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[+] Remember this Memorial Day - Kurt deVries/FL (3 replies)
5/27/2005 4:07:09 PM (1966 views)

[-] Asking for Your Opinion on Title Companies Charging "Service" Fees - Jason Sheppard/PA (22 replies)
5/27/2005 1:20:33 PM (2146 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Kevin Ahern/CT
5/27/2005 2:30:48 PM (3085 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Robert Franco/OH
5/27/2005 2:51:26 PM (3187 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Adrienne Arsenault/NH
5/27/2005 9:38:52 PM (3102 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Shannon Blatt/VA
5/27/2005 11:20:25 PM (3081 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Lisa Ramsey/TX
5/28/2005 10:43:18 AM (2927 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Jason Sheppard/PA
5/28/2005 9:12:21 PM (2993 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Patrick Scott/IL
5/28/2005 10:19:51 PM (3071 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Kevin Ahern/CT
5/29/2005 9:02:16 AM (2998 views)

Connecticut is located in the federal Second Circuit, and as such is governed by the rulings of the U S Court of Appeals for the Second Circuit. The most recent case I have seen within this circuit that deals with RESPA and mark ups is Kruse V. Wells Fargo Home Mortgage, Inc., (No. 03-7665, 2nd Circuit, Sept. 10, 2004). It was a the subject of an excellent article on the ALTA web site dated September 14, 2004. I invite all interested parties to read it. It seems to address many of the concerns voiced here, and breaks the "legal jargon" down into English.

There appears to be a split of authority as to whether RESPA Section 8(b) applies to mark ups by settlement services for their own services. The Second Circuit seems to take the view that it does not. The Eleventh Circuit in the case of Sosa V. Chase Manhattan Corp., 348 F3rd. 979 (11 th Circuit 2003) appears to take a similar position. The courts of the Fourth, Seventh and Eighth Circuits appear to take an opposing view. There is a lack of uniformity in the interpretation and application of RESPA which makes the various appellate court rulings a prime target for review by the U S Supreme Court in order to gain uniformity throughout the Circuits. I have also been told that RESPA is undergoing reform which may deal with the problem before the courts do.

It would appear that whether RESPA Section 8(b) prohibits settlement service mark ups depends on the circuit in which these settlement companies are located and the definition of "their own services." Do their services involve a finder's fee for their efforts to link the borrower to an abstractor or signing agent for which they are entitled to payment in addition to the abstractor's or signing agent's fees? Good question. Who knows at this point? It needs further interpretation by the court or clarification in a redraft of Section 8(b). Part of the problem appears to be with the definition of "unreasonable overcharges". The Second Circuit has taken the position that the language of RESPA in vague in this respect.

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Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Shannon Blatt/VA
5/29/2005 10:37:13 PM (3032 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Kevin Ahern/CT
5/30/2005 5:58:41 AM (2908 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Kevin Ahern/CT
5/30/2005 12:25:31 PM (2912 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Scott Perry/PA
5/30/2005 9:32:44 AM (2915 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Lisa Ramsey/TX
5/30/2005 1:54:46 PM (2900 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Shannon Blatt/VA
5/30/2005 5:03:09 PM (2827 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Kevin Ahern/CT
5/30/2005 6:21:13 PM (2924 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Jason Sheppard/PA
5/31/2005 4:49:02 PM (3169 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Shannon Blatt/VA
5/31/2005 7:46:49 PM (3058 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Patrick Scott/IL
5/31/2005 10:13:06 PM (3143 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Shannon Blatt/VA
5/31/2005 11:23:55 PM (2868 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Jason Sheppard/PA
5/31/2005 11:42:51 PM (2879 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Patrick Scott/IL
6/1/2005 10:05:56 AM (2940 views)
Re: Asking for Your Opinion on Title Companies Charging "Service" Fees - Jason Sheppard/PA
5/29/2005 11:30:43 AM (3105 views)

Frontier Counties - David Bloys/TX
5/27/2005 11:22:17 AM (2694 views)

[+] Informal poll - Kim Haase/MT (21 replies)
5/27/2005 1:14:32 AM (2140 views)

[+] Assignments without recorded Deeds of Trust - Ellen Malloy/MO (10 replies)
5/26/2005 10:28:57 PM (2049 views)




[+] Urban Settlement Services LLC - christine hughes/MA (4 replies)
5/26/2005 5:00:06 PM (2415 views)

Texas abstractors-please help - Michael Frank/TX
5/26/2005 2:20:43 PM (1675 views)

[+] Am I the only one left? - David Bloys/TX (12 replies)
5/26/2005 12:30:09 PM (2069 views)

Now You Can!!! - Jay Duncan/MO
5/24/2005 9:12:35 PM (2896 views)

[+] Son's Surgery - For Those Who Wanted Me to Keep Them Informed - Lisa Ramsey/TX (6 replies)
5/23/2005 8:11:11 PM (2094 views)

[+] To My Fellow SOT Members - Scott Perry/PA (2 replies)
5/23/2005 7:46:49 PM (2086 views)

[+] Job change - Deborah Manion/VA (8 replies)
5/23/2005 11:38:13 AM (2185 views)

[+] Criminal Searches? - Tammy Harkay/OH (15 replies)
5/23/2005 11:03:20 AM (2173 views)

[+] Career as Title Examiner/Searcher in NJ - Ray Miller/NJ (6 replies)
5/22/2005 7:25:15 PM (2086 views)

[+] Scanner - Judy Nisonger/CA (10 replies)
5/21/2005 6:09:51 PM (2085 views)


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