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# Fees & Charges (Applies to Mortgage Transactions

## Fees

When multiple fees exist for a time frame (when applicable) for the same Fee Name, a unique User Fee Name is required. The User Fee Name does not print on any documents and is used only for display purposes.

## What fees are included in the Military Annual Percentage Rate (MAPR)? (Applies to Mortgage Transactions)

All fees that affect the APR are always included in the MAPR calculation. The MAPR calculation can also include fees that do not affect the APR. For example, application fees are listed among the charges that do not affect the APR under Regulation Z; however you will need to check the MAPR check box to include it in the MAPR calculation. See §1026.4(c)(1)) and 32 CFR 232.4(c)(1)(iii)(A) for additional details.

## Terms of Coverage (Applies to Mortgage Transactions)

When an organization uses multiple payment frequencies for transactions, the use of a Fee, Fee Policy, and Template for each payment frequency may streamline the data entry process.

- A value of 12 for the Terms of Coverage is one year of coverage when the transaction payment frequency is Monthly.

- A value of 26 for the Terms of Coverage is one year of coverage when the transaction payment frequency is Every Other Week.

- A value of 4 for the Terms of Coverage is one year of coverage when the transaction payment frequency is Quarterly.

For example:

For a fee that has Prepaids selected in the Section list, Terms of Coverage is used with the transaction’s payment frequency to determine the length of insurance coverage.

## Late Charges (Applies to Mortgage Transactions)

Defined late charges may be shared with an existing organization by selecting Share with Orgs.