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[+] who is mid-atlantic?&other things - Donna Grady/NC (18 replies)
3/3/2006 1:45:56 AM (3456 views)

[+] India outsourcing article - Robert Breakell/CT (1 reply)
3/2/2006 11:41:03 AM (3281 views)

[+] Lisa's Inc. Magazine Article - David Bloys/TX (11 replies)
3/1/2006 9:03:34 PM (3585 views)

[+] CMS/ACCUDATA SEARCH - out-of -business - Patty/NJ (2 replies)
3/1/2006 12:42:07 PM (3732 views)

[+] Medicaid Liens - Robert Franco/OH (6 replies)
3/1/2006 12:23:46 PM (2487 views)




[+] My Article was Published in FortBendNow News - Lisa Ramsey/TX (4 replies)
3/1/2006 12:19:58 PM (3411 views)

Just Too Good Not to Share - Lisa Ramsey/TX
3/1/2006 12:16:57 PM (1799 views)

[+] Is the industry really threatened? This may help some of you.... - Jason Sheppard/PA (4 replies)
2/28/2006 11:10:27 PM (2114 views)

[+] Looks as though others in the industry are feeling threatened... - Jarrod Clabaugh/OH (1 reply)
2/28/2006 4:20:42 PM (3525 views)

[+] A New Low for Scammers - Jay Duncan/MO (2 replies)
2/28/2006 1:08:09 PM (2280 views)

[+] Just a thought - Kevin Ahern/CT (6 replies)
2/28/2006 11:39:18 AM (2178 views)

[+] Clear Choice Abstracts - Sandra Morton/KS (4 replies)
2/27/2006 4:07:57 PM (2495 views)

[-] A Post That Many of You Won't Like - Jason Sheppard/PA (49 replies)
2/25/2006 6:22:18 PM (3722 views)
Re: A Post That Many of You Won't Like - Scott Perry/PA
2/25/2006 7:11:26 PM (2798 views)
Re: A Post That Many of You Won't Like - James "Lin" Toney/MS
2/25/2006 7:36:11 PM (2833 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/26/2006 6:45:16 AM (3010 views)
Re: A Post That Many of You Won't Like - James "Lin" Toney/MS
2/26/2006 8:25:34 AM (2746 views)
Re: A Post That Many of You Won't Like - Loretta Reed/MD
2/26/2006 10:02:32 AM (2807 views)
Re: A Post That Many of You Won't Like - STEVE MEINECKE/VA
2/26/2006 12:50:42 PM (2794 views)

Loretta and All abstractors on SOT :
We all need to remember that padding fees is a RESPA violation and is clearly covered in section 8 of their rules. No one is supposed to increase or add fees for a charge that they did not perform. In the case of lines 1102 and 1103 of the HUD-1,(title examination& abstract fees) the fees shown are the fees that are to be paid, and RESPA sets out the fines of about $7k-$10K for each violation.RESPA states clearly that fees are paid specifically for "core" title work, which means one has to do something with regards to actual title examination in order to be able to charge a fee, not just stamp a settlement company name on the file folder! This is finally being enforced by HUD on a much larger scale now also. This is where a lot of settlement companies are making big bucks too. I know of one large company in MD that shows $300 for the title and $300 for examination also, so they charge $600 to the customer for a title that they pay $125 for!!!- I also think the title companies promote this very kind of violation for their agents to get a bigger bang out of each settlement too. Since the settlement fees, title insurance agents fees(60-80%) of the premiums isn't enough of a cut! Another BIG aspect of the RESPA rules per section 8 is that if this is occurring then liability is also apportioned respectively between each as to how much each is paid. As in the case above-the total fees charged is $600 to the customer on the HUD-1 and the company that did the title was paid $125- so the settlement company is liable for about 79% of any claim and the company that did the title would be liable for only 21% of any claim. Liability is clearly defined by RESPA. I am sure the big insurance companies that are promoting this illegal activity are just now starting to realize the implications of this advise or "turning the other way" while their agents that are involved in this whole scheme. Especially with the recent HUD fines being levied against RESPA violators, the Fountainhead Title case reported here on SOT is a good example.
Just one more reason the fees we charge should be an honest and fair fee so we too are not led to this kind price gouging that seems to be rampant with the settlement companies, lenders and real estate firms.

