For how many days from the date of transfer may the new servicer not charge a late fee to the borrower?

Late fees are an important consideration in the context of mortgage servicing, particularly when a loan is transferred from one servicer to another. According to federal regulations, when a mortgage loan is transferred, the new servicer is not allowed to charge a late fee to the borrower for a specific period following the transfer. This helps to ensure the borrower is not penalized for any potential delays in processing payments that may arise due to the transition between servicers.

In this case, the correct duration during which the new servicer cannot charge a late fee is 60 days from the date of transfer. This policy is designed to provide a buffer for borrowers, allowing them adequate time to become familiar with the new servicer's processes and to ensure that their payments are properly credited without the added pressure of late fees during the transition period. Understanding this policy is essential for both borrowers and loan officers in navigating servicing changes effectively.