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Welcome to Bite-Size Legal, where we discuss legal issues in an easy-to-understand way. I am Drew Jenkins, a licensed attorney in Georgia and Alabama. Today, we are talking about settlement fees. Before the 2008 financial crisis, "junk fees" were common in real estate transactions. These fees, like post-closing and archiving fees, were not clearly disclosed as being earned by the settlement agent. After the crash, profits decreased, leading to more transparent disclosure of fees in clean settlement statements.
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