Thank you Charlene for the information-this is most disturbing as it allows those unscrupulous settlement firms to add to the actual abstract fees, which is just not allowed. It also removes that same fee from being substantiated by the settlement company, so If I charge $125 to do the abstract, the roll up could add another $50 or 100 dollars to make it seem as though the abstract fee is high like that. I used to get copies of HUD-1' s from one of the notorious Maryland settlement firms where they showed additional fees for the abstract of over $500 by listing the title exam as one fee, the abstract as another and an unheard of "hand recording fee" of $100 so the total title fee could actually be over $800, when the fee paid for the title service was just $100.
The separate listing was very critical for me when involved with a claim where I was paid only a portion of the the fee shown on the HUD-turns out there is liability for taking money like that.
This is part of why I aked this, it all comes down to accountabiltiy for all for the money they receive .
Thanks again,
Steve Meinecke
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