Regardless of the connection between Chase and FirstAm, the LO can always enter a different named Service Provider for title and escrow on the LE to the borrower. This is common as it removes the 10% tolerance obligation. Then there is no restriction on fee amounts.
There is a CA law that says if escrow is collecting more than they are paying for notary service as profit to themselves they must disclose it to the customer. I've yet to see that. But interesting isn't it? |
