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.
The plaintiffs also alleged that the insurers failed to charge the Reissue Rate in other circumstances where the law so required.
Included in the classes are persons that paid a title insurance premium to Lawyers Title, Ticor/American Pioneer, and Fidelity from 1999 to 2005 (the exact dates within each year vary with each settlement) that should have been, but were not, charged a premium based on the Reissue Rate in connection with (1) a mortgage refinancing; (2) the purchase of unimproved land; and/or (3) the purchase of a property from a seller that purchased and resold that property within three years.
The insurers now agree that charging Reissue Rates is mandatory and that virtually all Florida residents are eligible for such rates.
The plaintiffs also alleged that The Fund failed to charge the Reissue Rate in other circumstances where the law so required.
Included in the class are persons that paid a title insurance premium to The Fund from February 1, 1999 to September 5, 2005 that should have been, but were not, charged a premium based on the Reissue Rate in connection with (1) a mortgage refinancing; (2) the purchase of unimproved land; and/or (3) the purchase of a property from a seller that purchased that property within three years of your purchase.
In the settlement documents, The Fund agrees that charging Reissue Rates is mandatory, and that virtually all Florida residents are eligible for such rates.
At the beginning of year 5, the insured may apply for reissue rates.
At the beginning of year 9, those who qualified for reissue rates at the beginning of year 5 apply again.
At the beginning of year 13, those who qualified for reissue rates at the beginning of year 9 apply again.
At the beginning of year 17, those who qualified for reissue rates at the beginning of year 13 apply again.
ClosingCorp, a leading provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers, announced today it has added new functionality to its SmartGFE([R]) Service and SmartGFE([R]) Calculator related to
reissue rates.
