MEMBERSHIP FEES

MEMBERSHIP TYPE	The Greater Of	ANNUAL PRODUCTION VOLUME	OR	SIZE OF SERVICING PORTFOLIO	=	ANNUAL MEMBERSHIP FEE
General Member: Tier 1		Less than $250 million		Under $2 billion		$500
General Member: Tier 2		$250 million to $1 billion		$2 billion to $10 billion		$2,000
General Member: Tier 3		$1 billion to $10 billion		$10 billion to $50 billion		$5,500
General Member: Tier 4		More than $10 billion		More than $50 billion		$7,500
Lite Member		N/A		N/A		$264
Patron Member		N/A		N/A		$1,000

MEMBERSHIP types

MEMBERSHIP TYPE	DEFINITION
General Membership	For lenders who typically service loans. General memberships are available in four different tiers based on annual volume of loan originations or servicing (whichever is greater; see table above)
Lite Membership	For lenders who originate and sell loan servicing rights on a flow basis within 30 days
Patron Membership	For vendors and other organizations who work with MERS loans but do not register them

TRANSACTION FEES

MOM & Non-MOM Loans	Amount (per loan)
Registration Fee	$6.95
Pre-Closing Registration Fee	$0.97
· Post-Closing (after paying Pre-Closing Registration Fee of $0.97)	$5.98
MERS® 1-2-3 Registration Fee	$7.95
Seasoned Servicing Transfer Fee	$6.95
Intracompany Transfer Fee	$2.50
Transfer to Non-MERS Member Fee	$1.00
Transactions Authorized by Member Certificate	$10.00

MERS® iRegistrations	Amount (per loan)
Registration Fee	$0.97
Pre-Closing Registration Fee	$0.97
Conversion of iRegistration to Non-MOM Fee	$5.98
Seasoned Servicing Transfer Fee	$0.97
Intracompany Transfer Fee	$0.97
Transfer to Non-MERS Member Fee	$0.97

OTHER CHARGES

MERS CORPORATE SEALS: $25.00 each (plus shipping).

MERS® InvestorID MORTGAGE LOAN TRANSFER NOTICE: $0.97 per notice, charged to new investor.

EXCESS MAIL FEE: $12.00 charged for each document as defined in Rule 5, Section 4 of the MERS Rules of Membership.

EXTERNAL RESEARCH FEE: $95.00 charged for each loan requiring additional research because the MERS® System does not reflect the correct information.

MERS® InvestorID MORTGAGE LOAN TRANSFER NOTICES: $0.97 per notice.  A system-generated letter mailed to the borrower when the investor on the MERS® System-registered loan changes.  The fee is charged to the new investor.

TRAINING: Training via conference call is available to all MERS members without charge. Training at a member’s site is also available for $750 (plus airfare, hotel and other reasonable expenses). Other training arrangements can be made depending upon a member’s needs. Members who choose to travel to the MERS corporate office for training will not be charged a fee.

VALUE-ADDED SERVICES: Any value-added services are priced, disclosed and agreed to with members prior to the service being rendered.

DEFINITION OF TERMS

CONVERSION OF iREGISTRATION TO NON-MOM FEE: charged to the MERS member who initiates a Conversion transaction to change an iRegistration loan to Non-MOM when the loan is assigned to MERS.

INTRACOMPANY TRANSFER FEE: charged for transfers of loans between one or more Organization IDs assigned to the same member or between members in a parent/child relationship.

MERS^® 1-2-3 REGISTRATION: registration of loans onto the MERS^â System by a MERS^â 1-2-3 participant when a preliminary registration file was previously generated.

MERS® iREGISTRATION: loan registered on the MERS® System for informational purposes only where MERS is not the mortgagee or assignee.

REGISTRATION : registration of loans onto the MERS^â System.

SEASONED SERVICING TRANSFER FEE : charged to the MERS member who initiates a seasoned servicing transfer transaction to another member. Seasoned Servicing Transfers are defined by the particular Purchase and Sale Agreement between a buyer and a seller that identifies a predefined portfolio of servicing to be sold on a specific sale date and transferred on a specific transfer date. Seasoned Servicing Transfers typically occur independent of the sale of the beneficial rights of the loans in a portfolio.

NOTE: Currently, there are no additional transaction fees for transfers of beneficial rights. There is also no fee for Flow Transfers of Servicing. A Flow Transfer of Servicing is defined by a Purchase and Sale Agreement that identifies a commitment to deliver a specified dollar volume (unpaid principal balance) of servicing on a specific delivery schedule associated with the sale of beneficial rights. The MERS^â System will not permit a Flow Transfer of Servicing if the transfer date is greater than 270 days from the note date on that loan. In this case, the Seasoned Servicing Transfer Fee applies.

TRANSACTIONS AUTHORIZED BY MEMBER CERTIFICATE: Charged to member authorizing MERS to initiate a transaction to reflect the correct servicer on the MERS® System. This fee is charged in addition to the applicable Intracompany or Seasoned Servicing Transfer fee.

TRANSFER TO NON-MERS MEMBER : members who transfer servicing to a non-MERS Member are charged a nominal deactivation fee. For MOM and Non-MOM loans, members are also responsible for preparing and recording an assignment from MERS to the buyer.