Posted by Linda/IL on 3/17/08 2:19pm
Msg #239570

title search discount

Is it unprofessional/no-no to ask a title company you work for for a discount on title search for your own refi? My lender says they will work with what ever title company I want.

Reply by Les_CO on 3/17/08 3:47pm
Msg #239577

Most title companies are going through some lean times now, but sure it wouldn't hurt to ask for their 'employee's' discount. As you said you could direct your business elsewhere.

Reply by SShoreDude on 3/17/08 4:47pm
Msg #239584

I disagree

I would ask for the reduced refinance rates for title insurance at least. I would ask good naturedly for other reductions as well. Its lean times, they need to compete.

Reply by Linda_H/FL on 3/17/08 8:33pm
Msg #239615

The reduced refinance rate on the title insurance should

be a given provided the previous mortgagee policy was issued within the allowable time frame (some states 3 years, some states 10, others whateverit is )...OR if the borrower has had an owners' title policy issued to them (optional in some states). The only "negotiable" charges are the TC's fees...and whether to ask for that discount depends on how comfortable you are with them....when I refinanced in CT my boss (attorney) wrote the policy and did the title work and closing (ergo, I did all the work) - I had NO problem letting him know I wasn't paying him a closing fee... The guy we had doing our title searches and bringdowns gave me a discounted rate as I'd known him for about 20 years...

Reply by Linda/IL on 3/18/08 4:47pm
Msg #239722

Re: The reduced refinance rate on the title insurance should


be a given provided the previous mortgagee policy was issued within the allowable time frame (some states 3 years, some states 10, others whateverit is )...
Is this true in Illinois? I was told by another notary about a re-issue policy, my lender didn't know about it.

Reply by Linda_H/FL on 3/18/08 9:16pm
Msg #239747

You'd have to check with an IL title agent.. n/m

Reply by BrendaTx on 3/17/08 8:25pm
Msg #239610

Texas doesn't bargain on title policy rates. It's set by the state. Other title fees might be negotiated, but not much.

Reply by sue_pa on 3/17/08 9:23pm
Msg #239630

same here - and close in the agent's office during business hours and no settlement fee gets charged - we have what's called an all inclusive rate here - seldom do I see it adhered to on the settlement sheets I see coming across my desk although if borrowers were saavy enough their fees here would be next to nil - the majority of the fee comes from the insurance.

Reply by SShoreDude on 3/18/08 9:34am
Msg #239678

You guys are right,

I should have specified that it was a state specific thing,

In MA, you are entitled to the discount, but its rarely given unless the borrower requests it. When I do settlements I always give it, but not all attys do that. Title companies like .... OH, I won't mention any names, but you all know them, always charge more then the state rates set by the title companies, nevermind a discount,