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Thursday, March 29, 2007
Wise words from First American Title on good funds.
Wise words for the English comprehension deprived title agents who don't understand the simple phrase "goods funds required".FATIC has thoughtfully expanded their explanation in an agency bulletin that says:"DO NOT DISBURSE ANY FUNDS IN ANY TRANSACTION UNLESS YOU HAVE GOOD FUNDS IN YOUR ACCOUNT. Not even just this once. Not even for your best customer. Not even if the realtor, mortgage broker,
Wednesday, March 28, 2007
query: title endorsements how to show on HUD-1
Good question. I like to disclose the endorsements on the next separate line beneath the title premium line of the HUD. Here's a typical endorsement disclosure on my HUDs.Loan Policy Endorsements 710 & 900 (short form policy 100 & 300 included) $200.00FYI - In Pennsylvania our ALTA endorsements have different numbers.Note that the endorsements are for the benefit of the lender,
incidental boundary line change requires title search
You're not going to believe this but I had TWO of these cases to examine today. How weird is that? Both cases were virtually the same.First let me explain an incidental boundary change. A boundary change is a minor subdivision in which adjoining property owners agree to exchange portions of their land.How do you do it? Hire an attorney who specializes in real estate. The attorney will: run a
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