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MERS® System Pricing Schedule

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About Fees

Fees consist of an annual membership fee, certain types of transaction fees, and other charges as applicable. Membership fees vary according to a company’s size, annual production, or transaction and servicing volumes. Initial membership fees are billed following the approval of a signed membership application, and annual renewals are billed based on the anniversary date of membership.


MERS® System

Annual Membership Fees

  • Lite: $264
  • Lite-Restricted (Lite-R): $150
  • Patron: $1,000
  • General, Tier 1: $500 (for companies with an annual production volume of less than $250 million, OR a servicing portfolio of under $2 billion, whichever is greater)
  • General, Tier 2: $2,000 (for companies with an annual production volume of $250 million to $1 billion, OR a servicing portfolio of $2 billion to $10 billion, whichever is greater)
  • General , Tier 3: $5,500 (for companies with an annual production volume of $1 billion to $10 billion, OR a servicing portfolio of $10 billion to $50 billion, whichever is greater)
  • General, Tier 4: $7,500 (for companies with an annual production volume of more than $10 billion, OR a servicing portfolio of more than $50 billion, whichever is greater)

Membership Types

  • General: For lenders that typically service loans. General memberships are available in four different tiers based on annual volume of loan originations or servicing (whichever is greater; see above).
  • Lite: For lenders that originate and sell loan servicing rights on a flow basis within 120 days.
  • Lite-Restricted (Lite-R): For lenders/brokers that close MERS loans for immediate sale to an Investor, where the Investor will perform the transactions on the MERS® System.
  • Patron: For companies who support MERS® System-registered loans, but do not typically register them.

Transaction Fees

  MOM and Non-MOM LoansAmount
(per loan)
  Registration $  11.95  
  Pre-closing registration 0.97  
    Post-closing registration (after paying pre-closing
    registration fee of $0.97)
10.98  
  Seasoned servicing transfer 11.95  
  Seasoned Intracompany transfer 2.50  
  Transfer to non-MERS status 1.00  
  Certificate Processing Fee 10.00  
  iRegistrationsAmount
(per loan)
  Registration $  0.97  
  Pre-closing registration 0.97  
  Conversion of iRegistration to non-MOM 10.98  
  Seasoned servicing transfer 0.97  
  Seasoned Intracompany transfer 0.97  
  Transfer to non-MERS status 0.97  

 


 

MERS® eRegistry

Use of the MERS® eRegistry is not subject to an additional membership fee. Usage is covered under the scheduled membership fee for the MERS® System.

  Transactions (see Notes below) Amount 
(per Transaction)
  eNote Registration $    4.95  
  Security instrument registration on the MERS® System 11.95  
  Combined eNote registration on the MERS® eRegistry and 
      security instrument registration on the MERS® System1
15.90  
  Transfer of control—seasoned loan2 2.00  
  Transfer of control—flow loan2 - 0 -  
  Transfer of location - 0 -  
  Transfer of delegatee - 0 -  
  Transfer to proprietary registry 2.00  
  eNote conversion to paper 10.00  
  eNote deactivation - 0 -  
  Assumption or modification - 0 -  
  eRegistry Certificate Processing Fee 100.00  
  eDelivery $0.10  

NOTES:

  1. When a loan’s security instrument with MERS as mortgagee is registered on the MERS® System, and the eNote is also registered on the MERS® eRegistry, a discount of $1.00 is granted for the second registration.
  2. A Transfer of Control-seasoned loan fee will be charged when the transfer date is greater than 270 days from the note date. When the transfer date is 270 days or less from the note date, then the transaction is a Transfer of Control-flow loan. Intracompany Transfers of Control are included in this category.

OTHER CHARGES:

  • New broker membership fee (paid by delegatee when a new broker is activated on the eRegistry): $50.00
  • Annual broker renewal fee (paid by delegatee): $10.00


 

MERS® Link

A subscription to MERS® Link is available for $250.00 per year. Click here to learn how to subscribe.You may also access MERS® Link through your paid membership to the American Land Title Association.

FOR GOVERNMENT INSTITUTIONS: State, local and county governments can subscribe to MERS® Link free of charge to help locate property preservation contacts for homes in their areas.


MERS® Commercial

MERS® Commercial fees consist of the annual membership fee, the per-loan registration fee, and other charges if applicable. Membership fees vary according to company type as follows:

Membership Fee

Membership TypesAnnual
Fee
  GENERAL: Includes issuers/investors, primary servicers and trustees/custodians $ 7,500  
  CORRESPONDENT: Includes originators selling closed loans, correspondents and brokers 1,000  
  PATRON (All others): For companies who support MERS® System-registered 
  loans but do not typically register them. Patron memberships can be convert 
  to full membership at any time.
1,000  
  Registration Fee 250  


Miscellaneous Charges

  • EXCESS MAIL FEE: $12.00 charged for each document as defined in Rule 5, Section 4 of the MERS® System 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.
  • PHYSICAL DELIVERY FEE: Members who request physical delivery of service of process documents, in addition to receiving them electronically, will incur a $2.00 per document charge.
  • RETURNED PAYMENT FEE: $25.00 per item.
  • TRAINING: Free initial training by conference call. Subsequent training options: By conference call ($150); at the MERSCORP Holdings corporate office (free); at a member's site ($750, plus trainers' travel expenses); web seminars ($35 per standard session; higher fees apply for select sessions).
  • VALUE-ADDED SERVICES: Any value-added services are priced, disclosed and agreed to with members prior to the service being rendered.
  • CERTIFICATE PROCESSING FEE: $10 fee charged to the 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 Seasoned Servicing Transfer Fee or Intracompany Transfer Fee.
  • eREGISTRY CERTIFICATE PROCESSING FEE: $100 fee charged to the MERS® eRegistry Participant authorizing MERS to initiate a transaction on the MERS® eRegistry. The fee is charged in addition to the applicable transaction fee.

Definition of Terms

  • CONVERSION OF iREGISTRATION TO NON-MOM FEE: Charged to the servicer when a Conversion transaction is performed on the MERS® System to change the MOM indicator on a MIN from an iRegistration to Non-MOM because the loan was assigned to MERS.
  • SEASONED INTRACOMPANY TRANSFER FEE: Fee charged to the transferor when a seasoned servicing transfer transaction is performed on the MERS® System between two Org IDs associated pursuant to a Primary/Secondary Relationship Agreement.
  • iREGISTRATION: Loan registered on the MERS® System for informational purposes only where Mortgage Electronic Registration Systems, Inc. is not the mortgagee or assignee.
  • PRE-CLOSING REGISTRATION FEE: Charged to the member that registers a loan on the MERS® System prior to the loan's date.
  • POST-CLOSING REGISTRATION FEE: Charged to the member that activates a loan previously registered as a Pre-Closing on the MERS® System, usually after the loan has closed.
  • REGISTRATION: Registration of loans onto the MERS® System.
  • SEASONED SERVICING TRANSFER FEE: Charged to the transferor when a seasoned servicing transfer transaction is performed on the MERS® System between two parties that are not associated pursuant to a Primary/Secondary Relationship Agreement. 

NOTE: Currently, there are no additional transaction fees for transfers of beneficial rights. There is also no fee for Flow Servicing Transfers. A transfer is considered "Flow" if the transfer date is 270 or fewer calendar days from the note date. 

  • TRANSFER TO NON-MERS STATUS: Members who transfer servicing to a non-MERS Member record an assignment out of MERS, or stop tracking an active iRegistration loan on the MERS® System, 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.

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