The City of Lynn’s Ordinance designates that a mediation administration, or registration fee, is to be charged to the Mortgagee or its Mortgage Servicer for the services attendant to administering the established Mediation Program. The Ordinance also states that any fees assessed pursuant to this Ordinance shall not be charged to the Mortgagor, or Homeowner.
Massachusetts Dispute Resolution Services [MDRS] shall be directly paid by the Mortgagee or its Mortgage Service Provider a non-refundable registration/administrative fee of $650.00 per case, payable upon return of the Lender Authorization and Payment Form
Further, when in-person Mediation Conferences are required, Fees of $300.00 per hour will be charged in two-hour increments, payable prior to scheduled mediation sessions. Any mediation sessions scheduled beyond the second session must be agreed to by the homeowner, the lender, and the mediator.
In cases that have been actively mediated as part of Lynn’s Foreclosure Mediation Program, where the homeowner has again fallen behind with their mortgage payments, the homeowner will be allowed to re-mediate once after a 1-year period has passed, if the homeowner has evidence that their financial situation has changed in such a way as to have affected their ability to fulfill their mortgage obligations as previously agreed. In such cases, tiered pricing will be offered to the lender as follows: $500.00 administrative fee to be paid up front for such reoccurrences, with standard $300.00/hour in-person mediation fees as required; 75% [$375.00] of the administrative fee will be refunded to the lender if the homeowner reinstates and the lender notifies MDRS of such, with evidence and in writing, prior to the initial conference call. The tiered pricing applies to reoccurrences only.
For more information, please refer to Initiation of Foreclosure Mediation Cases.
