Posted by UKCowboy_CA on 2/17/10 11:38am
Msg #323125

Full Disclosure

The reason for my previous post; message #323014, was because a borrower made the statement that I was making $xxx.xx for closing his loan. I explained to him that I was only making a portion of that fee and the rest was going to a signing company. He questioned why he should be paying the total amount when there was no value added by going through a signing company and questioned the fact that they were not on the list of affiliate companies that were disclosed to him. The fact that the signing company was out of state when the lender and title company were both in state did not make the borrower any happier.

Reply by Les_CO on 2/18/10 9:40pm
Msg #323445

The amount he paid was the amount he paid…it has nothing to do with the amount you got.
If you were listed by name on the HUD with a ‘notary’ or “remote closing” fee of say $300, and Title paid you $100 and kept the difference it would clearly be a RESPA violation.
Otherwise…..?