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BankersOnline.com Forums State-Specific Compliance Issues Illinois IL Title Insurance Agent Registration Fee
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#1988882 - 01/15/15 03:24 PM IL Title Insurance Agent Registration Fee
Kim Offline
New Poster
Joined: May 2011
Posts: 2
Illinois
I understand this is an old subject, however, during a recent audit we were questioned as to if the $3 title agent registration fee should be a prepaid item for APR?

Also, we include this fee as part of the title insurance, should this be broken out as a separate line item?

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#1989058 - 01/15/15 07:07 PM Re: IL Title Insurance Agent Registration Fee Kim
cle Offline
100 Club
Joined: Jan 2004
Posts: 161
According to the Illinois Banker's association they do not think it is a PFC but we recently had an FDIC compliance exam and they believe it is a PFC. Either way the $3.00 will probably not put you outside of tolerance.

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#2037256 - 09/03/15 11:29 PM Re: IL Title Insurance Agent Registration Fee Kim
Tesla Offline
Power Poster
Joined: Nov 2003
Posts: 3,726
Thinking about this from a TRID perspective. Are you breaking this fee out and if so, are you putting this fee in the 10% bucket?
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