|Recording Fees – Hood County, Texas||$|
|Each Additional Page||$4.00|
|Each Party After 5||$.25|
|Two or More Riders Per Page||$8.00|
|Recording Fees – Somervell County, Texas||$|
|Each Additional Page||$4.00|
|No Mailing Address Grantee on Document||$25.00|
Other (Part H) includes items in connection with the transaction that the consumer is likely to pay or has contracted with a person other than the lender or loan originator to pay at closing and of which the lender is aware at the time of issuing the Loan Estimate. Items that disclose any premiums paid for separate insurance, warranty, guarantee, or event-coverage products not required by the lender must include the parenthetical description (optional) at the end of the label. Items listed as Other must use terminology that describes each item, and disclose them in alphabetical order. This section includes all fees and charges that do not appear in another section of the Loan Estimate, including by way of example:
- All fees and charges related to owner’s title insurance ;
- Real estate commissions;
- All fees and charges in connection with a homeowner/property owner association (get homeowner association information here);
- Fees and charges for any inspections or warranties not required by the lender;
- Attorney fees for documents not required by the lender (such as curative documents); and
- Additional payments to the seller to purchase personal property pursuant to a contract of sale.
Even though termed optional in the Loan Estimate, it is advisable for the purchaser (consumer) to request an owner’s policy of title insurance. Required lender’s title insurance coverage protects the lender (and does not protect the purchaser). Title defects or claims by others can be financially devastating to a purchaser who is uninsured. For these reasons, an owner’s policy of title insurance is the safe, sensible solution for the consumer.
|Title – Owner’s Title Insurance (optional)||$ *|
|Title – Texas Title Insurance Guaranty Fee||$3|
*See current Texas Title Insurance Basic Premium Rates here, and Example below
In most cases, a substantial title insurance premium credit can be realized when both an owner’s policy of title insurance and loan (lender’s) policy of title insurance are issued simultaneously (as provided under R-5 of the Texas Basic Manual of Title Insurance).
How are simultaneously issued owner’s policy of title insurance and loan (lender’s) policy of title insurance premiums disclosed on the Loan Estimate?
- The full Basic Premium Rate for the loan (lender’s) policy of title insurance should be disclosed as a cost to the purchaser/borrower (under either Part B or C of the form, whichever is applicable).
- The premium for the owner’s policy of title insurance, also shown as a cost to the purchaser/borrower, is calculated by taking the full Basic Premium Rate for the owner’s policy of title insurance, plus the rate for a simultaneously issued loan (lender’s) policy (usually $100), minus the full Basic Premium Rate for the loan (lender’s) policy of title insurance. The result should be reflected under Part H of the form.
Example: If the sales price is $180,000 (Basic Premium Rate = $1,318.00) and the loan amount is $162,000 (Basic Premium Rate = $1,218.00), then the loan (lender’s) policy of title insurance is disclosed as $1,218 (under Part B or C), and the premium for the owner’s policy of title insurance is disclosed as $200 ($1,318.00 + $100.00 = $1,418.00 – $1,218.00 = $200.00) under Part H of the Loan Estimate.
Our Contact Information on the Closing Disclosure
The Contact Information table on the Closing Disclosure (Form H-25) discloses the parties involved with the transaction. The Contact Information table includes information for the Lender, the Mortgage Broker, the consumer’s Real Estate Broker, the seller’s Real Estate Broker, and the Settlement Agent in a columnar format:
- The NMLS or State license ID, as applicable,
- The Contact name of an individual (and the NMLS or State license ID),
- Email, and
- Phone number.
Unused columns may be removed and columns may be added for additional parties. For example, if there are two real estate brokers representing the seller, a column may be added to identify that party and a column for a party not involved in the transaction may be deleted.
|Lender||Mortgage Broker||Real Estate Broker (B)||Real Estate Broker (S)||Settlement Agent|
|Name||Central Texas Title|
|Address||*See Closing Office Locations below|
|ST License ID||92099|
|Contact||Name of Individual Escrow Officer|
|Contact NMLS ID|
ST License ID
|Escrow Officer’s Individual License Number|
|Phone||*Telephone Number of Closing Office|
*Central Texas Title closing office locations:
Historic Granbury Square
105 E Pearl
Granbury, TX 76048
Luton Ranch Center
3902 E Hwy 377, Ste 109
Granbury, TX 76049
Historic Glen Rose Square
105 E Elm
Glen Rose, TX 76043