application fee

application fee

A fee charged by a lender,ostensibly for the time and trouble involved in processing a loan request, analyzing available data, and calculating what terms and conditions to offer. In reality,this view is a holdover from the days when consumers went to lenders,hat in hand,to plead for money.In today's very competitive lending market,where virtually every television show includes at least one mortgage lender as an advertiser, it is ludicrous to think that a consumer would pay someone for the opportunity to review a loan request.This fee will usually be waived upon request; it is simply another source of profit for the lender.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Application Fee

A fee that some lenders charge to accept an applica tion.

It may or may not cover other costs such as a property appraisal or credit report, and it may or may not be refundable if the lender declines the loan.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Those applying for an academic, language or vocational student visa, or for a visa for cultural or education exchange, will now be required to pay an extra $708, in addition to the mandatory application fee of $160 they are charged.
MACOMB, IL -- Students looking for just the right university for Fall 2019 are in luck, as Western Illinois University continues to accept applications for new students, and between July 4-7, WIU is waiving the $30 application fee for Fall 2019 applicants.
"Indian youth has to pay an application fee for the examination for any government post.
The application fee for grant of a petroleum exploration licence is Rs 100,000, official sources told reporter.
The application fee for succeeding units is at P400, the LTFRB said.
"They might be shut out by some larger application fee amount."
From now onwards, all Pakistani citizens pursuing overseas employment can pay the application fee through the JazzCash Mobile Account or any of the nationwide JazzCash retailers.
He said one charged him "administration fees" while the second asked for an "application fee".
It also is true that some units have had to apply more than once, but no application fee is charged for applications after the first one and the award committee, made up of your peers, provides very clear feedback about what can improve the unit's application.
The company has also received correspondence from the FDA that a small business waiver has been granted for the NDA application fee which is due upon submission of an NDA under the Prescription Drug User Fee Act, or PDUFA.
The Dubai Financial Services Authority (DFSA) warned on Thursday that the scammers are using a false DFSA application form to fraudulently offer a "fund status recognition certificate" to applicants upon paying an application fee.

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