document preparation fee
A third party will charge this fee to a lender, which is passed on to the borrower. This is used to cover the cost to prepare the loan closing documents.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
document
Noun: document, written document, papers (writing that provides information (especially information of an official nature))
Noun: document (anything serving as a representation of a person's thinking by means of symbolic marks)
Noun: document (a written account of ownership or obligation)
Noun: text file, document ((computer science) a computer file that contains text (and possibly formatting instructions) using seven-bit ASCII characters)
Verb: document (record in detail) "The parents documented every step of their child's development"
Verb: document (support or supply with references) "Can you document your claims?"
preparation
Noun: preparation, readying (the activity of putting or setting in order in advance of some act or purpose) "preparations for the ceremony had begun"
Noun: formulation, preparation (a substance prepared according to a formula)
Noun: planning, preparation, provision (the cognitive process of thinking about what you will do in the event of something happening) "his planning for retirement was hindered by several uncertainties"
Noun: readiness, preparedness, preparation (the state of having been made ready or prepared for use or action (especially military action)) "putting them in readiness"; "their preparation was more than adequate"
Noun: preparation ((music) a note that produces a dissonant chord is first heard in a consonant chord) "the resolution of one dissonance is often the preparation for another dissonance"
Noun: training, preparation, grooming (activity leading to skilled behavior)
Noun: homework, prep, preparation (preparatory school work done outside school (especially at home))
Noun: cooking, cookery, preparation (the act of preparing something (as food) by the application of heat) "cooking can be a great art"; "people are needed who have experience in cookery"; "he left the preparation of meals to his wife"
fee
Noun: fee (a fixed charge for a privilege or for professional services)
Noun: fee (an interest in land capable of being inherited)
Verb: tip, fee, bung (give a tip or gratuity to in return for a service, beyond the compensation agreed on) "Remember to tip the waiter"; "fee the steward"
- document preparation fee -
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