Explaining Variation in Title Charges: A Study of Five Metropolitan Residential Real Estate Markets

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• 作者：Robert M. Feinberg (1)
  Daniel Kuehn (1) (2)
  Signe-Mary McKernan (2)
  Doug Wissoker (2)
  Sisi Zhang (3)
  
  1. Department of Economics ; American University ; 4400 Massachusetts Avenue ; Washington DC ; NW ; 20016 ; USA
  2. The Urban Institute ; 2100 M Street ; Washington DC ; NW ; 20037 ; USA
  3. Shanghai University of Finance and Economics ; 777 Guoding Road ; Shanghai ; 200433 ; China
  
• 关键词：Title insurance ; Real estate settlement ; Housing
• 刊名：Review of Industrial Organization
• 出版年：2015
• 出版时间：March 2015
• 年：2015
• 卷：46
• 期：2
• 页码：145-167
• 全文大小：197 KB
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• 刊物类别：Business and Economics
• 刊物主题：Economics
  Industrial Organization
  Microeconomics
  
• 出版者：Springer Netherlands
• ISSN：1573-7160

文摘

Title charges are costs that are related to establishing and insuring title in a real estate transaction. These charges vary considerably and include title insurance premiums and other fees involved in closing a mortgage loan. This study analyzes the variation in title charges using data from almost 3,000 FHA-insured, 30-year fixed-rate home purchase loans in five metropolitan areas. Even after controlling for cost-related and other characteristics, more than one-half of the variation in title charges remains unexplained in four of the five markets. Substantial differences in charges between settlement agents suggest that consumers would benefit by shopping for settlement services.