Virgin Islands

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REO Preservation & Protection Cost Schedules for Virgin Islands

Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit.

Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft.
Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55
Exterior surface and edges of all plywood should be painted with one coat white primer and one coat white finish. Use of screws to secure panels to wood frame windows is prohibited. Additionally, boarding is pre-approved in the zip code areas listed on pages 21 and 22 under heading Carribean (EXCEPTION: There is no pre-approved boarding in ANY gated community within these zip code areas).

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $50.00
Maximum Allowable 1-Unit (12 cu yd.) $600.00
Maximum Allowable 2-Unit (15 cu yd.) $750.00
Maximum Allowable 3-Unit (18 cu yd.) $900.00
Maximum Allowable 4-Unit (21 cu yd.) $1050.00
Vehicle Removal $190.00
One before and one after photograph is required for each room or outbuilding containing debris to be removed.

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $85.00
Initial Cut 10,001 to 15,000 sq. ft. $105.00
Re-Cut up to 10,000 sq. ft. $80.00
Re-Cut 10,001 to 15,000 sq. ft. $100.00
Trim Shrub $30.00
Snow Removal $0.00

Dry Heat 1-Unit $0.00
Dry Heat Additional Units (2-4 Units) $0.00
Steam Heat 1-Unit $0.00
Steam Heat Additional Units (2-4 Units) $0.00
Radiant Heat: Hot Water 1-Unit $0.00
Radiant Heat: Hot Water Additional Units (2-4 Units) $0.00
Do not winterize.

Cost Limit Flat Fee (included in Maximum Allowable) $30.00

Atlanta Homeownership Center
Ralph Jackson,
REO Director
(678) 732-2153

Contacts for Lender Appeals

Virgin Islands AG Atlantic Alliance Kenneth Wiar/(972) 419-6904
Gloria Watson/(678) 732-2613

Post Endorsement Fees
Substitution of Hazard Insurance Policy at other than expiration of existing policy, if not prohibited by state law. $10.00
Processing / reprocessing of NSF (non-sufficient funds check). $10.00
Modification of mortgage involving a recorded agreement for extension of the terms of reamortization. $50.00
Modifications of mortgaged property includes, but is not limited to: release lot/acreage from original secured parcel, order-of-taking, condemnation, subordination or consent to easement, subdivision consent, lot line dispute or adjustment, consent to change in covenants and restrictions. $100.00
Providing a copy of Mortgage / Deed of Trust: only if duplicate of what was already provided mortgagor. $10.00
Providing a copy of Mortgage Note: only if copy is duplicate of what was already provided mortgagor. $10.00
Providing a copy of settlement statement, gift letters, and other documents: other than those provided at closing. $10.00
Providing new amortization schedule, other than at closing. $15.00
Providing payoff statements: (other than initial) no charge for 1st two requests per calendar year; then each additional statement. $10.00
Providing replacement coupon books. $5.00
Providing mortgagor payment history: other than current and 1 prior year. $5.00
Verifying mortgage to prespective creditor/lender: Verify status of existing loan (in connection with refinance application.) Only allowed when mortgagor has given present lender written authorization to release information to prospective lender and charge fee. $20.00
Providing duplicate year-end statement. $5.00
Faxing payoff statement on request of mortgagor. $5.00
Incorporating borrower name change in servicer’s system. $0.00
Re-Analyzing escrow accounts and providing coupon books. $0.00

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