Automated Upfront Fee Collection Can Save Lenders Thousands

What would you say if we told you that lenders across the country are losing out on around 5-10% of their upfront fees every year? We’re talking Appraisal fees, Application Deposits, Lock In and Prepaid Commitment fees just to name a few. Fannie Mae has forecasted that purchase mortgage originations will increase by 6.3% in 2022 at $3.25 trillion. Some quick math tells us that lenders could lose millions this year if they don’t address these unpaid fees. So what’s the solution? Automation.

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