MQCC® MortgageQuote.ca - General Service & Schedule of Non-Interest Charges (Mortgage Servicing and Administration Fees)


1	MQCC® MortgageQuote.ca - General Service & Schedule of Non-Interest Charges (Mortgage Servicing and Administration Fees)
2	servicingfees.mortgagequote.ca
3	Rates are effective as of June 28, 2024; and are subject to change without notice.
4	All fees are payable in advance, by credit card or email money transfer.	Please visit servicingfees.mortgagequote.ca for the most current schedule.
5	MQCC® Systems-Network Access (MQCCsna™) Fee for all work with MQCC™ for all communication via email; on a per email unit basis.	275.00 per email plus time for content greater than a simple one sentancer response.
6	Alberta Discharge Fee	Free
7	British Columbia Discharge Fee	$75
8	All other Provinces Discharge Fee	$225
9	Annual Mortgage Statement/Payout Statement Request	First Request is Free, additional requests are $250.00 per mortgage.
10	Dishonoured cheque, PAC or debit fee	refer to your commitment letter
11	Property Insurance (Investigation of cancellation of property insurance coverage)	$475
12	Property Insurance Placement fee (if insurance coverage is cancelled or not active, lender will place insurance); this does NOT include insurance premiums.	$1250.00 plus Insurer Premium Coverage
13	Payment Frequency or Date Change	$275
14	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.
15	Fee for each offsite retrieval	$250
16	Hourly fee for client borrowing history, account history, payment history or tax account	$250.00/hour - billed in 1 hour increments
17	Renewals	Refer to your commitment letter
18	Payment Skips and Misses	$250
19	Notice of Property Tax Recovery and investigation thereof	$575.00
20	Property Tax Arrears Payment fee	$650.00 plus the actual tax arrears amount owing.
21	Amortization Statements	$150
22	Mortgage Enforcement Forebearance Fee	$2,750
23	Mortgage Demand Notice	$500
24	Effect of Nonpayment at Maturity of mortgage instruments	If the principal sum or any part thereof be not paid at maturity and not formally renewed, the mortgagor shall not be at liberty to pay same, except after six (6) months’ notice in writing to the Mortgagee, or upon the payment of six (6) months’ interest on the same, in lieu of notice.
25	Initial Default Administration Fee for default investigation, default collection and initial default followup	$2850.00 for the first 30 days of management. $1750.00 per month thereafter.
26	Cheque Holds	$75.00 per approved hold request
27	Per Day maintenance for administration and security of property in possession of Mortgagee.	$100
28	Site Visit	$675.00 per vist Plus Executive Officer Time if applicable
29	MQCC Investor-Lender™ Service Department hourly shop rate	$175.00 per hour
30	General MQCC® Office Activity: Underwriting, Enforcement, Collection Activity & Followup - MQCC® System-Network™ Rate based upon Principles of Internal Management-based activity.	Minimum of $850.00/hour - billed in 1 hour increments; based upon suggested .05 hour-equivalent Unit Factor.
31	Archived file Research and Reporting	$450.00/hour - billed in 1 hour increments Plus Executive Officer Time if applicable
32	Executive Officer Billing Rate (general underwriting and correspondence; 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; conformity science, principles, concepts and core processes including Principles of Internal Management-based activity	$7750.00 USD /hour. Daily rate for non-origination processes is $54,250.00 USD per day (4 hours before noon; 3 hours afternoon, with break of 1.5 hours); or $26,000.00 USD for 4 hours.
33	Chief Executive Officer (Chief (CEO) or other applicable Executive) Billing Rate (CEO Billable Time; general underwriting and correspondence; other duties as conducted, 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: conformity science, principles, concepts and core processes. including the scope of trademark "Principles of 'Blockchain'™" its application in commerce.	$27,500.00 USD /hour. Daily rate for non-origination processes is $165,750.00 USD per day (3 hours before noon; 2 hours afternoon, with break of 4.5 hours). Minimum 15 Business Days contract.
34	Discretionary Chief Executive Officer or Other Executive Officer or Manager or Staff billing rate on matters of, but not limited to, general underwriting and correspondence via email or via phone or via text or other means.	Minimum of $1200.00 per hour subject to activity. Billed in 1 hour increments for non-written correspondence activity; written correspondence activity billed by a fomula based upon extrapolation of time-spent by analysis of words-written net of email template content in order to capture input value of required to generate output value, specifically: to formulate and express and edit concepts. Telephone calls billed on a unit cost basis of $350.00 per phone call and $45.00 per minute of duration.
35	Transportation, accomodation and other out-of-pocket expenses	Billed as incurred
36	Witness Services	Contact us
37	Expert Witness Services	Contact us
38	Skip Tracing	Contact us
39	Data or Document Retrieval Analysis Process (DDRAP™)	$2,500.00
40	Data or Document Retrieval Delivery (DDRD™)	$2,500.00 or more, subject to quanta of data and level of complexity of retrieval.
41	Investigation Services	Contact us at underwriting@mortgagequote.ca
42	Canadian Dollars or USD as assigned.
43
44	Email underwriting[at]mortgagequote.ca for any questions or simply call us.
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46	Notes:
47	Hour-equivalent Unit Factors are multiplied by the number of hours, if applicable.
48	Fees are subject to applicable taxes
49	Additional fees or penalties may or may not be applicable to specific situations
50	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)
51	Fees may be updated without notice at MortgageQuote.ca's discretion.
52	Hourly billing charges are charged in 1 hour increments
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