Some Re-fi questions

[Dueller]

Originally posted by red-beard
http://www.tdi.state.tx.us/orders/titlerates2004.html

Premiums shall be calculated as follows for policies in excess of $100,000:

1. For policies of $100,001 - $1,000,000

Basic Premium

(1) Subtract $100,000 from policy amount.

(2) Multiply result in 1.(1) by $.00534 and

round to nearest whole dollar.

(3) Add $843 to result in 1.(2).

That's INSANE. Its $8.43/1000 on the first 100K and $5.34/1000 on the balance. For what they're doing that works out to about $600/hr. NUCKIN' FUTS

Well, all I can say id that the Title Insurance lobby has bought and paid for your legislature.

[Dueller]

Originally posted by red-beard
Title Insurance appears to be one of the most lucrative forms of Insurance on the premiums vs. payouts ratio. Of course, it is a lifetime policy.

Oh you don't even know the half of it. In the rare case where a claim is made on a TI company, they deny liability and sue the lawyer who does the closing going after his malpractice carrier. It is a major racket.

[red-beard]

Sounds like I should go into the Title Insurance business here in Texas...