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.
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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.
UDR said that the transaction is expected to be funded through the issuance of up to USD 753m of UDR OP units issued at USD35 per unit, the assumption of USD 90m of debt and USD 65m in cash, inclusive of transfer taxes and loan assumption fees.
"It might be wise to walk away from the $50,000 spent on attorney fees or assumption fees and just say, 'I can't go any further because it's going to cost me more,'" Cherry said.
* The cost of assuming the debt (higher interest rate, shorter maturity, more collateral or covenants and assumption fees).
Ancillary income, including late charges, insurance fees, assumption fees, and the like, contributed 17 percent of gross revenues, or $49 per loan.