This is your personal question: Do you want free or do you want to pay more to get the quality you want? Is it worth $125 out of your pocket to pay your friend to sit with you and go over your loan documents? I admire you wanting to get work for your friend.
You always have a choice of title company and loan services (and lender), the question is: Are you willing to pay more for it? As I heard, agree and routinely state: CFPB, Dodd-Frank and the new regulations are to protect the consumers. "We never said it wouldn't cost the consumers more," anonymous CFPB attorney.
Note. The title insurance company may have a contract that they pay the SS $XXX whether you use the SS or not. There is no financial incentive for the TIC to use your friend if s/he isn't on the TIC's approved list; if she is, try to get her the job at $75 and you PERSONALLY pay the difference.
From the non-NSA world, I see lots of "lender pays" where it is a PACKAGE DEAL: Borrowers wants "lender pays all" comes with lender's choice of service companies (which in CT includes the lender's choice of attorney [fixed fee contract agreement between lender and attorney, who has to be an agent of the TIC that the lender chooses]). Borrower wants to select his/her own choice of service companies: Can do, BUT Borrower pays these costs, not lender, and it is no longer the "lender pays all package deal." |
