In 2009, the US District Court ruled that add-on fees on the HUD-1 closing document could be against federal law. Commissions on the HUD-1 can be a flat fee, a percentage of sales price, or a combination but should not exceed the agreed upon commission in the listing brokers listing agreement. If the fee exceeds that agreed upon amount then HUD can determine if the services provided justify the additional charges. Unjustified charges are against the Real Estate Settlement Procedures Act or RESPA and can be subject to penalties.
For Tulsa area Title and Escrow services, contact Karen Burnette of FirsTitle, 918-493-2241 or www.firstitle.com
For a Tulsa mortgage, contact Steve Currington, Currington Mortgage, 918-394-5626 or www.curringtonmortgage.com.
For all your Tulsa OK real estate needs, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.
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