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There are two title insurances at settlement?
On my settlement statement, there are two title charges. 1101 (from GFE #4) and 1103 (from GFE #5), $1,103 and $1,909.60 respectively. Is this normal? And I'm not getting a mortgage since I'm paying full in cash.
1101 is Title services and lender's title insurance
1103 is Owner's title insurance to Title Company
4 Answers
- Anonymous5 years ago
I suggest one to visit this site where you can get rates from different companies: http://insureforeverybody.info/index.html?src=2YAa...
RE :There are two title insurances at settlement?
On my settlement statement, there are two title charges. 1101 (from GFE #4) and 1103 (from GFE #5), $1,103 and $1,909.60 respectively. Is this normal? And I'm not getting a mortgage since I'm paying full in cash.
Update: 1101 is Title services and lender's title insurance
1103 is Owner's title insurance to Title Company
Follow 2 answers
- BobLv 66 years ago
It is normal as long as you are purchasing title insurance. Line 1101 contains the total of the fees they charged for closing, wiring funds, overnight courier, and the various types of coverage. Line 1103 is for the actual insurance premium.
Licensed Loan Officer in Ohio
Source(s): http://facc.firstam.com/ - ?Lv 76 years ago
sounds like the insurance company split the charges between two of their operating units.
