Or. Admin. Code § 274-045-0220
Current through Register Vol. 63, No. 11, November 1, 2024
Section 274-045-0220 - Fees(1) The Director of Veterans' Affairs (Director) imposes fees for the following: (b) Partial Release, Easement, and Modification of Mortgage.(d) Reissue of Stale, Lost, Destroyed or Missing Document.(e) Mineral Rights and Geothermal Resource Rights Release.(f) Borrower requests to cancel private mortgage insurance.(g) Dishonored Electronic Funds Transfer.(2) The fee will not be waived or reduced except when in the Director's opinion, requiring the fee would cause an undue hardship. In the case of a dishonored check, the fee will be waived if the check was dishonored because of a bank error.(3) Fee Schedule: (a) New Loan Fees. (A) A credit report fee may be charged in an amount not to exceed the amount charged by the credit-reporting firm. A credit report fee may be charged for each applicant unless a co-applicant is the applicant's spouse.(B) An appraisal report fee may be charged in an amount not to exceed the amount charged by the appraiser or actual cost.(C) In the event of cancellation of the application after acceptance for processing and collection of credit report and appraisal fees, any money not used or obligated for credit reports or appraisals shall be refunded to the borrower.(D) The loan fee will not exceed two percent (2%) of the loan amount;(E) Flood determination fee for each loan may be charged in an amount not to exceed the amount charged by the flood determination company;(F) A processing fee in the amount of $600 will be charged for processing, document preparation, or other services.(b) Partial Release, Easement, and Modification of Mortgage Fees: (A) $450 plus the cost of an appraisal for a partial release or modification of mortgaged property. The appraisal fee will be refunded to the applicant if the request is withdrawn before the Director is obligated to an appraiser for the cost of a property appraisal.(B) $50 for consenting to an easement.(C) $100 for partial release involving release of a manufactured home that will be replaced with another home.(D) $1,100 for a partial release involving release of water rights. $1,000 of the $1,100 fee will be refunded if the request is withdrawn before the Director is obligated to an appraiser for the cost of a property appraisal.(E) A larger fee may be charged in complex cases to cover extra processing costs.(F) A fee for the partial release of property to a government entity for public use as noted in Chapter 238 Oregon Laws 1995. This fee may be modified or waived at the discretion of the Director.(c) Dishonored Check Fee. Whenever a bank check issued in payment of an obligation due to the Director of Veterans' Affairs is dishonored by the bank upon which the check is drawn, a fee in the amount of $25 will be charged. If two dishonored checks are received from the same borrower within a 12-month period, the Director may require this borrower to make all future payments by cash, money order, cashier's check or certified check;(d) Reissue of Stale, Lost, Destroyed or Missing Document Fee. Whenever a document issued by the Director must be reissued because it has been outstanding too long without being used, or has been lost, destroyed or for some other reason is missing, a fee in the amount of $50 may be charged for this service. "Document" means deed, satisfaction of mortgage, satisfaction of judgment, request for reconveyance, reconveyance, assumption agreement, contract, partial release, modification of mortgage, escrow closing papers (or some other document substantially the same as the ones enumerated). This fee may be waived if there is good reason to believe that the person requesting the reissue was not responsible for the delay that caused the document to become stale or for the disappearance of the original issue;(e) Release of Mineral Rights and Geothermal Resource Rights Fees. The Director may charge a fee of $150 for processing an application for release of mineral and geothermal resource rights. From this fee, ODVA will pay the cost of recording any document issued. An additional $100 may be charged if the nature of the application requires a review by the Division of State Lands to determine the mineral and geothermal resource potential. A check or money order in the amount of $100 made payable to the Division of State Lands will be required when the Division of State Lands review is necessary.Or. Admin. Code § 274-045-0220
DVA 2-2001, f. & cert. ef. 5-23-01; DVA 2-2005, f. & cert. ef. 4-22-05; DVA 2-2012, f. & cert. ef. 6-25-12; DVA 1-2020, temporary amend filed 01/21/2020, effective 01/22/2020 through 07/10/2020; DVA 6-2020, amend filed 07/10/2020, effective 7/11/2020Statutory/Other Authority: ORS 406.005 & 407.115
Statutes/Other Implemented: ORS 407.075 to 407.385; Oregon Constitution Article XI-A, Section 3