In New Jersey, title insurance is strictly regulated and enforced. A title company must calculate the premium according to the rates set forth by the NJ Division of Banking and Insurance. What this means is that no matter what company you decide to use, the premium should be the same. Additional pass through fees in addition to the premium may include:
- The actual Title Examination Search ($100.00)
- Tax Search ($40.00)
- Charles Jones Judgment & Patriot Name Searches ($12.00 per name)
- Filing a Notice of Settlement ($25.00)
- Closing Protection Letter ($75.00)
- Policy Endorsements (varies according to lender requirements)
- Most common Alta 8-06 & Alta 9-06 ($25.00 each “on residential”)
- Overnight carrier fees (exact)
- Simultaneous Issue when a loan policy is issued along with an Owner’s Policy (fee for the loan policy is only $25.00)
- Transaction Management Fee, which our online title software vendor charges us for data storage fees ($25.00)