Fee Schedule

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About Fees

Fees consist of an annual membership fee, certain types of transaction fees, and other charges as applicable. Membership fees vary according to a company’s size, annual production, or transaction and servicing volumes. Initial membership fees are billed following the receipt of a signed membership application, and annual renewals are billed based on the anniversary date of membership.


  

MERS® Residential

Annual Membership Fees

  • Lite: $264
  • Patron: $1,000
  • Third-Party Originator (TPO): $150
  • General, Tier 1: $500 (for companies with an annual production volume of less than $250 million, OR a servicing portfolio of under $2 billion, whichever is greater)
  • General, Tier 2: $2,000 (for companies with an annual production volume of $250 million to $1 billion, OR a servicing portfolio of $2 billion to $10 billion, whichever is greater)
  • General , Tier 3: $5,500 (for companies with an annual production volume of $1 billion to $10 billion, OR a servicing portfolio of $10 billion to $50 billion, whichever is greater)
  • General, Tier 4: $7,500 (for companies with an annual production volume of more than $10 billion, OR a servicing portfolio of more than $50 billion, whichever is greater)


Membership Types

  • General: For lenders that typically service loans. General memberships are available in four different tiers based on annual volume of loan originations or servicing (whichever is greater; see above).
  • Lite: For lenders that originate and sell loan servicing rights on a flow basis within 120 days.
  • Patron: For companies who support MERS® System-registered loans but do not typically register them.
  • Third-Party Originator (TPO): For lenders that originate loans where Mortgage Electronic Registration Systems, Inc. (MERS) is the original mortgagee but your investor/lender will perform the transactions on the MERS® System.


Transaction Fees

  MOM and Non-MOM LoansAmount
(per loan)
  Registration $  11.95  
  Pre-closing registration 0.97  
    Post-closing registration (after paying pre-closing
    registration fee of $0.97)
10.98  
  Seasoned servicing transfer 11.95  
  Intracompany transfer 2.50  
  Transfer to non-MERS status 1.00  
  Transactions authorized by member certificate 10.00  
  iRegistrationsAmount
(per loan)
  Registration $  0.97  
  Pre-closing registration 0.97  
  Conversion of iRegistration to non-MOM 10.98  
  Seasoned servicing transfer 0.97  
  Intracompany transfer 0.97  
  Transfer to non-MERS status 0.97  

 


 

MERS® eRegistry 

Use of the MERS® eRegistry is not subject to an additional membership fee.  Usage is covered under the scheduled membership fee for the MERS® System.

  Transactions (see Notes below) Amount 
(per Transaction)
  eNote Registration $    4.95  
  Security instrument registration on the MERS® System 11.95  
  Combined eNote registration on the MERS® eRegistry and 
      security instrument registration on the MERS® System1
15.90  
  Transfer of control—seasoned loan2 2.00  
  Transfer of control—flow loan2 - 0 -  
  Transfer of location - 0 -  
  Transfer of delegatee - 0 -  
  Transfer to proprietary registry 2.00  
  eNote conversion to paper 10.00  
  eNote deactivation - 0 -  
  Assumption or modification - 0 -  
  Transaction performed on behalf of member 100.00  

 

NOTES:

  1. A discount of $1.00 is granted when a loan’s security instrument with MERS as mortgagee is registered on the MERS® System following the eNote being registered on the MERS® eRegistry.
  2. A Transfer of Control-seasoned loan fee will be charged when the transfer date is greater than 270 days from the note date. When the transfer date is 270 days or less from the note date, then the transaction is a Transfer of Control-flow loan. Intracompany Transfers of Control are included in this category.

OTHER CHARGES:

  • Broker membership fee (paid by delegatee): $50.00
  • Broker membership annual renewal fee (paid by delegatee): $10.00

 

 

MERS® Link

A subscription to MERS® Link is available for $250.00 per year. Click here to learn how to subscribe.You may also access MERS® Link through your paid membership to the American Land Title Association.

FOR GOVERNMENT INSTITUTIONS: State, local and county governments can subscribe to MERS® Link free of charge to help locate property preservation contacts for homes in their areas.

