Posted by GEN_LEE on 11/25/05 8:39pm
Msg #78674

Recording fees

I have noticed numerous companies are adding an inflated Deed recording fee to the HUD.

In WV it is $13.00 to record the Deed of Trust. I have a HUD in front of me charging $50.00

Reply by Art_MD on 11/25/05 8:57pm
Msg #78678

They may be legal, may not be. If line items says "record Deed" and the payee is the title company, then it includes a cost to do the paoerwork to send and record the deed. May send someone in person.

If it lists "record deed" and list payee as county clerk, county or something similar, they may be violating RESPA.


Art

Reply by Bonnie_FL on 11/26/05 12:05pm
Msg #78729

Whats in violation of RESPA? In NJ I worked for attorneys who always inflated the recording fees and put in a general rounded off amount, like $50 or so, since they built in their paperwork (copies, stamps, typing, etc.)

The only time we put actual recording fees were for FHA loans, they HAD to be actual costs per FHA.

A lot of times we couldn't do actual recording fees since we did not see the mortgage until the date of closing when the loan package arrived from the lender and we needed the NUMBER of pages to determine the ACTUAL recording fees. BUT our HUDs were prepared the night before so we did an estimated number. A lot of closings I do in Florida are the same way, just an estimated recording figure, not the actual figure. However some TC's put in the actual recording fees.

I also think most of our HUDs do not have a entity where the check is going anyway. It just lists rRecording fees, City/county stamps, intantigle tax, etc. with a number in the column w/no name.

If I am wrong, please correct me.

Reply by PAW_Fl on 11/26/05 3:54pm
Msg #78740

It really depends on the title company how they want to handle it. I do an awful lot of new home closings for a couple of local title companies and they always have the exact fees listed on the HUD and the disbursement checks are cut to the recording authority. Now when it come to refinances, additional seconds, HELOC's, etc. the final HUD should show the actual costs as the mortgage amount is known and the rate is easily obtained. But some title companies just don't do it until post closing.

Reply by Joe_PA on 11/26/05 1:57pm
Msg #78737

I have been requested a few time to actual go to the court house and record a deed/mortgage. They offer me a flat fee of $35.00 plus they send me a check for estimated recording fees. The cost will vary depending on type of recording, i.e. mortgage, deed etc and the total number of pages. This has never been less that $60.00 plus my fee

Reply by newlysmomva on 11/28/05 3:47pm
Msg #78947

I;'ve always had exact check for recording made out to recording clerk. If I am recording for title company I charge $50.00 and get it in separate check. You really don't want to run afoul of CRESPA and not in VA. I'm just too paranoid about it.