In The News

RESPA Changes in Effect January 1, 2010

With the new RESPA regulations in effect as of January 1, 2010, Land Title Services and Land Closing Services have revised their pricing structures. The intention was to simplify the pricing to make it easier for customers to complete the new GFE. Please be advised that the new title pricing applies to all title commitments ordered after January 1, 2010. If you would like a copy of the pricing sheet or have any other questions regarding the changes, please email mdaly@landtitleservices.net or call 414-755-1062. These changes will present some new challenges to the industry and Land Title and Land Closing are prepared to face them.

State Recording Fees to Change Effective June 25, 2010

Governor Doyle signed SB 507 into law on May 12, 2010 legislation that changes the recording fee structure for real estate documents filed with the county register of deeds and directs the register of deeds to redact social security numbers from electronic format records that are viewable or accessible on the Internet.

Effective June 25, 2010 the cost to record a real estate document in the County Register of Deeds office will be $30 regardless of the number of pages.

Formerly, the fee was based on the number of pages and has been modified from a per page fee to a standard flat fee of $25 per document. Additionally, the legislation imposes a $5 recording fee per document to cover the costs associated with redaction of social security numbers. The recording fee reverts to $25 upon the earliest of the following 1) the Register of Deeds has successfully redacted all social security numbers from electronic format; 2) January 1, 2012, unless an extension of time is granted by DOA; or 3) January 1, 2015.