 


 

MERS® Commercial

MERS® Commercial fees consist of the annual membership fee, the per-loan registration fee, and other charges if applicable. Membership fees vary according to company type as follows:


Membership Fee

Membership TypesAnnual
Fee
  GENERAL: Includes issuers/investors, primary servicers and trustees/custodians $ 7,500  
  CORRESPONDENT: Includes originators selling closed loans, correspondents and brokers 1,000  
  PATRON (All others): For companies who support MERS® System-registered 
  loans but do not typically register them. Patron memberships can be convert 
  to full membership at any time.
1,000  
  Transaction Fee 250  

 


 

Miscellaneous Charges

  • MERS CORPORATE SEALS: $25.00 each (plus shipping).
  • EXCESS MAIL FEE: $12.00 charged for each document as defined in Rule 5, Section 4 of the MERS Rules of Membership.
  • EXTERNAL RESEARCH FEE: $95.00 charged for each loan requiring additional research because the MERS® System does not reflect the correct information.
  • PHYSICAL DELIVERY FEE: Members who request physical delivery of service of process documents in addition to receiving them electronically will incur a $2.00 per document charge.
  • RETURNED PAYMENT FEE: $25.00 per item.
  • TRAINING: Free initial training by conference call. Subsequent training options: By conference call ($150); at the MERSCORP Holdings corporate office (free); at a member's site ($750, plus trainers' travel expenses); web seminars ($35 per standard session; higher fees apply for select sessions).
  • UNIDENTIFIED MAIL: $95 flat fee charged for any unidentified mail services. This applies when there is a recorded mortgage or assignment from MERS in the land records but the loan is not registered on the MERS® System.
  • VALUE-ADDED SERVICES: Any value-added services are priced, disclosed and agreed to with members prior to the service being rendered.

 


 

Definition of Terms

  • CONVERSION OF iREGISTRATION TO NON-MOM FEE: Charged to the member who initiates a Conversion transaction to change an iRegistration loan to Non-MOM when the loan is assigned to MERS.
  • INTRACOMPANY TRANSFER FEE: Fee charged to the member that initiates a servicing transfer transaction on the MERS® System between two Org IDs associated pursuant to a Primary/Secondary Relationship Agreement.
  • iREGISTRATION: Loan registered on the MERS® System for informational purposes only where Mortgage Electronic Registration Systems, Inc. is not the mortgagee or assignee.
  • PRE-CLOSING REGISTRATION FEE: Charged for registering a loan on the MERS® System prior to the note date.
  • POST-CLOSING REGISTRATION FEE: Charged for activating a loan previously registered as a Pre-Closing on the MERS® System, usually when the loan closes.
  • REGISTRATION: Registration of loans onto the MERS® System.
  • SEASONED SERVICING TRANSFER FEE: Charged to the member who initiates a seasoned servicing transfer transaction to another member. The fee is charged to the member named as current servicer on the MERS® System. Seasoned Servicing Transfers are defined by the particular Purchase and Sale Agreement between a buyer and a seller that identifies a predefined portfolio of servicing to be sold on a specific sale date and transferred on a specific transfer date. Seasoned Servicing Transfers typically occur independent of the sale of the beneficial rights of the loans in a portfolio.

NOTE:  Currently, there are no additional transaction fees for transfers of beneficial rights. There is also no fee for Flow Transfers of Servicing. A Flow Transfer of Servicing is defined by a Purchase and Sale Agreement that identifies a commitment to deliver a specified dollar volume (unpaid principal balance) of servicing on a specific delivery schedule associated with the sale of beneficial rights. The MERS® System will not permit a Flow Transfer of Servicing if the transfer date is greater than 270 days from the note date on that loan. In this case, the Seasoned Servicing Transfer Fee applies.

  • TRANSACTIONS AUTHORIZED BY MEMBER CERTIFICATE FEE: charged to member authorizing MERS to initiate a transaction to reflect the correct servicer on the MERS® System. This fee is charged in addition to the applicable Intracompany or Seasoned Servicing Transfer fee.
  • TRANSFER TO NON-MERS STATUS: members who transfer servicing to a non-MERS Member record an assignment out of MERS, or stop tracking an active iRegistration loan on the MERS® System, are charged a nominal deactivation fee. For MOM and Non-MOM loans, members are also responsible for preparing and recording an assignment from MERS to the buyer.