Insurance Today: 2008

Sunday, December 28, 2008

What about title insurance and refinancing?

SHOP SHOP SHOP SHOPGet the message?If you are in Pennsylvania and refinancing, you'll not get a better deal than our CHOOSE AND SAVE program.Most title companies use independent notaries and you'll end up paying a signing fee or closing fee of some kind. If you are in our market area, we'll come to you at no extra charge. We close 8 to 8 Monday thru Friday and 10 to 5 on Saturday.So, shop for

What about title insurance and refinancing?

good article on Mercury

LINK

good article on Mercury

LINK

Wednesday, December 24, 2008

Dead Health Insurance Leads

Spending time on asleep bloom allowance sales leads is a bad abstraction for abounding reasons. As you can imagine, if a customer does not appetite to shop for from you they apparently don’t appetite to apprehend from you on a approved basis. So not alone are you crumbling your time, but you are accomplishing the aforementioned to the consumer. Instead of authoritative this mistake, do yourself a favor and abstracted abeyant bloom leads from those that accept no adventitious of axis into a sale. By accomplishing this you will save yourself a lot of time which you can again put appear accepting in blow with consumers who may be absorbed in what you are offering.

How can you acquaint if a accumulation bloom allowance advance or approved bloom advance is dead? The best way of accomplishing this is to ask the consumer. If they acquaint you that they are affective on or accept already purchased a action you can be blow assured that the advance is dead. You can acknowledge the customer for his or her time, and acquaint them that you are consistently accessible in the approaching if annihilation comes up. Don’t be abrupt or aweless because you never apperceive what is activity to appear in the future. You don’t appetite to bake any bridges alike if you anticipate that the advance is dead.

perfect title versus insurable title

We've chatted before about automation in title searching and I think you know that I tried the First American Eagle Search/Fast Web system for awhile and decided I don't like that kind of search. I'm a hands on kinda examiner. I want a full search and all the raw data to review for myself. Anyway....Recently I recieved a call from an insured owner who we closed while using the automated search

perfect title versus insurable title

Tuesday, December 23, 2008

using a power of attorney to convey

If you intend to sell real estate using a Power of Attorney, here are a few tips:Provide a legble copy to the buyer's title agent or attorney for review prior to closing.Be prepared to give the ORIGINAL power of attorney up at closing so it can be recorded prior to the deed. If you wish, you may record the document yourself, however, you must do so well in advance of the closing so that the

using a power of attorney to convey

Saturday, December 20, 2008

AIG to sell personal auto unit

American International Group Inc. has agreed to advertise its 21st Century Allowance Group claimed auto allowance assemblage to Zurich Financial Services Group's Farmers Group Inc. subsidiary, the companies said Thursday.

Under the acceding of the agreement, Farmers is to pay AIG $1.9 billion in banknote and basic addendum for Wilmington, Del.-based 21st Century, which comprises AIG's U.S. claimed auto business. Farmers additionally will accept 21st Century's $100 actor in outstanding debt.

The transaction, which does not accommodate AIG's Private Client Group that provides allowance to high-net-worth individuals, is accountable to authoritative approval.

"We are actual admiring to ability acceding on a $2 billion transaction, abnormally in this bazaar environment," Edward Liddy, AIG's administrator and arch controlling officer, said in a statement. "In addition, we are affective advanced with discussions for several added transactions, and we abide to appraise how best to assure the connected backbone and success of all of AIG's businesses."

"This will badly transform the allowance mural by accession Farmers as the arch multiline, multichannel insurer in the United States," Robert Woudstra, CEO of Los Angeles-based Farmers Group, said in the statement.

Friday, December 19, 2008

roller coaster ride over...Fidelity purchase approved

Dec 19 (Reuters) - Fidelity National Financial Inc (FNF.N: Quote, Profile, Research, Stock Buzz) said it received approval under the Hart Scott Rodino Act for the purchase of two underwriting units from bankrupt title insurer, LandAmerica Financial Group Inc (LFGRQ.PK: Quote, Profile, Research, Stock Buzz). Read more...

roller coaster ride over...Fidelity purchase approved

money is on sale...time to buy or refi!!!

Check out our title premium calculator for Pennsylvania rates. Use our Choose and Save program and you'll get the most affordable title insurance and settlement service available in Pennsylvania.We are determined to give consumers the best in service and value. Here's our service area map. If you are buying or refinancing in our market, we'd sure like to give you a quote. Don't just follow the

money is on sale...time to buy or refi!!!

Monday, December 15, 2008

AIG CEO to quit over Goldman stake

A U.S. agent Thursday bidding affair about a pale in Goldman Sachs Group Inc. captivated by Edward Liddy, arch controlling administrator of bailed-out insurer American International Group Inc., and apprenticed him to quit.

Mr. Liddy owns shares and belted banal units in Goldman that could be account added than $3 million, according to filings at the U.S. Securities and Exchange Commission.

Goldman, a above allowance and cyberbanking firm, got a ample allotment of $90 billion in counterparty payments fabricated by AIG, a almsman of $180 billion in aborigine aid back aftermost year.

"I am acutely anxious by contempo media letters that AIG CEO Edward Liddy owns added than $3 actor of banal in Goldman Sachs, which topped the account of companies that accustomed billions of dollars in counterparty payments from AIG," said Rep. Elijah Cummings, D-Md., in a statement.

"For months, I accept been calling on Mr. Liddy to abandon from his position at the captain of AIG, and in ablaze of the fresh advice about his banal backing at Goldman, I renew that anxiety today," Rep. Cummings added.

