Perhaps we are trying to hard, but we are struggling with how to quote estimated title premiums on GFEs when we do not know if the client will purchase an owner's policy, but could and would owe the money at closing if they do.
This is a fairly high volume unit and the fees are programmed in a system. But what to program? What we have now doesn't work.
The premiums in many states vary depending upon whether just a lender's policy is purchased or if an owner's and lender's are purchased simultaneously. For example, in one state, if purchased simultaneously, the owner's policy is the straight price, but the lender's is discounted 70%. If no owner's policy is purchased, then the lender's is at the straight price. These are large loans and the premiums are generally thousands of dollars.
Any suggestions? How do others do this?