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How long can a mortgage company wait to charge late fees?

Business 7 views 1 answers
I have a mortgage with Nationstar Mortgage. My July 10, 2015 statement it shows a $60.94 charge under TOTAL FEES AND CHARGES. I emailed them and they said it was a late fee from January 2015. Are they suppose to be more accurate with their accounting and charge these fees in a timely manner and not seven months later? Do I have any recourse?

Attorney Answer

1
Stuart Lautin ·
Your lender will have many years to assess fees, costs and charges. That changes, however, at the time the loan is paid and the lender submits a payoff statement (we call it an 'estoppel') to the title company. At that juncture, absent manifest error, the lender will be waiving all of such additional fees if they are not included in the estoppel.
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