Title Insurance

14 Terms for Title Insurance Ancillary Fees These fees may not be included in the services listed above: • Wire • Courier • Carrier • Notary • Government Taxes • Reverse Mortgage • Short Sale • Real Estate Owned (REO) • Outside signing service Please visit the Consumer Financial Protection Bureau internet site at www.cfpb.gov for additional information on the Real Estate Settlement Procedures Act (RESPA) and disclosure requirements regarding these ancillary fees. Escrow Loan Fee The fee tied to the loan fee for a sale or purchase of a home. Some escrow companies require this fee. For a refinance, it is the fee paid for the escrow of a refinance transaction. Escrow Sale Fee The fee paid for the escrow process involved in a home purchase. It is not applicable to refinancing a home. Foreclosure If a homeowner can’t afford the house, he may decide to relinquish ownership and give the house to the bank that holds the mortgage Lender’s Policy When you refinance your home or take out a new mortgage, the lender seeks protection for its investment by requiring the purchase of a lender’s title insurance policy to protect against losses resulting from claims made by others against your new home. Owner’s Policy Anowner’s policyprovides assurance that the title insurance company will stand behind the owner if a covered title problem arises after the home ispurchased. It is issuedintheamountof thereal estatepurchase.