Do the actual recording fees charged after closing exceed the amount disclosed prior to closing?
Valid questions that have surfaced among our frontline staff include: What's the best way to work with our lender customers to improve accuracy in estimating title insurance premiums, transfer taxes and recording fees? How and when should changes to the Closing Disclosure be documented and conveyed to lenders?
Unlike many of the other title calculators offered by title companies, OneSourceQuote provides users with the reissue rate calculation on refinances and exact recording fees
through an integration with a national recording database that is updated daily.
They include loan origination fees, recording fees
, county taxes, attorneys' fees, and appraisal fees.
However, the Third Circuit recently found that costs such as marketing, research, credit reports, appraisals, recording fees
, and related salaries and benefits can be currently deducted as ordinary and necessary business expenses under IRC section 162.
: This depends on whether you operate from home or rent studio time.
"Since title and settlement agents ultimately pay and file recording fees
and transfer taxes, having timely access to the most reliable data available is critical," said Paul Mass, president of ClosingCorp.
"That such a large majority of respondents considered recording fees
and transfer taxes to represent their most difficult problem is surprising," said Gregory Teal, president and chief executive of Ernst.
ClosingCorp's SmartGFE combines a company-backed compliance guarantee with instant access to real-time pricing data for title insurance, settlement services and GFE Block 6 data as well as local transfer taxes and recording fees
. The SmartMonitor Alert feature automatically notifies lenders or brokers of any changes in transfer taxes or recording fees
prior to closing, giving them time to redisclose.
He was the first to provide multiple recording fee
and tax calculators on the Web in 2001.