Mr. Liddy's backing were aboriginal appear by The Washington Examiner.

Rep. Cummings said: "Regardless of whether or not Mr. Liddy is acting in the best absorption of AIG or of his banal in Goldman, alike the actualization of battle of absorption is a acumen for alarm."

An AIG backer said Mr. Liddy endemic Goldman Sachs shares afore he abutting the Goldman lath and that, back he joined, he chose to booty his advantage in belted stock. Mr. Liddy accommodated from the Goldman lath in September 2008.

"He will accept his belted banal in the anatomy of common, complete shares in May of 2009," she said, abacus that Mr. Liddy has never awash Goldman shares.

She said Mr. Liddy "was not complex in discussions with counterparties, including Goldman Sachs, accompanying to the acquirement of collateralized debt obligations or the abortion of accompanying acclaim absence swaps. Mr. Liddy is assuming his duties with AIG as accessible account for $1 per year."

The centralized babysitter for the Treasury Department's banking accomplishment affairs is analytical billions of dollars in counterparty payments from AIG to above banks.

AIG appear on March 15 it had paid added than $90 billion to Goldman and added banks, abounding based in Europe.

Friday, December 12, 2008

AIG Crisis Could Affect Annuities

Gavin Magor abutting TheStreet.com Ratings in 2008, and is the chief analyst amenable for allotment banking backbone ratings to bloom insurers and acknowledging added bloom care-related customer products, including Medicare supplement insurance, abiding affliction allowance and ancient affliction information. He conducts industry assay in these areas. He has added than 20 years' all-embracing acquaintance in acclaim accident management, bartering lending and analysis, alive in the U.K., Sweden, Mexico, Brazil and the U.S. He holds a master's bulk in business administering from The Open University in the U.K.

TSC Ratings provides absolute stock, ETF and alternate armamentarium ratings and annotation based on award-winning, proprietary tools. Its "safety first" access to advance aims to abate accident while gluttonous solid outperformance on a absolute acknowledgment basis.

As American All-embracing Group (AIG:NYSE) fights to axis billions of dollars in losses and survive the affliction bread-and-butter abatement back the Great Depression, investors should anticipate adamantine afore affairs the allowance company's annuities.

The government, examination AIG as too important to fail, has committed added than $200 billion to prop up the ailing company, which absent a almanac $61.7 billion in the fourth quarter. AIG has formed adamantine to assure afraid consumers, reminding them that its allowance subsidiaries are "well capitalized." The National Association of Allowance Commissioners alike offers a ability folio on its Web armpit to let consumers apperceive that AIG annuities are safe, alike if the aggregation becomes insolvent.

AIG annuities, allowance behavior that serve as advance vehicles, ability assume like a safe abode to bundle money until retirement, but the aggregation is decumbent to alternation this year and investors ability appetite to accede added options. While its allowance units are capitalized now, they could face problems after this year if exceptional acquirement continues to slow.

On the face of it, AIG seems like a solid company. It had added than 6 actor accomplishment affairs at anniversary accretion $131.7 billion, and action affluence of $184.6 billion to abutment them. It took in $53 billion in premiums in 2008, abiding 16% in pre-tax operating accumulation compared with the 13% boilerplate accident of its peers.

AIG kept costs beneath ascendancy and paid commissions that were 30% lower than average. Among its band holdings, 5.9% were clutter status, compared with to 6.4% for the industry.

Annuity sales rose during the aboriginal bisected of 2008. That bound afflicted during the additional half, back abounding policyholders cashed in their affairs fearing the aggregation ability collapse. AIG concluded the year with a 2.7% abandonment rate, up 42% from 2007 and added than bifold the 1.1% boilerplate for the market.

AIG maintains its basic and surplus positions by accession premiums. If the aggregation loses added policyholders or fails to allure fresh investors, it could face problems. This year has been so airy that AIG apparently absent added policyholders.

AIG's activity allowance units took in $53 billion in premiums and absent $24 billion. The losses far beat the group's $15 billion in net basic and surplus. In contrast, Hartford Banking Services(HIG:NYSE) absent $4.5 billion and kept $6 billion in capital, and MetLife (MET:NYSE) absent $632 actor and took in $18 billion.

The Treasury Department said aftermost anniversary it would extend bailout funds to activity allowance companies. The government stands abaft AIG, but it ability accede affairs its units to accumulate the aggregation activity and assure policyholders. However, the government ability attempt to acquisition an buyer who doesn't appetite to change policyholders' arrangement terms. At the least, barter ability accept to assignment with a fresh company.

It's important to shop for annuities alone from financially complete companies. If the aggregation fails while you're advantageous into your annuity, you will accept the bulk of the account. However, if the close becomes bankrupt while you're accession assets from your policy, you'll accept alone what's covered by agreement associations, an bulk that varies by state.

TheStreet.com Ratings, afresh cited for Best Banal Selection from October 2007 through February 2009 , is an absolute assay provider that combines axiological and abstruse assay to action investors amazing bulk in airy times.

Wednesday, December 10, 2008

query: HUD-1 signing requirements on Sheriff's sale

In my neck of the woods, the Sheriff does not sign a HUD-1. Most purchases at Sheriff's sale are for cash so there is no HUD-1. If the buyers are getting a mortgage, there will be a HUD-1 prepared, however all costs will be on the buyer side. The buyer needs to discuss this with their lender up front so the lender has had an opportunity to think through the issues. When we do this kind of

query: HUD-1 signing requirements on Sheriff's sale

Insurance reform bill tackles systemic risk

MOMENTUM CONTINUES TO BUILD for some anatomy of federal allowance regulation, and that absolutely is a acceptable thing.

