Product Fees Schema

Product Fees Schema

The product fees schema describes all fees associated with a lender’s loan product, including establishment fees, ongoing account fees, and optional charges.

Overview

When you receive a servicing result from the compute servicing endpoint, each loan in the per_loan_rate_breakdown array includes a productFees array detailing all associated costs.

Fee Structure

interface ProductFee {
  name: string;
  amount: number;
  frequency: 'once' | 'monthly' | 'yearly' | 'other';
  description?: string;
  payablePer: 'split' | 'application' | 'security';
  payAt: 'start' | 'end';
  isPromotional: boolean;
  isOptional?: boolean;
}

Field Descriptions

Core Fee Fields

Field	Type	Description
name	string	Name of the fee (e.g., 'Settlement Fee', 'Account Management Fee')
amount	number	Dollar amount of the fee
frequency	string	How often the fee is charged: 'once', 'monthly', 'yearly', 'other'
description	string	Optional additional details about the fee
payablePer	string	What the fee applies to: 'split' (per loan split), 'application' (whole application), 'security' (per property)
payAt	string	When the fee is charged: 'start' (upfront/settlement), 'end' (at discharge)
isPromotional	boolean	Whether this is a promotional/discounted fee
isOptional	boolean	Whether this fee is optional (may not always be present)

Example:

{
  "name": "Account Management Fee",
  "amount": 25,
  "frequency": "monthly",
  "description": "Per loan split",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false
}

Common Fee Types

One-Time Fees (Upfront)

Fees charged once at the start of the loan:

{
  "name": "Establishment Fee",
  "amount": 399,
  "frequency": "once",
  "description": "Payable at settlement & includes one standard security appraisal of a property ≤ $2M.",
  "payablePer": "application",
  "payAt": "start",
  "isPromotional": false
}

{
  "name": "Legal & Administration Fee",
  "amount": 500,
  "frequency": "once",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

Ongoing Fees

Fees charged regularly throughout the loan term:

{
  "name": "Account Management Fee",
  "amount": 25,
  "frequency": "monthly",
  "description": "Per loan split",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false
}

Discharge Fees

Fees charged when the loan ends:

{
  "name": "Settlement Fee",
  "amount": 500,
  "frequency": "once",
  "payablePer": "split",
  "payAt": "end",
  "isPromotional": false
}

{
  "name": "Discharge Admin Fee",
  "amount": 690,
  "frequency": "other",
  "description": "",
  "payablePer": "security",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

Optional/Conditional Fees

Fees that only apply in certain circumstances:

{
  "name": "Split Loan Fee",
  "amount": 350,
  "frequency": "other",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

{
  "name": "Guarantor Fee",
  "amount": 250,
  "frequency": "once",
  "description": "Applied per application",
  "payablePer": "application",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

{
  "name": "Trust Fee",
  "amount": 250,
  "frequency": "other",
  "description": "Applied per Trust",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

Variable/Situational Fees

{
  "name": "Dishonour Fee",
  "amount": 50,
  "frequency": "other",
  "payablePer": "split",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

{
  "name": "Security Appraisal Fee",
  "amount": 380,
  "frequency": "other",
  "description": "Payable at settlement for additional securities. Payable upfront for non-standard security appraisals or properties > $2M.",
  "payablePer": "security",
  "payAt": "start",
  "isPromotional": false,
  "isOptional": true
}

Complete Example from RedZed

Below is the complete fee structure for RedZed’s SE Prime product:

{
  "productFees": [
    {
      "name": "Settlement Fee",
      "amount": 500,
      "frequency": "once",
      "description": "",
      "payablePer": "split",
      "payAt": "end",
      "isPromotional": false
    },
    {
      "name": "Legal & Administration Fee",
      "amount": 500,
      "frequency": "once",
      "description": "",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Split Loan Fee",
      "amount": 350,
      "frequency": "other",
      "description": "",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Guarantor Fee",
      "amount": 250,
      "frequency": "once",
      "description": "Applied per application",
      "payablePer": "application",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Trust Fee",
      "amount": 250,
      "frequency": "other",
      "description": "Applied per Trust",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Account Management Fee",
      "amount": 25,
      "frequency": "monthly",
      "description": "Per loan split",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false
    },
    {
      "name": "Dishonour Fee",
      "amount": 50,
      "frequency": "other",
      "description": "",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Early Termination Fee",
      "amount": 0,
      "frequency": "once",
      "description": "",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Discharge Admin Fee",
      "amount": 690,
      "frequency": "other",
      "description": "",
      "payablePer": "security",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Disbursement Fee",
      "amount": 83,
      "frequency": "other",
      "description": "",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Offset Fee",
      "amount": 0,
      "frequency": "other",
      "description": "No additional RedZed set-up or ongoing service fees for an Offset Sub-Account.",
      "payablePer": "split",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    },
    {
      "name": "Establishment Fee",
      "amount": 399,
      "frequency": "once",
      "description": "Payable at settlement & includes one standard\nsecurity appraisal of a property ≤ $2M.\n(+Fee waived if a Security Appraisal Fee is payable for\nnon-standard security appraisals, or properties > $2M)",
      "payablePer": "application",
      "payAt": "start",
      "isPromotional": false
    },
    {
      "name": "Security Appraisal Fee",
      "amount": 380,
      "frequency": "other",
      "description": "Payable at settlement for additional securities.\nPayable upfront for non-standard security\nappraisals or properties > $2M.",
      "payablePer": "security",
      "payAt": "start",
      "isPromotional": false,
      "isOptional": true
    }
  ]
}

