T****8
发帖数: 505 | 1 I have got two quotes from two settlement companies. For lender's title
insurance for the same property, one quoted $450 and the other $1650. The rest of both quotes are similar. My question is why this huge discrepancy?
Help me out here folks. |
c*h
发帖数: 33018 | 2 I have similar question for my house too. I've paid over two thousands for
the Title Insurance. That is a lot.
co-ask. |
T****8
发帖数: 505 | 3 It's about on par of what my estimates are. One firm about 2800 and the
other about 1000 less. What puzzles me is that the premium for the lender's
insurance is only quoted as 50 bucks, and the rest are fees and so on. This
makes little sense to me. What can you buy for 50? I just don't know how to
handle these stuff. My agent and loan officers all want me to use their
settlement companies, seems like a big deal to them, that also threw me off,
since agents are not suppose to take kick backs from settlement companies,
that's illegal.
SOmeone knows about this please help.
【在 c*h 的大作中提到】
: I have similar question for my house too. I've paid over two thousands for
: the Title Insurance. That is a lot.
: co-ask.
|
h****2
发帖数: 53 | 4 rates do vary but shouldn't by such large discrepancy...
rest of both quotes are similar. My question is why this huge discrepancy?
【在 T****8 的大作中提到】
: I have got two quotes from two settlement companies. For lender's title
: insurance for the same property, one quoted $450 and the other $1650. The rest of both quotes are similar. My question is why this huge discrepancy?
: Help me out here folks.
|
T****8
发帖数: 505 | 5 That's exactly my question is. Someone told me there are different levels of
insurance, such as basic and advanced. Would this be the case here?
The one who quoted me higher rate said bank may refuse teh loan if they feel
that lender's insurance is not sufficient.
【在 h****2 的大作中提到】
: rates do vary but shouldn't by such large discrepancy...
:
: rest of both quotes are similar. My question is why this huge discrepancy?
|
h****2
发帖数: 53 | 6 i wouldn't buy that story... if they know bank won't accept, what's the
point of issuing it? lender's title is for lender (or bank)--go w/ whatever
is sufficient to get by, be it basic or advance. you don't get the benefit
. :p
of
feel
【在 T****8 的大作中提到】
: That's exactly my question is. Someone told me there are different levels of
: insurance, such as basic and advanced. Would this be the case here?
: The one who quoted me higher rate said bank may refuse teh loan if they feel
: that lender's insurance is not sufficient.
|
T****8
发帖数: 505 | 7 That totally makes sense to me. The settlement company knows they must
satisfy the bank, or they won't have any business.
I do hear story though some company actually take your money but not buying
any policy, chances are someone has problem with a title slime to none. So I
will probably just go with the cheaper one.
whatever
benefit
【在 h****2 的大作中提到】
: i wouldn't buy that story... if they know bank won't accept, what's the
: point of issuing it? lender's title is for lender (or bank)--go w/ whatever
: is sufficient to get by, be it basic or advance. you don't get the benefit
: . :p
:
: of
: feel
|
h****2
发帖数: 53 | 8 take your money but no coverage won't happen... lender won't fund your loan
w/o the policy
buying
I
【在 T****8 的大作中提到】
: That totally makes sense to me. The settlement company knows they must
: satisfy the bank, or they won't have any business.
: I do hear story though some company actually take your money but not buying
: any policy, chances are someone has problem with a title slime to none. So I
: will probably just go with the cheaper one.
:
: whatever
: benefit
|
d******n
发帖数: 2712 | 9 There are many online calculators can help quote lender's title ins. For
state, such as NJ, the ins premium is always very similar as the online
quote in refi cases. For purchase, I think the sum of lender's title ins and
owner's title ins for the same property will be similar, but the exact
premium amount of each kind of ins may be difference from title companies. |