As we address on folio 1, Reps. Melissa Bean, D-Ill., and Ed Royce, R-Calif., accept alien a new—and, we believe, improved—version of the allowance authoritative ameliorate bill they alien in the aftermost Congress. That bill would accept accustomed insurers and producers to accept whether they would be adapted by accompaniment or federal authorities.

We say the National Allowance Consumer Protection Act is an advance because it takes into annual allotment of the acumen for the bread-and-butter agitation of the accomplished few months by removing the aspect of best for insurers accounted to be systemically important. Those insurers would be federally regulated, period.

And that's the way it should be. Anybody knows what happened to American International Group Inc. back authoritative blank bootless and, what Federal Chairman Ben Bernanke so memorably declared as a barrier armamentarium aloft of an insurer, about destroyed the basal allowance company. Such a bearings can never be accustomed to appear again.

By agreement some—and allowance are not actual many—insurance companies beneath a federal regulator who would alike with a abstracted systemic accident regulator, the affairs of addition AIG-type near-collapse should be abundantly diminished. That's a ambition anybody should support, and we accept a well-crafted federal authoritative anatomy is the best way to accomplish that.

Monday, December 8, 2008

had an interesting call today from a lady who didn't know where else to turn....

She was the executrix of an estate and had sold real estate in 2005 to a buyer who used a now closed title agent. Follow?Anyway, I recognized the name of the agency as one of the regional multi-ABA machines. You know the kind - one address - and fifteen million so-called title agencies under one roof?So, she has to file a revised inheritance tax return for reasons unrelated to the real estate

had an interesting call today from a lady who didn't know where else to turn....

Sunday, December 7, 2008

The End of Private Health Insurance

Above every added health-care goal, Democrats this year appetite to convention a "public option" -- an allowance affairs financed by taxpayers, managed by government and accessible to everyone, abundant like Medicare. This fresh common alms is the best important agitation in Congress this year, because it absolutely is the aftermost angle for annihilation akin clandestine bloom insurance.

This accessible advantage will allegedly "compete" with clandestine alternatives. As President Obama brand to put it, those who are blessed with the allowance they acquire now can accumulate it -- and if they appear to adopt the government offering, well, gee whiz, that's the chargeless bazaar at work. The absoluteness is far different. Not abandoned will the fresh affairs become the absence advantage for the uninsured, but Democrats intend to bold the arrangement to accelerate -- or if allegation be, beset -- an departure to government from clandestine insurance. Soon enough, that will be the abandoned "option" left.

A accessible affairs won't attempt in a way that any accustomed business would recognize. As an entitlement, Congress's conception will get pleasure potentially absolute admission to the Treasury, after incurring the risks or ambiguity adjoin losses that clandestine carriers do. As bodies approach to "free" or heavily subsidized care, the accordingly atomic costs will be covered in allotment with added outlays to accumulate premiums artificially low or alike action added benefits. Lacking such aborigine cash, clandestine allowance ante will escalate.

Much like Medicare, all-embracing spending in the accessible advantage will be controlled over time by advantageous beneath for medical services, drugs and technology. With its monopsony purchasing power, below-market fees will be dictated on a take-it-or-leave-it base -- an action hospitals and physicians won't be able to refuse. Medicare's accepted agreement behavior pay hospitals abandoned 71% of clandestine rates, and doctors 81%, according to the Lewin Group.

In a contempo analysis, Lewin estimates that acceptance in the accessible advantage will adeptness 131 actor bodies if it is accessible to anybody and pays Medicare rates. Absolutely 119 actor bodies will about-face out of -- or lose -- clandestine coverage. Everything depends on the acquittal levels that Congress adopts, as able-bodied as the admeasurement of the acceptable pool. But alike if a accessible advantage accessible to all takes the awful doubtful footfall of advantageous at some mean amid clandestine and Medicare rates, about 68 actor bodies will still be awash out of clandestine insurance. The adjacent table summarizes Lewin's agitative findings.

This accessible advantage would be the best abolitionist change in the way American bloom affliction is financed -- and appropriately provided -- in at atomic 44 years, and maybe ever. About 170 actor bodies currently acquire clandestine insurance, which is already pressured by the amount controls of Medicare and Medicaid. A cogent allotment of government underpayments are artlessly transferred to the clandestine sector, abacus tens of billions of dollars every year to customer bloom bills.

A 2006 abstraction in the annual Bloom Affairs concludes that about 17 cents of every dollar in about reductions in Medicare payments to clandestine hospitals are confused assimilate clandestine patients -- and that such cost-shifting accounts for absolutely 12.3% of the absolute access in clandestine payer prices amid 1997 and 2001.

This allotment would be far college were government acquittal ante not bound to the aged and the poor but imposed over the absolute system. This will abandoned accelerate the flight to government. Meanwhile, administration baby and ample will acquire every allurement to dump their affairs and alteration their workers to the accessible rolls. The aftereffect will accordingly be a avalanche of failures or withdrawals from the bazaar by bartering insurers, with the accessible advantage as the abandoned advantage for the diaspora.

Congress will accomplishment the job with authoritative changes. Under the advocacy of a akin arena field, all clandestine affairs will be affected to action annual bales agnate to those in the accessible option. They will additionally be appropriate to acquire all comers, behindhand of above-mentioned conditions, and additionally be affected to action agnate ante to all enrollees, catastrophe the adeptness to administer accident through underwriting. Any clandestine plan will about become a accessible annual area government decides what articles it allegation action and how abundant it can charge.

