Kate Sweeney Bell Recorder Marion County Recorder’s Office Housing Fund & Predictable Recording Fees Kate Sweeney Bell Recorder June 19, 2017

Recording Fees Overview Passage of SEA 505 creates predictable recording fees instead of a per-page fee structure. SEA 505 allows for City-County Council to replace per-page fee for Housing Trust Fund to flat fee per document. Also allows 100% of fee collected directed to City Housing Trust Fund. (existing fee split with 40% sent to state housing trust.) Legislative partners included: Indiana Recorders Association Indiana Surveyors Association Association of Indiana Counties Indiana Land Title Association Indiana Mortgage Bankers Association City of Indianapolis CHIP Indy June 19, 2017 Housing Trust Fund & Predictable Recording Fees

Housing Trust Fund Overview Current Housing Trust Fee is $2.50 for first page and $1.00 each additional page. Recording Charges Effective July 1, 2017: Mortgages: $57.50 first page, $1.00 each additional page All other documents: $27.50 first page, $1.00 each additional page Updated fee is $10 per document, regardless of page count. Recording Charges Effective August 1, 2017 (if ordinance approved): Mortgages: $65.00 All other documents: $35.00 Critical that Marion County Recorder be able to charge predictable fees. June 19, 2017 Housing Trust Fund & Predictable Recording Fees

Housing Trust Fund Fees Existing fee structure averages about $6.00 per document for Housing Trust Fund. June 19, 2017 Housing Trust Fund & Predictable Recording Fees