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NY Schedule of Fees

Type of Fee Cost Description 
Subordination $300.00 A fee will be charged for the subordination of a lien. 
VOM $20.00, only after four or more requests made in a given year.  A fee will not be charged in connection with the verification of a mortgage for the first four (4) requests. If the borrower requests five (5) or more in a given calendar year, borrower will be charged a fee. 
Prior Year 1098 $15.00 A fee will be charged for any prior calendar year's tax form 1098. A free tax form 1098 is provided to a borrower once every calendar year. 
Release Fee $25.00 A fee will be charged to release of a lien. No fee shall be charged for being provided a release upon full prepayment. 
NSF $20.00 A fee will be charged to return a check for insufficient funds. 
Duplicate Release of Lien Fee $50.00 A fee will be charged for a duplicate copy of a release of lien. 
Late Fee See Note (in compliance with state guidelines) A fee will be charged for a late payment according to the terms of your Note and not to exceed limitations placed by New York law and regulation. 
Pay by Phone $15.00 A fee will be charged for any payment made over the telephone.
Inspection Fee $10.00 If delinquent on a loan, an Inspection Fee will be charged to determine the occupancy and condition of the property 
BPO $95.00-$110.00 If delinquent on a loan, a Broker's Price Opinion will be ordered to determine the value of the property.
Foreclosure/Judgment Attorney Fees Varies Reasonable and customary attorney's fees will be charged to the borrower for the cost of legal services incurred in relation to a foreclosure or judgment action. 
Foreclosure/Judgment Expenses and Court Costs Varies Reasonable and customary expenses and court costs will be charged to the borrower for the cost of legal services incurred in relation to a foreclosure or judgment action.
Payoff Fee $20.00, only after five or more requests made in a given year.  No fee will be charged for a payoff fee request. A fee may be charged after five (5) or more payoff fee requests are made in a given calendar year.
Prepayment Penalty Fee see Note (in compliance with state guidelines) A fee will be charged for a prepayment according to the terms of your Note and not to exceed limitations placed by New York law and regulation.
Appraisal  $350.00-$500.00 A fee will be charged if an appraisal is ordered  to determine the property's value.
Title Search  Up to $250.00 A fee will be charged to conduct a title search on your property.  

This list does not include all fees that ay be charged for services rendered. Additional fees could be charged if you utilize services not listed above. The fees are subject to change without notice. If you have a question about this Fee Schedule, please contact Franklin Credit’s Customer Relations Department at 888-327-9900.