Did You Pay Thousands in Mortgage Taxes You May Not Have Owed?
If you purchased or refinanced a home through a Federal Credit Union, you may have a potential claim for a refund of mortgage recording taxes you paid at closing.
We are investigating whether homeowners in New York, Florida, and Virginia were improperly charged mortgage recording taxes in connection with Federal Credit Union loans.
Find out more about the investigation and whether your mortgage may be relevant. There is no cost or obligation.
Why Are These Taxes Being Investigated?
Federal Credit Unions are nonprofit, member-owned financial institutions that enjoy certain exemptions from state and local taxation under federal law.
Despite these protections, some states impose mortgage recording taxes in connection with Federal Credit Union loans, with the costs typically passed along to borrowers at closing.
We are investigating whether these taxes were properly imposed and whether affected borrowers may have potential claims for refunds.
The amounts can be substantial. For example, a 1% mortgage recording tax on a $500,000 mortgage equals $5,000.
Who Should Contact Us?
We are interested in hearing from homeowners who:
- Purchased or refinanced a home in New York, Florida, or Virginia.
- Obtained their mortgage through a Federal Credit Union.
- Paid a mortgage recording tax, particularly within the past three years.
Not sure whether your mortgage fits these criteria? You are welcome to submit an inquiry.
How Can I Tell If I Paid a Mortgage Recording Tax?
The easiest place to check is the Closing Disclosure or Settlement Statement you received when you purchased or refinanced your home.
On your Closing Disclosure, look on page 2, Section E — “Taxes and Other Government Fees.”
Look for a charge labeled “Mortgage Recording Tax,” “Mortgage Tax,” or a mortgage-related amount under “Transfer Taxes.” The wording may vary depending on the state and closing agent.
You may also find this information on an itemized settlement statement provided by your title company or closing attorney.
Can’t find your closing documents or aren’t sure what you’re looking at?
No problem. You can still submit your information.
Learn More About the Investigation
If you believe you may have paid a mortgage recording tax in connection with a Federal Credit Union loan, we would like to hear from you.
Complete the short form below. We will use the information to assess whether your mortgage falls within the scope of our investigation and may contact you to request additional information.
There is no cost or obligation to submit an inquiry.
This website provides information about an investigation of potential mortgage recording tax claims. No determination has been made that any particular tax was improperly imposed or that any borrower is entitled to a refund. Submitting information does not create an attorney-client relationship or guarantee any recovery. Any potential claims would require further legal and factual evaluation.