Fee Sheet Help
You can download and view our new fee sheets (Purchase Fee Schedule or Refinance Title Pricing) to help calculate Line 1101 on the 2010 Hud 1 and Box 4 on the new GFE. We've combined all of our normal 1100 series fees into one amount ($595). To that you will need to calculate the title insurance premium and add them together to quite on your GFE.
For REFINANCES you will use the attached Title Insurance Rate Sheet under "Residential Standard Rates" (I will use $350,000.00 for an example).
- First you will need to find the loan amount
- Move across the column to Lender's Premium Full Rate, which here equals $995.00
- Subtract the Lender's Reissue Discount ($299.31) (which is a 30% discount) and that is the title premium
$955.00 - $299.31 --------- $695.50 (Title Premium) - Line 1101 or Box 1101 of the GFE will be:
$595.00 (all title related charges) + $696.50 (Lenders Title Premium) --------- $1291.50 (Line 1101 or Box 4)
For PURCHASES it's the same except the title premium without the discount since it will be a new policy. Let's assume a $500,000.00 sale price and a $350,000.00 loan amount.
$595.00 (all title related charges)
+ $995.00 (Standard Policy [Full Premium])
---------
$1590.00 (Line 1101 or Box 4)
Owner's Title Insurance is calculated separately on 1103 or Box 5. Therefore, you need to go to the tables and determine the Owner's amount. (I would use the Eagle Rates so you are not short on the estimate) The premium on the sales price of $500,000.00 is $2280.00. You need to add $150.00 for the simultaneous issuing of the policies. That comes to $2430.00. Take the $2430.00, subtract the lenders amount from that and you have the Owner's portion of the total premium.
$2430.00 (Owner's and Lender's total premium)
- $995.00 (Lender's portion based on the $350,000.00 loan amount)
_________
$1435.00 (Owner's Policy amount Line 1103 or Box 5)
We will have a Title Fee calculator up on our website in the future. Until then you may call us for any help with calculating the title charges.