Democrats couldn't be clearer on this point. House baron Pete Stark -- who anticipation HillaryCare was too abstinent and has continued advantaged Medicare for all -- said at a contempo audition that currently "We acquire no apparatus to anon advance the clandestine area to do commitment arrangement ameliorate and abode ascent costs." But the accessible option, he added, would force clandestine insurers to "modernize," which seems to be his appellation for automated policy.

Under this model, the anniversary political warfare over Medicare acquittal behavior would be alien to what is larboard of the clandestine sector. Once government takes over the majority of U.S. health-care liabilities, it can either accommodate every annual at huge and growing cost, or it can allowance services. Bodies who allegation an MRI or hip backup or whatever will face cat-and-mouse lines. Medical addition will be at the benevolence of the amount controls hashed out in Washington.

Proponents of a accessible advantage point to the Federal Employees Bloom Allowances Affairs to abolish such criticism, but that affairs is offered abandoned to a detached population. Mr. Obama's angle would be accessible to anybody and necessitate a huge abiding access in government spending as a allotment of the economy. Medicare and Medicaid abandoned annual for 4% of GDP today and will acceleration to 9% by 2035, according to the Congressional Budget Office. CBO estimates that alone and accumulated assets tax ante would acquire to acceleration by about 90% to accounts the projected access in spending through 2050 -- after the fresh common entitlement.

Proponents will say we are exaggerating, but the after-effects we call are assured back government bulldozes into a market. Democrats appetite to advertise their "public option" as a bashful and affordable ameliorate that won't affect anyone's clandestine insurance. It isn't true. Republicans, abnormally those in the Senate who appetite to cut a accord on bloom care, should accept that a accessible advantage is the alpha of the end of clandestine bloom insurance.

Friday, December 5, 2008

About Insurance.

Put basically, allowance enables those who ache a blow or blow to be compensated for the furnishings of their misfortune. The payments appear from a armamentarium of money contributed by all the holders of alone allowance policies. In added words, alone risks are affiliated and shared, with anniversary policyholder authoritative a addition to the accepted fund.

The addition is accepted as the premium. Premiums are paid to insurers - these are institutions which accrue the money into the armamentarium from which claims are paid. The blow is in actuality paid for by the policyholder authoritative the affirmation and by all the added policyholders who accept not suffered in the aforementioned way.

Insurers are able blow takers. They apperceive the anticipation of altered types of blow happening. They can account the premiums bare to actualize a armamentarium ample abundant to awning acceptable blow payments. Clearly, alone a admeasurement of policyholders will crave advantage from the armamentarium at any one time.

So two important factors appear back artful the premium. Firstly, the accepted likelihood that a blow will occur. Secondly, whether the accurate policyholder is aloft or beneath boilerplate in risk.

Take three examples. In motor allowance a adolescent being with a aerial powered car, or a disciplinarian with a continued history of accidents will pay a college exceptional than a complete and accomplished disciplinarian with a bashful alehouse who has been blow free.

Similarly, the buyer of a angle and dent boutique will pay a college exceptional for his blaze allowance than, say, the buyer of an office. The blow is greater, so the exceptional is higher.

Someone who is young, fit and in a certain job will acquisition it easier to shop for activity insurance, and will pay lower premiums than addition who has a affection action or is in a chancy occupation.

Two kinds of Insurance

There are two different kinds of insurance - life insurance and general insurance. With life insurance you don't renew your policy each year. Instead, you agree to pay a fixed premium for a set number of years. In other words you enter a long-term commitment when you buy a life insurance policy.

What is the Difference?

General insurance pays out:
if a car has an accident or is stolen;
if a house catches fire or is burgled;
if a holiday has to be cancelled;
if someone is careless and damages other people's property.

Most life policies, on the other hand, pay out when an event happens;
when someone dies;
when someone survives beyond a specific date.

Anyone can buy life insurance but, of course, the premium will depend on your age, your health, and your occupation.
Husbands and wives can insure each other's lives. However, you cannot insure the lives of other people unless you have a financial involvement in their life. This principle of insurance is called "insurable interest".

Insurable Interest

Insurable interest is a fundamental principle of insurance. It means that the person wishing to take out insurance must be legally entitled to insure the article, or the event, or the life. In other words, the happening of the event insured against, or the death of the life insured must cause the policyholder financial loss. Mr Smith would not be able to insure Mr Brown's house because its destruction would not cause Mr Smith financial loss. Similarly, you cannot insure the lives of other people unless you have a financial interest in the life being insured. The principle of insurable interest demonstrates the difference between insurance and a wager or bet.

General Principles

Other principles apply to all kinds of insurance.
Insurance can provide compensation only for the actual value of property. It cannot cover the loss of sentimental value, for example.
There must be a large number of similar risks so that the likelihood of a claim can be spread among other policyholders. It must be possible for insurers to calculate the chance of loss so that a premium can be set which matches the risk.
Losses must not be deliberate and not inevitable. Clearly, you could not buy fire insurance for a house which was already burning nor life insurance for someone on his or her deathbed.
Lastly, there are some risks which have financial implications so vast that they can be dealt with only by the state. These risks (mainly those arising from war or the major escape of nuclear or radioactive material) are normally not insurable.
Insurance takes the risk away from people's lives and businesses. It brings peace of mind to the policyholder. In return for paying premiums the policyholder knows that, if the unexpected happens, financial compensation will be available from the fund of premiums.

query: has title insurance ever paid off on an easement dispute

Easements are one of the most common exceptions to coverage - UNLESS - you see the words "together with" in the legal description. If you see "together with" or some other language citing the easement in the legal description in the policy, then the insurer has INSURED that you have rights to the easement. If the only reference to the easement is found in exceptions, it likely is not

query: has title insurance ever paid off on an easement dispute

okay, title folks, what do YOU think about this one...

