Escrow Companies on REOs

[Steve L.]

So with REOs 99% of the time the sellers forces that an escrow company of their choosing is used and the escrow companies sure make me feel that way. Often I am reminded by their action (or lack of action) that they work for the bank and not me.

I just closed on a 45k house in SoCal. What is the escrow fee? $850!!! :cry: I questioned how they determined that number. Every REO transaction we charge a minimum of $850... This does not include title insurance, doc fees, traxes anything... Just the escrow fee.

I have typically been paying .2% or so as escrow fees...

Anyone noticed the same thing?