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#2274852 - 08/29/22 05:41 PM Title Service - Company listed
Dodge Offline
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Joined: Mar 2010
Posts: 268
List the company that the title fee ultimately will go to or list the company the bank (or borrower) is paying? I'm reviewing a CD each title service has a different company listed.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2274853 - 08/29/22 05:44 PM Re: Title Service - Company listed Dodge
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,392
Galveston, TX
I am not sure I understand. Give us some examples.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2274862 - 08/29/22 06:19 PM Re: Title Service - Company listed Dodge
Dodge Offline
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Joined: Mar 2010
Posts: 268
Title Company A receives one check for all services at closing. Not all the services are done by Title Company A. They will distribute the fee to the company that will or did the work after closing. We disclosed Title Company A on the Provider List.

The CD looks likes this

Title - Closing to Title Company A
Title - Closing protection letter to Title Insurance Company
Title - Erecording to erecording company
Title - Lender's Title to Title Company A
Title - Title Search to Title Company B
Title - Wire Fee to bank

Instead of all the fees going to Title Company A.

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#2274866 - 08/29/22 06:55 PM Re: Title Service - Company listed Dodge
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,392
Galveston, TX
I have never seen it done that way. - for example: Title - Wire Fee to bank

If that bank is you, then you need to place that in Section A.

How far do you want to go down this rabbit hole. Title - Courier fee to Joe Courier who drives a 52 Chevy? Of what value is any of that to the consumer. The consumer pays Title Company A for the services. You cut Title Company A the check. Who Title Company A pays, out of what they collect, is up to them.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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