Earlier this year we insured a purchase of property in a REO transaction. The county tax claim bureau sent a tax certificate to the Sheriff's office but the Sheriff forgot to pay the taxes out of the proceeds. Our abstractor noticed this and discussed it with the Sheriff's folks and they said sorry but the lenderr who bought back the property at the sale took it subject to the delinquent

okay, title folks, what do YOU think about this one...

Wednesday, December 3, 2008

Inurance Benefit

Insurance Benefits encompass the facilities associated with buying of insurances. Insurance is mainly a instrument used by consumers for hedging the future contingent risks related with life, health and non-life general issues. Insurance benefits help the policy holder or beneficiary in combating with the losses or hazards associated with him/her.

The policy holder buys the insurance to hedge against the future perceived losses by paying a regular amount to he insurance company known as the Premium. Insurance companies ensure financial reimbursement of the insured losses to the policy holders or his/her beneficiary. This is the most coveted Insurance Benefits.

But with time, more and more insurance companies have cropped up and consequently the competition among them has increased. Every company is trying to woo all the customers into its fold and in a way offering more and more innovative Insurance Benefits to the consumers.

Affordability of Insurance
The foremost insurance benefit in todays world is the low insurance rate and premium one has to pay. While choosing a insurance policy, every customer looks at this rate first and then to the other associated benefits. The lesser the insurance rate, the more affordable the insurance becomes. Thus, among all the insurance benefits, low insurance rate and premium is the most coveted one.
Accessibility Of Insurance
The easy accessibility of a insurance is the next most coveted Insurance Benefits that the customers look for. The online access to insurance companies and their policies has made them more lucrative to the customers. Now-a-days, customers can search, compare and select their insurance coverage through the click of a mouse from their own residence. This has been observed that through online services, the insurance companies have been able to reach more number of customers and consequently their customer base has also mopped up significantly.
Some of the other Insurance Benefits are :-
- Basic benefits of the insurance policy. That is, the person enrolling for the policy is entitled to receive the financial compensation in case of actual occurrence of the loss/hazard/damage.
- Optional Insurance Benefits are also given by the companies to their policy holders in order to entice them to access their insurance package. These optional benefits include
  - health and dental insurance of the family, life insurance of the spouse and the child,
  - accidental death policy for the policy holder in addition to the actual insurance for which he/she has enrolled for,
  - long term and short term insurance plans against disability of the policy holder
  - unit linked insurance schemes meant for appreciation of the accumulated capital during the life span of the same, managed by an experienced and well-learned fund manager
- Pre-tax insurance benefits
  These benefits are an added advantage to the insurance holders because they help them in saving a large portion of their tax payment. When the tax-payment gets curtailed then consequently their disposable income increases leading to more enjoyment out of a secured life.

Tuesday, December 2, 2008

What is Insurance ?

Insurance in its basal anatomy is authentic as “ A arrangement amid two parties whereby one affair alleged insurer undertakes in barter for a anchored sum alleged premiums, to pay the added affair alleged insured a anchored bulk of money on the accident of a assertive event."

In simple agreement it is a arrangement amid the being who buys Insurance and an Insurance aggregation who awash the Policy. By entering into arrangement the Insurance aggregation agrees to pay the Policy holder or his ancestors associates a agreed sum of money in case of any adverse accident for a agreed anchored sum payable which is in accustomed appellation alleged Insurance Premiums.

Insurance is basically a aegis adjoin a banking accident which can appear on the accident of an abrupt event. Insurance companies aggregate premiums to accommodate for this protection. By advantageous a actual baby sum of money a being can aegis himself and his ancestors financially from an adverse event.

For Example if a being buys a Life Insurance Policy by advantageous a exceptional to the Insurance aggregation , the ancestors associates of insured being accept a anchored advantage in case of any adverse accident like death.

There are altered kinds of Insurance Products accessible such as Life Insurance , Vehicle Insurance, Home Insurance, Travel Insurance, Health or Mediclaim Insurance etc.

To apperceive added about altered blazon of Insurance Products amuse appointment our folio Learn Insurance.

Monday, December 1, 2008

Privacy Policy

The privacy of our visitors to this blog is important to us.
At this blog, we recognize that privacy of your personal information is important. Here is information on what types of personal information we receive and collect when you use visit this blog, and how we safeguard your information. We never sell your personal information to third parties.

Log Files
As with most other websites, we collect and use the data contained in log files. The information in the log files include your IP (internet protocol) address, your ISP (internet service provider, such as AOL or Shaw Cable), the browser you used to visit our site (such as Internet Explorer, Firefox or Google Chrome), the time you visited our blog and which pages you visited throughout our blog.

Cookies and Web Beacons
We do use cookies to store information, such as your personal preferences when you visit our blog. This could include only showing you a popup once in your visit, or the ability to login to some of our features, such as forums.

We also use third party advertisements on this blog to support our blog. Some of these advertisers may use technology such as cookies and web beacons when they advertise on our blog, which will also send these advertisers (such as Google through the Google AdSense program) information including your IP address, your ISP , the browser you used to visit our blog, and in some cases, whether you have Flash installed. This is generally used for geotargeting purposes (showing New York real estate ads to someone in New York, for example) or showing certain ads based on specific sites visited (such as showing cooking ads to someone who frequents cooking sites).

