Assumption Fee

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Assumption Fee

A fee that the buyer of a property with an assumable mortgage pays to the lender for the ability to take over the mortgage.
References in periodicals archive ?
0 million in assumption fees received during the third quarter 2015.
The increase was driven by significant growth in our cash earnings such as servicing fees, investment sales revenues, prepayment fee income, loan assumption fees and net interest income, partially offset by the aforementioned increase in personnel expenses.
Ancillary income, including late charges, insurance fees, assumption fees, and the like, contributed 17 percent of gross revenues, or $49 per loan.
The transaction generated net proceeds of approximately $60 million to Glimcher after considering debt assumption fees and ordinary closing costs.
The cash stream is comprised of the servicing fee, income related to any escrows, and ancillary income such as late fees assumption fees, and so forth.
This section also generally contains arrangements regarding incentive compensation, if any, the ownership of, and fee income related to escrow funds and ancillary income derived from late charges, assumption fees and so forth.
Assumption fees are a component of mortgage servicing fees in Capmark's condensed consolidated statement of operations, and Capmark earns an assumption fee when an existing borrower's mortgage is assumed by a new borrower.
The contract includes a provision requiring Denholtz to pay all prepayment penalties and assumption fees on Banyan's real estate debt.
As announced on July 1, the primary purpose of the meeting will be to consider the sale of substantially all of its assets to Glimcher Realty Trust for an aggregate purchase price of $197,000,000 plus prepayment penalties and assumption fees, in accordance with the terms of the purchase and sale agreement by and among Glimcher, RPI and certain other entities affiliated with RPI, dated as of March 11, 1996, as amended, and the complete and voluntary liquidation and dissolution of RPI pursuant to the plan of liquidation and dissolution of RPI.
As a result of due diligence and final negotiations, the aggregate purchase price has been reduced from $203 million to $197 million, plus prepayment penalties and assumption fees, and Glimcher Realty Trust's right to terminate the purchase and sale agreement under certain conditions as a result of its due diligence has generally been removed.