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#2207677 - 03/04/19 07:32 PM Recording Fees
mdog76 Offline
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I know recording fees are subject to the 10% bucket, but are the recording fees considered unlimited if the title company is not on our shopping list?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2207679 - 03/04/19 07:42 PM Re: Recording Fees mdog76
RR Joker Offline
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No. The two don't interrelate at all.
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#2207681 - 03/04/19 07:45 PM Re: Recording Fees mdog76
mdog76 Offline
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So recording fees are kind of in their own 10% bucket so to speak?

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#2207684 - 03/04/19 07:50 PM Re: Recording Fees mdog76
raitchjay Online
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OK
They're just automatically in the 10% bucket...not their OWN 10% bucket....the borrower cannot shop for the recording fees....simple as that. But recording fees don't fall into the 0% tolerance bucket that other cannot shop for items do--because the regulation says they are 10%.
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#2207685 - 03/04/19 07:52 PM Re: Recording Fees mdog76
mdog76 Offline
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That makes sense. Thanks for the help.

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#2207686 - 03/04/19 07:55 PM Re: Recording Fees mdog76
mdog76 Offline
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Just thought of another question for this. So when it comes time to comparing the LE and CD for tolerance, do the recording fees get lumped in with the other 10% category fees or do they get compared by itself?

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#2207687 - 03/04/19 07:59 PM Re: Recording Fees mdog76
raitchjay Online
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There's only one 10% bucket. All 10% fees are in the same bucket.
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#2207688 - 03/04/19 08:18 PM Re: Recording Fees mdog76
mdog76 Offline
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That's the way I've always understood it. So if my title fees are unlimited tolerance because the customer chose a title company not on our list, the recording fees are still subject to 10% tolerance?

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#2207689 - 03/04/19 08:19 PM Re: Recording Fees mdog76
RR Joker Offline
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Agree.

Where people sometimes trip over themselves is when they quote a certain provider's estimated recording, but then the customer uses a different provider who uses a longer Deed, etc...Well, there 'big' fees are no longer a part of that 10% bucket because they are not on your shopping list, but their recording fees are higher and you didn't cover for those on your LE and suddenly you exceed tolerance.

I use the higher recording in my market for this very reason...I've had one too many tolerance issues because of the difference in recording from one provider to another smile
Last edited by RR Joker; 03/04/19 08:21 PM. Reason: Added: and suddenlyyou exceed tolerance.
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#2207802 - 03/05/19 04:22 PM Re: Recording Fees RR Joker
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OP, are you asking about government recording fees or title company 'recording fees' i.e., electronic add ons for recording a doc? Recording fees go in the recording fee box.
Title company add on 'recording fees' go in either B or C depending on if the borrower chose or not.
This was asked and answered here. with good advice from Randy.

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