Closing Services Fee is All Inclusive

07/29/2011 12:48 PM | Anonymous
CFO Jeff Atwater's July 2011 edition of The Pulse reminds title insurance agents that the closing services fee listed on the settlement statement form is to include all the fees and
charges made by the agency to close and complete the transaction. 

Consumers should not be charged additional fees in addition to the amount listed as the closing or settlement services fee on the HUD-1 or other settlement statement form.

Examples of fees that should not be listed as separate line charges on the form include, but are not limited to:
  • Postage and handling
  • Notary services
  • Copies
  • Digital documents
  • Document preparation fees
  • Document storage or warehousing fees
  • Electronic conversion of documents to CD or DVD format
The full text of The Pulse can be found here

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