What are Administrative fees; Underwriting, Processing, Document Preparation, Lender Inspection?

The administrative fees which total approximately $1800 include the following:

  • Underwriting ($495) one of our due diligence functions; reviewing and assessing information about you and the property to determine if the loan is viable. In underwriting we review the purchase contract and any applicable addendums, appraisal, credit report, the flood certification report, the application, back up documentation, all to determine if the loan is an acceptable risk.
  • Document Preparation ($395) is the preparation of your loan documents for closing.
  • Lender Inspection ($295) is part of our due diligence when the lender makes a site visit to the subject property and neighborhood to determine if it is the kind of property we are comfortable with as collateral for the loan.
  • Loan Application ($535) is gathering all your information and data, discussing your different loan options, evaluating your circumstances, evaluating collateral, and discussing and determining which BRAD LOAN is right for you. It is also to pay for us to obtain a preliminary title report, work with the title company, work through title issues with the escrow officer, work with realtors, insurance agents, appraisers, gathering up borrower’s documentation, etc, and coordination of all the previous mentioned functions and people to help bring your loan to fruition.

Also included in the administrative fees are expenses incurred on your behalf by eMortgage Inc. and/or the lender.

  • Wiring fees ($20 to $50) charged by the lenders bank to wire your loan funds to title.
  • Credit Report ($18 to $26) fees charged by the credit reporting agency. If we have a current credit report for you on file and you do regular business with us, we will only charge for 1 credit report every 3 months.
  • Flood Certification ($10) to determine if your property is in a flood zone and therefore requiring flood insurance, as well as charges from
  • Courier services ($30 -$60) shipping documents between lender, title company, and in some cases, the borrower.
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