I have another HUD-1 that reflects total title fees paid for the case were in excess of $925 - let us not be fooled, someone is making BIG bucks off our work!! (I have copies of these HUD-1's if anyone would like to "see" the proof)

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Re: A Post That Many of You Won't Like - Loretta Reed/MD
2/26/2006 1:16:55 PM (2800 views)
Re: A Post That Many of You Won't Like - STEVE MEINECKE/VA
2/26/2006 1:25:12 PM (2900 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/27/2006 7:54:19 AM (2883 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/27/2006 9:13:53 AM (2800 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/27/2006 9:58:11 AM (2697 views)
Re: A Post That Many of You Won't Like - Robert Franco/OH
2/27/2006 10:33:25 AM (2681 views)
Re: A Post That Many of You Won't Like - Robert Franco/OH
2/27/2006 10:45:25 AM (2670 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/27/2006 10:50:39 AM (2690 views)
Re: A Post That Many of You Won't Like - Scott Perry/PA
2/27/2006 11:16:58 AM (2780 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/27/2006 11:25:47 AM (2697 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/27/2006 11:19:56 AM (2697 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/27/2006 5:31:37 PM (2633 views)
Re: A Post That Many of You Won't Like - Ellen Malloy/MO
2/27/2006 12:11:27 PM (2602 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/27/2006 12:28:09 PM (2716 views)
Re: A Post That Many of You Won't Like - George Booth/OH
2/28/2006 1:41:56 PM (2799 views)
Re: A Post That Many of You Won't Like - Robert Franco/OH
2/28/2006 1:51:42 PM (2652 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
2/28/2006 2:01:06 PM (2822 views)
Re: A Post That Many of You Won't Like - George Booth/OH
2/28/2006 2:11:36 PM (3029 views)
Re: A Post That Many of You Won't Like - Barbara Bennett/IN
2/28/2006 3:32:28 PM (2714 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/28/2006 3:42:18 PM (2635 views)
Re: A Post That Many of You Won't Like - Barbara Bennett/IN
2/28/2006 4:26:23 PM (2603 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
2/28/2006 4:38:05 PM (2563 views)
Re: A Post That Many of You Won't Like - Barbara Bennett/IN
2/28/2006 4:51:52 PM (2601 views)
Re: A Post That Many of You Won't Like - Robert Breakell/CT
2/28/2006 6:20:25 PM (2651 views)
Re: A Post That Many of You Won't Like - Lisa Ramsey/TX
2/28/2006 6:26:00 PM (2506 views)
Re: A Post That Many of You Won't Like - Barbara Bennett/IN
2/28/2006 7:19:46 PM (2375 views)
Re: A Post That Many of You Won't Like - George Booth/OH
2/28/2006 6:45:22 PM (2622 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
3/1/2006 7:16:08 AM (2465 views)
Re: A Post That Many of You Won't Like - Robert Franco/OH
3/1/2006 10:46:02 AM (2398 views)
Re: A Post That Many of You Won't Like - Ellen Malloy/MO
3/1/2006 9:50:23 AM (2324 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
3/1/2006 11:07:03 AM (2315 views)
Re: A Post That Many of You Won't Like - J Nisonger/CA
3/4/2006 5:56:33 PM (2332 views)
Re: A Post That Many of You Won't Like - George Booth/OH
3/7/2006 11:43:56 AM (2398 views)
Re: A Post That Many of You Won't Like - J Nisonger/CA
3/7/2006 12:27:51 PM (2379 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
3/7/2006 1:27:23 PM (2347 views)
Re: A Post That Many of You Won't Like - J Nisonger/CA
3/7/2006 6:25:07 PM (2215 views)
Re: A Post That Many of You Won't Like - Scott Perry/PA
3/7/2006 7:57:51 PM (2270 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
3/7/2006 11:00:40 PM (2468 views)
Re: A Post That Many of You Won't Like - Scott Perry/PA
3/7/2006 11:34:02 PM (2174 views)
Re: A Post That Many of You Won't Like - Robert Franco/OH
3/8/2006 11:18:12 AM (2259 views)
Re: A Post That Many of You Won't Like - Jason Sheppard/PA
3/8/2006 12:16:45 PM (2192 views)
Re: A Post That Many of You Won't Like - Kevin Ahern/CT
3/8/2006 12:38:28 PM (2345 views)
Re: A Post That Many of You Won't Like - George Booth/OH
3/9/2006 7:49:05 PM (2229 views)

[+] DOES ANYONE KNOW ABSTRACT, USA - Angelica Schneider/IN (4 replies)
2/24/2006 7:38:33 PM (2284 views)

NE REAL ESTATE SERVICES - Paul Hughes/RI
2/24/2006 5:06:01 PM (1784 views)


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