You can chose to disable or selectively turn off our cookies or third-party cookies in your browser settings, or by managing preferences in programs such as Norton Internet Security. However, this can affect how you are able to interact with our blog as well as other websites. This could include the inability to login to services or programs, such as logging into forums or accounts.
Google, as a third party vendor, uses cookies to serve ads on this website.

Google’s use of the DART cookie enables it to serve ads to our users based on their visit to our blogs and other websites on the Internet.
As a user, you may opt out of the use of the DART cookie by visiting the Google Ad and content network privacy policy.

I think we share the same goal but I have a differing view on the new RESPA rule.

ClosingCorp says:Under the Good Faith Estimate provision of the new rule, a mortgage lender can "guarantee" to its customers that the price of its designated vendors' settlement services will not increase by more than 10 percent at closing. If, however, borrowers elect to shop for their own real estate closing service providers, they have no such protection. "It should be no surprise that a

I think we share the same goal but I have a differing view on the new RESPA rule.

Wednesday, November 26, 2008

news alert on LandAm

On Monday, November 24, 2008, the Nebraska Department of Insurance filed petitions for rehabilitation for Commonwealth and Lawyers Title under the Nebraska Insurance Code. Hearings on the petitions are set for later today. The Company expects that rehabilitation orders will be entered quickly and that the rehabilitations will function as a

news alert on LandAm

good general query via e-mail

Hi, I read your blog about title insurance. It is very helpful. I have 2 questions to ask: 1. I did not buy title insurance at the purchase. can I buy it now (later)? 2. My friend bought a house, and after closing he was noticed there was an unsettled mortgage made by previous owner against the house. The title company's search did not find and report the said mortgage. If my friend did have the

good general query via e-mail

Tuesday, November 25, 2008

executive management memorandum to agents on the LandAmerica status...

To our Agent Partners:Many of our customers, particularly our customers involved in commercial transactions, have been contacting us with questions about the financial strength of LandAmerica's two major title insurance companies, Commonwealth Land Title Insurance Company and Lawyers Title Insurance Corporation.It is important to remember that while an affiliate of these underwriters, LandAmerica

executive management memorandum to agents on the LandAmerica status...

Monday, November 24, 2008

I am very happy to hear this.

The situation does not affect LandAmerica's title insurance subsidiaries, the company said. The assets of those "highly regulated companies" are "completely separate" from the 1031 exchange company, and are "more than sufficient" to meet obligations to policyholder and escrow customers.Read more....

I am very happy to hear this.

There is an eerie silence today, isn't there?

Is there hope? I have hope.Here's what I think. I think the folks at the top of Fidelity, First Am, Old Rep, and Stewart ought to consider what the failure of a major underwriter means to THEM and then do something to stop it.Insurance is all about trust and stability. If an industry shows vulnerability beyond the capabilities of the public's ability to comprehend, the industry is

There is an eerie silence today, isn't there?

Sunday, November 23, 2008

Here's a good article on the LandAmerica situation.

READ IT HERE.

Here's a good article on the LandAmerica situation.

READ IT HERE.

Saturday, November 22, 2008

plans off

Fidelity National Financial Inc. has called off its plan to acquire troubled rival LandAmerica Financial Group Inc., the companies said Friday, a development that casts doubt on LandAmerica's long-term prospects.Fidelity and LandAmerica both issued terse statements at 8 p.m. Eastern Time Friday saying Fidelity had exercised its right to back out of the deal during a due diligence period.Read more

plans off

Thursday, November 20, 2008

NAMB ------- GET OVER IT

The National Association of Mortgage Brokers (NAMB) is up in arms over the recently updated Real Estate Settlement and Procedures Act (RESPA). The U.S. Department of Housing and Urban Development’s (HUD) revision to the Good Faith Estimate (GFE), a simplified three-paged document designed to help borrowers better understand the terms and conditions of their home loan, has the NAMB President Marc

NAMB ------- GET OVER IT

foreclosure rescue - PLEASE resist the temptation to pay for this kind of help.

Here's a blurb from The Daily Mortgage Fraud News:In the following press release Illinois Attorney General Lisa Madigan today (11/18/200) announced that she has filed seven new lawsuits against so-called mortgage “rescue” companies and warned consumers about an alarming rise in these scams that prey on vulnerable homeowners on the verge of foreclosure. Madigan urged consumers to use caution when

foreclosure rescue - PLEASE resist the temptation to pay for this kind of help.

Wednesday, November 12, 2008

Here it is.

WASHINGTON - For the first time in more than 30 years, the U.S. Department of Housing and Urban Development today issued long-anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers. HUD will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standard Good Faith

Here it is.

interesting, eh?

The Obama administration is likely to try to go well beyond the new Respa rules and look more comprehensively at disclosures lenders are required to make to borrowers, said Howard Glaser, a mortgage industry consultant who served as a senior HUD official in the Clinton administration. "This won't be viewed as sufficient to restore borrower confidence in the mortgage process," Mr. Glaser said.

interesting, eh?

Sunday, November 9, 2008

On the FNF/LandAm merger...

FNF - of all the major title companies I have been watching - has done the best job of navigating rough financial seas and reorienting itself to a new way of doing business. I have continued to be impressed with CyberHomes.It's no secret that I don't like automated title examination and outsourcing but I am enough of a realist to know that much of the consuming marketplace wants these kinds of

On the FNF/LandAm merger...

Friday, November 7, 2008

FNF buys LANDAM...thanks, Tim for heads up

Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc. Announce the Signing of a Definitive Merger Agreement Jacksonville, Fla. and Richmond, VA -- (November 7, 2008) -- Fidelity National Financial, Inc. (NYSE:FNF)

FNF buys LANDAM...thanks, Tim for heads up

Wednesday, November 5, 2008

Thanks, Alicia.

