What type of fees are included under the term "lender fees" in Minnesota?

The term "lender fees" in Minnesota specifically refers to fees that are directly related to processing and closing a mortgage. These fees typically include the costs associated with underwriting, processing, and other activities that are essential for the lender to facilitate the mortgage transaction.

Understanding that lender fees encompass the necessary expenditures that enable the closing of a mortgage transaction is crucial for prospective borrowers. These fees are distinct from other costs that might be involved in the mortgage process, such as appraisal fees or loan maintenance fees, which are not categorized as lender fees. This clarity ensures that borrowers can better navigate the various costs associated with obtaining a mortgage and can differentiate between what is directly charged by the lender and other associated expenses that may arise during the process.