlement Services fee when State criteria = Washington DC (DC), Illinois (IL), Maryland (MD), New Jersey (NJ), or New York (NY) |
Upper Court Search | A fee charged for performing an additional search service via upper courts for outstanding liens, judgements, or liabilities. | Settlement Services | Always Applied | (1) This is a Settlement Services fee when State criteria=NJ and Number of Upper Court Search Fees criteria > 1 |
Wire Transfer Fee | A fee charged to handle the cost involved in electronically transferring funds from one bank account to another bank account. | Settlement Services | Always Applied | (1) This is a Title Insurance fee when State criteria = Pennsylvania (PA) |
Inspection fees
Service Type | Definition |
|---|---|
203K Consultants | Promote and facilitate the restoration and preservation of the nation’s existing housing stock by performing a feasibility study that categorically examine the structure while reviewing 35 areas of concern. 203K loan programs permit homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. |
Appraisal Management Company | A business entity that administers a network of certified and licensed appraisers to fulfill real estate appraisal assignments on behalf of mortgage lending institutions. |
Asbestos Inspection | An inspection of a building to determine the presence of asbestos containing material (ACM) or suspected ACM. ACM is defined as material that contains greater than 1% asbestos. |
Chimney Inspection | An inspection to determine that all the components of the chimney and fireplace are not damaged, work well, and do not pose a threat. There are three levels of chimney inspections. |
EIFS Inspection | An inspection to identify areas of high moisture content in the sheathing and framing of a house. |
Energy Audit and Weatherization (EAW) | An inspection of the home to determine where the house is losing energy and money. A recommendation on how such problems can be corrected to make the home more energy efficient is also provided. |
Engineering/Structural Inspections | An examination to determine the structural integrity and soundness of the building. |
Geotechnical Engineering | Civil engineering that focuses on geology and soil mechanics leading to the design of foundation structures. |
Home Buyer Counseling | Housing counselors provide guidance and advice to help families and individuals improve their housing conditions and meet the responsibility of homeownership. |
HVAC Inspection | A heating ventilation and air conditioning (HVAC) inspection review the heating and cooling system of a home from a performance perspective. |
Land Survey | A map or plat drawn by a surveyor after measuring a piece of land, to show its area, boundaries, contours, elevations, improvements, and its relationship to the surrounding land. Service requires value for ‘Lot Size Square Feet’. |
Lead Inspection | An examination of samples from the home and laboratory testing to determine whether lead is present. |
Mold Inspection | An examination to detect the mold and mildew growth on the property or in a crawl space. |
Notary | Serves as an impartial witness to the signing of legal documents. |
Plumbing Inspection | A general inspection of the plumbing system. The inspection considers readily accessible pipes, fixtures and components, while noting recognized defects. |
Pool and Spa Inspection | An examination of the structure and equipment, the current condition and function, and the approximate cost estimated to fix the pool and spa. |
Radon Inspection | An examination to detect elevated radon levels in a home over a period of time. |
Roof Inspection | An examination to determine the integrity of a roof, how long it may last, and when it will need to be replaced. |
Septic Inspection | A visual or full inspection of a septic tank system to determine if it is functioning properly and identify any malfunctions. |
Thermal Inspection | A thermal imaging inspection using an infrared camera can provide inspectors with information on home energy loss, heat gain / loss, through the exterior walls and roof, moisture leaks, and improper electrical system conditions that are typically not visible. |
Underground Storage Tank Inspection | An examination to identify whether a property contains an underground storage tank, whether it is in service or inactive, what it holds, and the tank should be tested for leaks. |
Water Quality/Well Inspection | A residential inspection to test the quality of the drinking water within a private well. The well water is typically tested for common contaminants. Service requires value for ‘Water Quality Scan Types’. |
Outcome
You can identify SmartFees service provider fee types, determine how and when each fee is applied, and interpret any conditional details associated with those fees.