MortgageQuote.ca - General Service & Schedule of Non-Interest Charges (Mortgage Servicing and Administration Fees)
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Rates are effective as of January 1, 2020; and are subject to change without notice.
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All fees are payable in advance, by credit card or email money transfer.Please visit servicingfees.mortgagequote.ca for the most current schedule.
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MQCC System-Hour (MSH™); for all work with MQCC™ an intellectual property (IP) access fee for all communication; $250.00 per email; or $ is based per 60 minute hour or portion thereof, uptor 3 emails sent or received on a per hour basis. $1675.00 per MSH™
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Alberta Discharge Fee Free
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British Columbia Discharge Fee$75
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All other Provinces Discharge Fee $225
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Annual Mortgage Statement/Payout Statement Request First Request is Free, additional requests are $125.00.
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Dishonoured cheque, PAC or debit fee refer to your commitment letter
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Property Insurance (Investigation of property insurance coverage) $300
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Property Insurance Placement (if insurance coverage is cancelled or not active, lender will place insurance) $300.00 plus Insurer Premium Coverage
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Payment Frequency Change $150
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Providing copies of documents from the borrower's file per item (copy of registered charge document, survey, survey certificate, real property report, electronic registration letter, other documents as applicable)$300.00 for the first 10 pages. $25.00 for each additional page.
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Fee for each offsite retrieval $250
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Hourly fee for client borrowing history, account history, payment history or tax account $250.00/hour - billed in 1 hour increments
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RenewalsRefer to your commitment letter
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Payment Skips and Misses $250
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Property Tax Arrears Payment fee$300.00 plus the actual tax arrears amount owing.
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Amortization Statements$150
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Mortgage Demand Notice$500
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Default Administration Fee$2850.00 for the first 30 days of management. $1750.00 per month thereafter.
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Cheque Holds $75.00 per approved hold request
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Per Day maintenance for administration and security of property in possession of Mortgagee.$100
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Site Visit$675.00 per vist Plus Executive Officer Time if applicable
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MQCC Investor-Lender™ Service Department hourly shop rate$175.00 per hour
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Underwriting, Enforcement, Collection Activity - Administration Staff Hourly Rate$250.00/hour - billed in 1 hour increments
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Archived file Research and Reporting$450.00/hour - billed in 1 hour increments Plus Executive Officer Time if applicable
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Executive Officer Billing Rate (including one-on-one company introduction session, consulting, training, education, seminars, training of other professionals (including lawyers); file audit and investigation) or all duties which are completed by an Executive Officer, personally, including: underwriting for the scope of Mortgage Banking and Mortgage Brokering.$5750.00 USD /hour. Daily rate for non-origination processes is $37,500.00 USD per day (4 hours before noon; 3 hours afternoon, with break of 1.5 hours); or $26,000.00 USD for 4 hours.
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Executive Officer Billing Rate (including one-on-one company introduction session, consulting, training, education, seminars, training of other professionals (including lawyers); file audit and investigation) or all duties which are completed by an Executive Officer, personally, including: underwriting for the scope of "Prnciples of 'Blockchain'" and its application in commerce.$8500.00 USD /hour. Daily rate for non-origination processes is $75,000.00 USD per day (4 hours before noon; 3 hours afternoon, with break of 1.5 hours). Minimum 15 Business Days contract.
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Transportation, accomodation and other out-of-pocket expensesBilled as incurred
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Witness ServicesContact us
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Expert Witness ServicesContact us
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Skip TracingContact us
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Data or Document Retrieval Analysis Process (DDRAP™)$2,500.00
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Data or Document Retrieval Delivery (DDRD™)$2,500.00 or more, subject to quanta of data and level of complexity of retrieval.
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Investigation ServicesContact us
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Canadian Dollars or USD as assigned.
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Email underwriting[at]mortgagequote.ca for any questions or simply call us.
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Notes:
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Fees are subject to applicable taxes
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Additional fees or penalties may or may not be applicable to specific situations
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Fees will be charged for providing other administrative or clerical services at borrower's request, including but not limited to: copies of documents from customer file, copies of legal documents (other than certified true copies)
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Fees may be updated without notice at MortgageQuote.ca's discretion.
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Hourly billing charges are charged in 1 hour increments
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