We want to notify you that an increase in escrow rates has been filed with the Idaho Department of Insurance as of April 16th. This increase will effect most transactions that close in Ada, Boise, Canyon, or Owyhee Counties regardless of the closing agent. The minimum and negotiable rates will remain the same at $150 and $680 respectively, but the new calculated rate will be $3 per 1000 + $150 resulting in a $105 increase on applicable files.
Since Idaho is a “regulated rate” State, this may be considered a “changed circumstance” with regard to GFE disclosure. You may wish to redisclose with the new fees for transactions that will close on, or after the 16th of April. Please call your Alliance escrow team for any clarification or questions that you might have.