Bay Equity Servicing

Frequenty Asked Questions Fee Schedule

Q: Where do I make my first payment? FEE TYPE FEE DESCRIPTION AMOUNT CHARGED

If your first payment is due to Bay Equity (have not received a transfer letter indicating One-time fee for a payment A fee when making a one-time Payment made on the 1st – 5th day
otherwise) you can make your payment one of three ways. made via automated phone payment through our of the month = $5.00*
system or website automated phone system or Payment made on the 6th – 10th
PHONE – 855.259.0467 website of the month = $10.00*
There may be a fee involved ranging from $5-$15 depending on time of the month. Payment made after the 10th of
See fees listed below. One-time fee for payment made A fee when making a one-time the month = $15.00*
via a Customer Service payment speaking with a
ONLINE – www.bayequityhomeloans.com Representative Customer Service Payment made on the 1st – 5th
Select the “Make a Payment” orange button in the upper right-hand corner. Create an Representative day of the month = $5.00*
online account. There may be a fee involved ranging from $5-$15 depending on time Payment made on the 6th – 10th
of the month. See fees listed below. of the month = $10.00*
Payment made after the 10th of
BY MAIL – Bay Equity, P.O. Box 105178, Atlanta, GA 30348-5178 the month = $15.00*

Q: Can I set up auto-draft, bill pay or bi-weekly payments from my bank? ACH set up Fee A fee to set up auto draft for $0.00*
(bi-weekly or monthly) reoccurring payments. A draft
As auto-draft and bi-weekly payments will not transfer with your loan we recommend you date is only available between
wait 60 days (2 payments) before setting up any automatic payments as your loan may be the 1st and the 10th of the month.
sold and transferred to a new servicer during this time. Regarding bill pay through your
bank ,you will need to make sure you change the payment mailing address to correspond ACH Processing Fee A fee to process a reoccurring $0.00*
with the first payment due to the new servicer. (bi-weekly or monthly) auto-draft payment
Non-Su cient Funds (NSF),
Q: Can I make extra principal payments or recast? Returned Check or A NSF, Returned Check or ACH Up to $50* based on agency
ACH Return Fee Return Fee is assessed when a guidelines and applicable state
We recommend you wait 60 days (2 payments) before making extra principal payments. If payment is returned by the law.
your loan is sold during the first two months the extra principal would need to be forward. Recast Fee borrower’s financial institution
This would take 7-10 business after the e ective date of said transfer. As for the recast if due to insu cient funds. The
the process was not completed prior to e ective transfer date, the process would have to borrower’s financial institution
start over with a new servicer. also assess a separate fee.

Q: How will I know if my loan has been transferred? A fee to process a request to Up to $350.00*
modify the principal and interest Minimum of $10,000.00
You will receive notice in U.S. Mail that your loan is being transferred. This may happen payment amount using the principal reduction required.
prior to your first payment. Watch the e ective date on the transfer notice of when your current note and maturity date,
payment is due to the new servicer. You will also receive a letter from the new servicer. generally following a large
This may happen prior to receiving our letter. Any questions and/or concerns please prepayment.
contact 855.259.0467.
Private Mortgage A fee to evaluate a request to $0.00*
Q: What is the fee schedule? Insurance (PMI) terminate PMI
Termination Request Fee (does not include the property
*The fee schedule provided to the right is a list of common fees and costs that may be evaluation costs)
incurred in connection with a mortgage loan. Actual fee amounts and costs are subject to
change and vary depending on the applicable state law and/or agency guidelines and your
loan documents.