Recording Fees on the TRID Closing Disclosure

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Question:

I have discovered that the Other Costs section of our Closing Disclosure does not list the mortgage release fee of $27 in the details, but it is included in the total amount of Taxes and Other Government Fees. I was told that it can be seen in nCompass, but doesn't pull over to the Closing Disclosure. Is the description of each fee required to be listed under the Other Costs section of the Closing Disclosure?

Answer:

Regulation Z § 1026.38(g)(1) and its official interpretation provide for all recording fees to be included on one line on the closing disclosure (the first line in section E), listing a total in the description section for deeds and for mortgages. There may be other recording costs (powers of attorney, for example), and they will only be included in the totals shown in the Borrower-Paid, Seller-paid, and Paid by Others column, depending on who pays the costs. Nowhere on the closing disclosure are the recording costs listed in detail. No county, city, or other recording office is identified, either.

In cases where recording costs include a recording fee for something other than a deed or mortgage, the sum of the entries in the Borrower, Seller, and By Others columns as a group will be greater than the sum of the amounts shown to the right of "Deed:" and "Mortgage."

Other government taxes, including any costs based on the dollar amount of the deed or mortgage, are listed separately in detail (with name of recipient, etc.) on lines 2, 3, 4, etc. (extra lines can be added by "borrowing" lines from other sections on page 2 of the CD). Such an entry might read something like "Excise stamps to [Name] County." And of course, the amount for each of these other government taxes will be placed in the appropriate Borrower, Seller, or By Others column.