Fannie Mae buyer to pay title using Fannie May closing company

[Jerry R.]

Has anyone else run across this?

For the second time in the past month, I have run across an additional term on the contract for a Fannie Mae property that makes the buyer pay title.

This one states: "Fannie Mae buyer to pay title using Fannie May closing company". I assume by title it means just the title insurance. If they are going to make me pay title insurance, I should be able to close at my own title company.

These 2 properties are the first ones that I have made on Fannie Mae properties that require me to pay this cost. I am aware that taxes and doc stamps are always my responsibility. Is this typical that Fannie wants the buyer to pay title?

As far as the title company, I figure I am ok selecting my own company as the addendum supersedes the original contract. The addendum states that the buyer has the right to select the closing company, title company, etc.