I appreciate your response and will always keep this in mind.
We can be found on Google
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| Thank you, Lorie Rhodes Lic Title Agent KLeer Title, LLC Office: 727-674-0276 Fax : 727-674-2523 Email: lorie@kleertitle.com 2595 Tampa Rd. Ste E Palm Harbor, FL 34684 www.kleertitle.com Click the Stars to read our reviews! 
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Original Message:
Sent: 2/9/2024 11:41:00 AM
From: Donna Brady Miller
Subject: RE: Disbursing to Realtors
As with many things we encounter in life, just say "NO"!
Some reasons for saying NO include:
-Disbursing directly to an agent rather than to the broker is beyond the scope of your duties as settlement/title agent. If you pay the agent directly you may even make yourself liable for filing a 1099 for the payment to the agent because the broker isn't filing one if they don't pay the agent.
-Your E&O may not cover this activity.
-Your underwriter would probably frown on you doing this.
-It might be a RESPA violation because you are providing a thing of value (bookkeeping services) in exchange for a referral of business.
-Giving copies of your escrow checks opens you up to more fraud opportunities. I presume they get a copy of the HUD or CD, so they aren't entitled to anything more.
-etc., etc..
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Donna Brady Miller
Inter-County Abstract
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Original Message:
Sent: 02-08-2024 14:11
From: Lorie Rhodes
Subject: Disbursing to Realtors
in Regards this subject of Realtors getting paid at the table:
This has truly gotten out of hand.
The Realtors expect us to cut checks based on the disbursement authorization from their broker.
Sure, we got suckered into doing this years ago but now they want us to wire their funds to their bank account!!!
and not only that, but they also now want copies of all disbursement checks listed on the disbursement authorization.
I am very adamant that I do not scan copies of checks to email, not have the responsibility to wire the funds.
How can we take this responsibility off of us??
We can be found on Google
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| Thank you, Lorie Rhodes Lic Title Agent KLeer Title, LLC Office: 727-674-0276 Fax : 727-674-2523 Email: lorie@kleertitle.com 2595 Tampa Rd. Ste E Palm Harbor, FL 34684 www.kleertitle.com Click the Stars to read our reviews! 
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Original Message:
Sent: 2/7/2024 12:35:00 PM
From: Denise Johnson
Subject: RE: Disbursing to Realtors
I concur with Donna on both points and suggest reviewing IRC 6041 and related regulations (26 U.S. Code §6041 and 26 CFR §1.6041-1)
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Denise Johnson
General Counsel
West Michigan Realtors Title Co.
Grand Rapids MI
+1 (616) 447-3879
Original Message:
Sent: 02-06-2024 15:21
From: Donna Brady Miller
Subject: Disbursing to Realtors
Different brokers have different contractual arrangements with different agents. Since you are not a party to those contractual arrangements I believe you should only disburse to the Broker on the contract. Imagine what you would do if you were the broker and a settlement agent paid too much of the commission to an agent...you'd most likely go after the settlement agent.
RE: 1099-NEC, I agree with your underwriters. You are not required to issue a 1099 to real estate brokerages. The HUD or CD showing the payment(s) is sufficient. Ask your CPA to show you the IRS regulation that requires a settlement agent to issue a 1099 for a real estate commission. If there is such a regulation, I'm sure we'd all like to know.
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Donna Brady Miller
Inter-County Abstract
Original Message:
Sent: 02-06-2024 12:51
From: W. Luttrull
Subject: Disbursing to Realtors
We too, rely on the exact instructions from the broker. On a different issue, but related, our CPA tells us we should be issuing a 1099-NEC, on behalf of our clients paying the commission. I've talked to our underwriters' legal departments, who all disagree. Our CPA is standing by their opinion. I'm curious to know everyone's thoughts.
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W. Luttrull
President
Pioneer Abstract & Title Co. of Muskogee, Inc.
Muskogee OK
+1 (918) 683-2904
Original Message:
Sent: 04-17-2023 11:17
From: Dee Harrison
Subject: Disbursing to Realtors
Question: When closing is conducted, the Broker send a Disbursement authorization, splitting out the Commission between the office and the Agent. We are finding more Agents requesting that their portion of Commission to be made payable to an LLC they own, or a PA. How is everyone handling this, since the LLC or the PA is not the licensed Agent and has no business under the Contract?
FRAUD WARNING
***CALL our office to confirm Wire Instructions BEFORE sending any funds***
Dee Harrison
Alpha Reliable Title, Inc.
Escrow Officer
5401 S. Kirkman Road, Suite 520
Orlando, FL 32819
Office: 407-355-3300
Cell: 954-868-7406
E-Fax: 407-479-3446
Email: Dee@AlphaReliableTitle.com
Due to the overwhelming number of fraudulent cashier's checks circulating in Florida, we require that all closing funds be tendered in the form of a wire transfer.
PROTECT YOUR MONEY AGAINST WIRE FRAUD
http://www.homeclosing101.org/protect-your-money/
If I have not provided you with excellent service, please feel free to reach out to our Compliance Department via Info@AlphaReliableTitle.com