Posted by DC001/MD on 5/17/13 9:59pm
Msg #470396

Maryland Fees

I have been getting a lot of calls lately for Maryland closings offering $85.00 and less for a refi, I always tell them no and tell them my fee is $125 and sometimes I will go as low as $100 without fax backs and they say they can't do it for that. They don't call me back so someone out there is closing their loans for their low fees. I don't understand why anyone would close a loan for that? I know several Maryland LTP's and all of our fees are the same, so again why?

Reply by sueharke on 5/17/13 10:16pm
Msg #470399

Poor planning and stupidity by the people taking $85.

Reply by Rita Adu on 5/18/13 11:46am
Msg #470423

I also believe that MANY of these companies are using "notaries" and not LTP's. I met someone who asked me if I was licensed and I told him "yes". He then told me that he signs, but he can't sign when the companies ask him if he's licensed. I told him that he was breaking the law b/c the company doesn't determine this, but the state does. I'm guessing these folks will take the lower fees.

Reply by Alice/MD on 5/18/13 2:16pm
Msg #470429

There is no one watching to make sure the law is followed here in Maryland. I have been told by Signing Services that they don't look for a LTP to do their closings in Maryland because they use "regular notaries all the time".

I can't afford to do closings for lower fees when I pay $788 for my Surety Bond plus the cost for CE classes to keep my license. My fee must reflect these cost.

Reply by DC001/MD on 5/21/13 11:01am
Msg #470722

Oh, I thought that the counties weren't supposed to record the DOT unless the TPL # was listed on it. I guess that is not the case, which explains a lot. Too bad they don't, I would love for these companies to get in trouble and have to get everything resigned.