Posted by DMARTZ_IN on 2/1/06 9:01pm
Msg #93150

Indiana Signing Fee Increase

Due to the New Law in that all Signing Agents must now hold a Title Insurance Producers license we are going to increase our fee's $25.00. I think this is reasonable for the cost of holding this license and the cost of E&O Insurance from 100k to 500k to cover our backsides from possible law suites due to holding of such license. Our any of you Indiana Signing agents raising your fees.

Reply by DMARTZ_IN on 2/1/06 9:10pm
Msg #93153

Sorry about the typo. Our should be Are

Reply by Shane_OH on 2/1/06 9:18pm
Msg #93155

I moved to Columbus from Fort Wayne, and I know of 6 other signing agents in the area that will not be increasing their fees, as they've had the title producer license for the last 5 years.

Obviously the decision is entirely up to you, but you might be cutting yourself out of some business.

On a side note, I wish every state would require the title producer license, the cost of it might weed out some of the undesirables.... if you know what i mean.

Reply by Becca_FL on 2/1/06 9:22pm
Msg #93159

Re: Shane...

I have decided to get my title examiners license here in Florida. I'm trying to think outside the box and get one step ahead of the pack.

Reply by DMARTZ_IN on 2/1/06 9:23pm
Msg #93161

Shane,
Thanks for the response. I wonder if they up their insurance from what they had. It is about 1300 more a year for the amout we got.

Reply by Shane_OH on 2/1/06 9:28pm
Msg #93169

Is it required to up it to that amount? I think they only have $100k.... but I'm not sure, I'll ask tomorrow and get back with ya.