Agents for title insurance underwriter North American Title Insurance Co. (NATIC) now have free access to a service that provides guaranteed recording fee, transfer tax and filing instruction data for every residential property nationwide.
The service, DART, is offered by La Jolla, Calif.-based ClosingCorp, a closing costs data and technology provider for lenders, real estate professionals and consumers. ClosingCorp recently updated DART, which debuted in December 2011.
The service automatically determines which recording office or tax authority to use for each property by street address and generates the correct recording fees, transfer taxes and filing instructions. DART also calculates buyer and seller splits based on statutory and customary practices for every transfer tax location in the nation, the company said.
"With more than 4,000 recorder offices and tax jurisdictions and more than 80,000 related taxes, fees, customs, rules and regulations, DART gives title agents immediate access to the precise recording fee, transfer tax and recording instruction data that is so crucial for their businesses," said Emilio Fernandez, president of NATIC, in a statement.
DART is available through NATIC’s internal AgentLink platform, which provides title agents with business tools and underwriting resources, including forms.
NATIC does business in 28 states. The Miami-based company had 0.83 percent market share nationwide in the second quarter, according to the American Land Title Association (ALTA).