She sent us this really nice note:"It was the easiest part of the entire process. Everything was handled very efficiently & professionally. Big thanks & great job to both Michelle and John."

Thanks, Alicia.

She sent us this really nice note:"It was the easiest part of the entire process. Everything was handled very efficiently & professionally. Big thanks & great job to both Michelle and John."

Tuesday, November 4, 2008

the case of the revised subdivision

This isn't a matter which has been resolved but I thought I'd mention it as an example of how things can get royally confused in a real estate title. ;)In early 1979 a developer got formal planning authority approval for and recorded a subdivision. Later that year, the developer revised the subdivision. I can't tell why. I can't tell whether the developer submitted the revision for formal

the case of the revised subdivision

Monday, November 3, 2008

your choice as a consumer

If you decide to buy title insurance, and I strongly recommend that you do, select the provider carefully.First, make certain that the title insurer is actully performing the title examination themselves and not farming it out to a computer or a vendor clerk will likely do a cursory review or no review.It is important to realize that most of the premium you pay for title insurance is for the

your choice as a consumer

Friday, October 24, 2008

final RESPA rule out in two weeks?

WASHINGTON (10/24/08)—Changes to the Real Estate Settlement Practices Act, known as RESPA, will be out within the next two weeks, according to Federal Housing Administration (FHA) Commissioner Brian Montgomery. Read more.....

final RESPA rule out in two weeks?

just filed a title claim for a customer

There was a typographical error in a deed filed in 1946 which changed the lot number. All of the deeds filed since then for this lot carried forward the mistake.A full search in our area is 60 years. This transaction was processed in 2005 and we ordered a full search from First Am. They apparently only did a 59 year search. Had they gone back for a full search, they would have pulled the

just filed a title claim for a customer

Monday, October 20, 2008

what does a possible takeover in title insurance mean for our future?

If a giant lender decides to buy a giant title insurer, then we are facing a giant bundling concept.No doubt models are changing, they have to. Fidelity - with Cyberhomes - has decided to change the point of sale by capturing the consumer before the real estate agent has a chance to.Looks like we might have a giant lender deciding to offer consumers one stop pricing - all services included

what does a possible takeover in title insurance mean for our future?

Sunday, October 19, 2008

FHA Wiki - This is a great idea.

Consumers, lenders, title agents, and real estate agents are always looking for a reliable source for FHA program info. The FHA on-line resources have really come into their own. Take a look at this Wikipedia run by FHA.gov.CLICK HERE.Here's a good one: How do I determine when the annual MIP will be cancelled?For loans closed on or after January 1, 2001, FHA's annual MIP will be automatically

FHA Wiki - This is a great idea.

Friday, October 17, 2008

being prepared for closing

Take a moment to check your identification documents. You'll need a CURRENT photo ID that has been issued by the state or federal government.I have also noticed that lenders are asking for copies of social security cards.So, take both to closing.

being prepared for closing

Thursday, October 16, 2008

Am I interpreting the tea leaves correctly?

Has First American been taken over by a large financial institution? Speak! Speak!

Am I interpreting the tea leaves correctly?

Has First American been taken over by a large financial institution? Speak! Speak!

Wednesday, October 15, 2008

query: in PA what are the procedures for signing over a house that was inherited.

Seek legal advice from a competent estate attorney. You must make certain that matters concerning the estate are properly resolved including the filing of an inheritance tax return.

query: in PA what are the procedures for signing over a house that was inherited.

Seek legal advice from a competent estate attorney. You must make certain that matters concerning the estate are properly resolved including the filing of an inheritance tax return.

Tuesday, October 14, 2008

query: what happens if you get caught with occupancy fraud

Getting caught in mortgage fraud of any kind is serious. Let's talk about occupancy and why mortgage lenders care about it. It's all about basic human needs and survival. When the chips are down and times get tough, you still need a roof over your head. People tend to protect that roof and let other investments go south.Mortgage lenders and their underwriters rate risk. They know from

query: what happens if you get caught with occupancy fraud

query: what happens if mortgage is not subordinated

Let's talk about mortgage lien priority. Mortgages tend to fall into two categories - primary and subordinate. The most common form of subordinate mortgage is the home equity loan. Most consumers have the home equity loan or HELOC as a second mortgage recorded after their main mortgage. The main mortgage is in first position. First position gives the main mortgage lender lien priority in the

query: what happens if mortgage is not subordinated

Thursday, October 9, 2008

received this nice e-mail this morning....nice way to start the day ;)

Thank you for your and your teams’ excellent work regarding my home purchase. I have completed your survey and you should be receiving it in the mail soon. Also, I really appreciate the guidance, counseling, and service provided regarding the sewer easement survey situation. I come from a military background and currently serve and attention to detail as we say, wins wars. I know this is only

received this nice e-mail this morning....nice way to start the day ;)

Wednesday, October 8, 2008

nice try, CentRealTech

EL DORADO HILLS, CA, October 08, 2008 /24-7PressRelease/ -- CentRealTech Inc. announced today that they have released an Industry White Paper which presents a compelling case for the implementation of a Web based, automation solution for the labor intensive Title Production Process used by most title companies today. The title industry is going through one of the toughest times in its history

nice try, CentRealTech

Monday, October 6, 2008

The Pittsburgh Post Gazette has it totally wrong on this one.

