would someone please explain to me in layman's term what is processing and compliance fee and what purpose does it serve? is 16,900 the average rate?
I have never seen a fee for "processing and compliance". Your escrow paperwork should say who that fee was paid to. I would find out what work that person claimed to have performed to earn that fee.
Please consult or retain a lawyer for your particular issue.
First you need to explain what the fee what for? There are processing and compliance fees for everything from using paypal to buying a house.
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Who is charging the fee? Are these escrow fees? If so, they seem quite high depending on the transaction. Are these broker fees? If so, then the broker gets paid a percentage of the purchase price, usually 6%. Your question is not clear enough to advise you.
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