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Pennsylvania Title Insurance Rate Changes

May 2, 2012 By Leave a Comment

  Pennsylvania Title Insurance Rates have been updated by TIRBOP. The old PA Title Insurance Rate Manual is as good as history. All of the refinance rates and reissue rates have been replaced by a more simple PA Title Insurance Rate Chart.   For more information - PA Title Insurance Rates   … [Read more...]

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Providing Title Insurance after a “no consideration” deed

April 23, 2012 By Leave a Comment
Quit Claim Deed

In this post we will discuss a type of quit claim deed the “no consideration” deed. There is cause for concern whenever such a deed pops up in the chain and many a client just does not understand what the issues is. When we encounter a deed in the chain of title to a property for which the grantee did not pay for his interest, our fear is that there may be fraud or forgery involved in the transfer of title. Remember on our side of the transaction it is our job to be skeptical.  Often, the deed may appear to transfer title from … [Read more...]

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Marital Signature Requirements

February 26, 2012 By Leave a Comment
Marital Signature Requirements

We constantly get questions on whether or not a non titled spouse needs to sign on the mortgage documents so figured its the perfect topic for a post.  This post can now be a reference for all you multi-state lenders.  First off some general rules; if both husband and wife appear on title, both must sign documents (mortgage, rescission and TIL); If only one spouse is on title to property being mortgaged, the following applies: (i) If the state is a community property state (property is owned in common by husband and wife), … [Read more...]

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Mechanic’s Lien Refresher

February 9, 2012 By Leave a Comment
Mechanic's Lien Coverage

Anytime you are purchasing new construction or a newly rehabbed home or representing someone that is doing such, mechanic's lien coverage should be part and parcel to the conversation regarding Title Insurance.  The issue becomes making sure the Title Company is equipped with the proper waivers, affidavits and documentation in order to supply such coverage.  Verifying such issues early in the process is vital. Issuing Title Insurance against mechanic's liens is a massive  source of claims in the title insurance industry.  This … [Read more...]

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Getting Escrow Funds Released From Settlement

December 13, 2011 By Leave a Comment
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Yesterday on NJ.com the following article appeared and figured it would be wise to add a few points to it. Getting Escrow Funds Released is no easy deed Sales contracts generally require the seller to convey a marketable title to the purchaser. Moreover a lender will generally require the title to the property securing the loan to be marketable. Sometimes a sales contract will require the seller to convey title in which a reputable title insurance company will insure. There are several reasons why a seller or a purchaser … [Read more...]

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Shop for Title Services!

December 13, 2011 By Leave a Comment
mortgage_application

Just read the following article on Fox News and we couldn't agree more.  We always preach to make sure you shop for the best title insurance quote.  Quotes can change given where you are located but in many states settlement fees can vary by well over $1,000 per title company.  It is vital to shop early in the process as to not upset the parties involved but at the same time understand you should not be at the mercy of your realtor  or banker.  As the consumer you control whom the title insurance company is it is important that … [Read more...]

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Selling your Home? How to Choose a Realtor-

August 4, 2011 By Leave a Comment
Realtor

Interestingly enough the founder and once CEO of ForSalebyOwner.com, Colby Sambrotto recently chose to hire a New York real estate broker due to little activity on his listing.  The decision quickly led to a closing for $150,000.00 over the original asking price.  This speaks to the power and visibility that a real estate agent can provide while listing your home for sale. Many home sellers try and do the work themselves, but 80% of FSBO's turn their listing over to a real estate agent to get their house sold. The real issue … [Read more...]

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HUD Makes Amendments to RESPA

July 14, 2011 By Leave a Comment

There were clarifying amendments made July 11th, 2011 to the Real Estate Settlement Procedures Act (RESPA) sections involving “changed circumstances” and the “GFE Comparison-Page3”.  Both amendments are very relevant to all banks and mortgage professionals out there. Changed Circumstances The provision currently addresses changed circumstances affecting closing costs and that revisions to charges on the GFE may increase for services listed on the GFE but only to the extent that the changed circumstances actually … [Read more...]

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Real Enforcement Coming? Via the CFPB

July 11, 2011 By Leave a Comment

It seems to be well known that the Consumer Financial Protection Bureau (CFPB) intends to be fully operational and hit the ground running on July 21, 2011. The CFPB revealed on April 11, 2011, that it has agreed on a Joint Statement of Principles with the National Association of Attorneys General (NAAG) to govern their interactions in enforcing the Dodd-Frank Wall Street Reform and Consumer Protection Act and CFPB regulations. In a notice published by the US Dept of Treasury the CFPB seeks comments on its plans for collecting data … [Read more...]

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Switching Real Estate Offices – What Question Every Real Estate Agent Should Ask

May 22, 2011 By Leave a Comment

People change locations and jump ship in their work places all the time. Real estate agents are no exception. It seems there are always realtors as well as bankers deciding to change locations on a whim. It happens A-Lot. I always get asked what do you think of xyz broker? Do you know them? You think I would be a good fit there? In the housing boom of 2005 – 2006 it wasn’t uncommon to be asked 3 to 4 times a week! Whether you are new to real estate or a seasoned PRO you are familiar with it. It is the inevitable change from one … [Read more...]

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