A fee a lender charges a borrower at the maturity of the loan or before. This allows the lender to recoup any costs or prevent any unexpected losses. Separate from a pre-payment penalty, which is a fee for early paydown.
A fee a lender charges a borrower at the maturity of the loan or before. This allows the lender to recoup any costs or prevent any unexpected losses. Separate from a pre-payment penalty, which is a fee for early paydown.