Understanding Fee Application

Payable Per

• split: Fee applies to each loan split

  • Example: 2 loan splits = 2× the fee
  • Common for: Account fees, split loan fees

• application: Fee applies once per application

  • Example: 2 loan splits = 1× the fee
  • Common for: Establishment fees, guarantor fees

• security: Fee applies to each property used as security

  • Example: 2 properties = 2× the fee
  • Common for: Valuation fees, discharge fees

Payment Timing

• start: Paid at settlement/loan establishment

  • Most upfront fees fall into this category

• end: Paid when the loan is discharged

  • Example: Settlement fees

Frequency

• once: One-time charge
• monthly: Recurring monthly charge
• yearly: Recurring annual charge
• other: Variable or situational (check description)

Working with Fees

Calculate Total Upfront Costs

function calculateUpfrontCosts(productFees: ProductFee[], numSplits: number, numSecurities: number): number {
  let total = 0;

  productFees.forEach(fee => {
    // Only include fees payable at start
    if (fee.payAt !== 'start') return;

    // Skip optional fees with $0 amount
    if (fee.isOptional && fee.amount === 0) return;

    let feeAmount = fee.amount;

    // Apply multiplier based on payablePer
    if (fee.payablePer === 'split') {
      feeAmount *= numSplits;
    } else if (fee.payablePer === 'security') {
      feeAmount *= numSecurities;
    }
    // 'application' fees are only charged once

    total += feeAmount;
  });

  return total;
}

// Example usage
const upfrontCosts = calculateUpfrontCosts(
  result.per_loan_rate_breakdown[0].productFees,
  2, // 2 loan splits
  1  // 1 property
);
console.log(`Total upfront costs: $${upfrontCosts.toLocaleString()}`);

Calculate Ongoing Monthly Costs

function calculateMonthlyCosts(productFees: ProductFee[], numSplits: number): number {
  let total = 0;

  productFees.forEach(fee => {
    if (fee.frequency !== 'monthly') return;

    let feeAmount = fee.amount;

    if (fee.payablePer === 'split') {
      feeAmount *= numSplits;
    }

    total += feeAmount;
  });

  return total;
}

// Example usage
const monthlyCosts = calculateMonthlyCosts(
  result.per_loan_rate_breakdown[0].productFees,
  2 // 2 loan splits
);
console.log(`Monthly ongoing fees: $${monthlyCosts.toLocaleString()}`);

Filter Optional Fees

const mandatoryFees = result.per_loan_rate_breakdown[0].productFees.filter(
  fee => !fee.isOptional
);

const optionalFees = result.per_loan_rate_breakdown[0].productFees.filter(
  fee => fee.isOptional
);

console.log('Mandatory fees:', mandatoryFees.map(f => f.name));
console.log('Optional fees:', optionalFees.map(f => f.name));

Group Fees by Category

const feesByTiming = {
  upfront: result.per_loan_rate_breakdown[0].productFees.filter(f => f.payAt === 'start'),
  discharge: result.per_loan_rate_breakdown[0].productFees.filter(f => f.payAt === 'end')
};

const feesByFrequency = {
  oneTime: result.per_loan_rate_breakdown[0].productFees.filter(f => f.frequency === 'once'),
  monthly: result.per_loan_rate_breakdown[0].productFees.filter(f => f.frequency === 'monthly'),
  yearly: result.per_loan_rate_breakdown[0].productFees.filter(f => f.frequency === 'yearly'),
  other: result.per_loan_rate_breakdown[0].productFees.filter(f => f.frequency === 'other')
};

Important Notes

1. Fee amounts may be $0: Some fees (like “Offset Fee” or “Early Termination Fee”) may have amount: 0, indicating no charge for that feature
2. Optional fees: Fees marked with isOptional: true may not apply to every loan scenario
3. Descriptions matter: Always check the description field for important context about when/how fees apply
4. Promotional fees: When isPromotional: true, the fee may be temporary or part of a special offer
5. Newlines in descriptions: Some descriptions contain \n characters for multi-line formatting

Next Steps

• Servicing Result Schema - Parent schema documentation
• Compute servicing endpoint - How to request calculations
• Product schema - Understand lender product configurations

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Last updated: 2025-11-06