Fees in Loan Origination and Servicing

Yara Lennon16 Sep, 2024Technology

Lenders leverage fees to generate revenue, cover operational costs, and manage risk. Some of the most common types of fees seen are Origination Fees, Servicing Fees, Late Payment Fees, Insufficient Funds Fees, etc. A lending software solution can support different types of fees in loan origination and servicing by incorporating flexible and customizable fee structures, which contributes to a more streamlined and scalable lending operation.