OAR 274-045-0220
Fees


(1)

The Director of Veterans’ Affairs (Director) imposes fees for the following:

(a)

New Loan.

(b)

Partial Release, Easement, and Modification of Mortgage.

(c)

Dishonored Check.

(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 The appraisal fee will be refunded to the applicant if the request is withdrawn before the Director is obligated to an appraiser for the cost of a property appraisal.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 $1,000 of the $1,100 fee will be refunded if the request is withdrawn before the Director is obligated to an appraiser for the cost of a property appraisal.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.
274‑045‑0001
Definitions for OAR 274-045-0001 to 274-045-0481
274‑045‑0005
Purpose and Objectives
274‑045‑0010
Eligibility Requirements
274‑045‑0015
Authority to Protect the Security
274‑045‑0020
Who May Apply for Loan
274‑045‑0025
Evidence Required to Establish Eligibility
274‑045‑0030
Modification of Application
274‑045‑0035
Cancellation of Application
274‑045‑0040
Security for the Loan
274‑045‑0045
Legal Description of Property Offered as Security
274‑045‑0050
Appraisal of Property
274‑045‑0060
Terms of Loan
274‑045‑0070
Interest
274‑045‑0080
Approval of the Loan
274‑045‑0085
Loan Funding
274‑045‑0090
Grounds for Refusing to Make a Loan
274‑045‑0100
Evidence of Title
274‑045‑0110
Escrow Closing of Loans
274‑045‑0120
Transfer of Ownership
274‑045‑0125
Rental
274‑045‑0130
Modification of Mortgage
274‑045‑0140
Temporary Reduction of Payments
274‑045‑0145
Loan Cancellation Life Insurance
274‑045‑0150
Property Tax Amortization and Escrow Accounting
274‑045‑0160
Partial Release of Security
274‑045‑0170
Confidential Nature of Information Submitted by the Borrower
274‑045‑0180
Confidential Nature of Information Procured by the Director
274‑045‑0190
Disclosure of Information and Fees
274‑045‑0200
Director’s Decisions Control in All Controversies
274‑045‑0205
Review of Loan Determinations and Other Decisions
274‑045‑0220
Fees
274‑045‑0230
Approved Lenders
274‑045‑0240
Loan Requirements
274‑045‑0250
Reservation of Funds and Commitments
274‑045‑0260
Title Insurance
274‑045‑0270
Hazard Insurance
274‑045‑0280
Flood Insurance
274‑045‑0401
Purpose and Objectives
274‑045‑0411
Definitions
274‑045‑0421
Interest Rate
274‑045‑0431
Approval of Veterans’ Home Improvement Loans
274‑045‑0441
Terms and Requirements of Veterans’ Home Improvement Loans
274‑045‑0451
Appraisal of Property
274‑045‑0461
Transfer of Ownership
274‑045‑0471
Taxes, Hazard Insurance and Flood Insurance
274‑045‑0481
Title Insurance
Last Updated

Jun. 8, 2021

Rule 274-045-0220’s source at or​.us