The local attorney has sent notice that he will be charging $50 in the future for mortgage releases and extensions. My questions are:
What are the fee charges for your bank?
May we charge this fee in the payoff amount for all those mortgages in the future where we have not collected the fee; and
where would we disclose the fee on the RESPA GFE for future accounts? The fee may be 20 years down the road so we will have to
store it somewhere since the attorney doing the mortgage may not even be in business when the release is needed. Would it just be an origination charge?