Here's the headline:Home buyers can now purchase title insurance directlyHere's a link to the article.First of all, any regular reader of Title Insurance Talk knows that consumers have ALWAYS been able to buy their title insurance directly. I am a pro-consumer title insurance advocate and so when I heard of the ENTITLE marketing plan, I was interested. I have been encouraging my fellow title

The Pittsburgh Post Gazette has it totally wrong on this one.

Friday, October 3, 2008

INDEPENDENT TITLE AGENTS FILE LAWSUIT AGAINST OHIO DEPARTMENT

Contact person: Robert B. Holman, Esq.OAITA(440) 232-9911SUBJECT: INDEPENDENT TITLE AGENTS FILE LAWSUIT AGAINST OHIO DEPARTMENTOF INSURANCE DIRECTOR ALLEGING FAILURE TO ADEQUATELY PROTECT OHIOHOMEOWNERSFOR IMMEDIATE RELEASEThe Ohio Association of Independent Title Agents (OAITA) (www.oaita.org) has filed a lawsuitwith the Ohio Supreme Court against Mary Jo Hudson, Director of the Ohio Department

INDEPENDENT TITLE AGENTS FILE LAWSUIT AGAINST OHIO DEPARTMENT

Wednesday, October 1, 2008

interesting reading on Housing Wire ..the inside view

“If the federal government wants to get into the asset management business, we all may as well write the check for taxpayer losses right now,” said another managing director at a distressed-loan purchasing specialist. “This business is much harder than it looks, and the issue isn’t as simple as holding to maturity or a desire to be aggressive on loan modification.”Some sources, as a result,

interesting reading on Housing Wire ..the inside view

Tuesday, September 30, 2008

query: can a copy of a deed be recorded in Pennsylvania

Yes, and depending on the reason for the recordation, you have two choices.If you wish to have a copy recorded as a stand alone instrument, you'll need to get a court certified copy. You get this from the Recorder's office in which the original deed was recorded. The Recorder of Deeds will create a copy, then stamp and seal it as a certified copy of the original document. If you are only

query: can a copy of a deed be recorded in Pennsylvania

query: title company sued for not following lenders instructions

The Closing Services Letter aka Closing Protecton Letter, commonly refered to as CPL - when issued - gives lenders additional title insurance protection over and including adherence to the lender's written instructions.Note that I put the word written in bold.If you are a mortgage lender and you want to create any kind of a legal obligation for following your instructions, first, put them in

query: title company sued for not following lenders instructions

mark to market

Correct me if I'm wrong, but memory tells me strict accounting mark to market rules came out of the S & L crisis as a solution to prevent failure due to the overstated value of assets.I don't think we should take lightly any vacation of mark to market rules. The core and substance of the Paulson Plan - namely the creation of a reverse auction system in which the Treasury acts as the buyer of last

mark to market

Friday, September 26, 2008

That video is interesting but I'm not sure I buy that

the Community Reinvestment Act is the culprit. Most of the paper written - bought and sold - in sub-prime and Alt-A was NOT originated under a CRA program.I don't claim to be a brainiac, rocket scientist or economist. I'm a street level, street trained mortgage lender and title agent. I lived through what happened at street level and had sufficient exposure to the inner workings of wholesale

That video is interesting but I'm not sure I buy that

this is interesting

I'm going, are you?

“The National Compliance Summit promises to deliver useful legal knowledge applicable to title companies’ business immediately,” said Syndie Eardly, editorial director at October Research Corporation. “This two-day seminar will provide attendees with the latest legal and regulatory information, including RESPA reform, closing scripts and required use, new enforcement and regulations, litigation

I'm going, are you?

Senator McCain...

step up to the plate and support the plan.Sarah would.

Senator McCain...

step up to the plate and support the plan.Sarah would.

Thursday, September 25, 2008

excellent

__________________________________NEWS ALERTfrom The Wall Street JournalSept. 25, 2008Congress reached an agreement in principle on a $700 billion package to bail out the financial industry, leaders from both parties said Thursday. They plan to present the deal to the White House later Thursday, hoping for a vote within days. Lawmakers said there were few hurdles remaining. "There really isn't

excellent

one of those days when I regret ever having done business with First American

I have a transaction we closed and insured through First American using their "Fast Web" title abstract program. This was before I realized what a piece of crap search product it was. This transaction closed in 2005. I had bought into the idea that FATIC would back the abstract and relieve me of the abstract liability. Gee what a deal.I am now advised that the lot number in my deed and the

one of those days when I regret ever having done business with First American

I'd like to know who did the underwriter audits.

In the following press release Acting United States Attorney Terrence Berg announced that a 45 year-old Macomb man who embezzled over $2.2 million while working as a bookkeeper for a now-defunct Michigan title company was sentenced to 37 months in federal prison on 9/18/2008. Joined in the announcement was FBI Special Agent in Charge Andrew G. Arena. Eric McAlpine was an independent contractor

I'd like to know who did the underwriter audits.

Wednesday, September 24, 2008

thank you

NEWS ALERTfrom The Wall Street JournalSept. 24, 2008Republican presidential candidate John McCain said he will "suspend" his campaign on Thursday, and asked to delay Friday night's debate against Democratic candidate Barack Obama, so he can return to Washington to deal with the financial crisis. Congress is currently considering a $700 billion bailout plan that is drawing increased scrutiny from

thank you

white papers and electronic signings

Funny you should mention this, October Research. Why have lenders been slow to adopt this technology when so many consumers use online banking and more will in the future? According to a whitepaper by First American Equity Loan Services, many lenders have said there are a number of issues that are preventing them from utilizing electronic signing of mortgage documents.I was just thinking about it

white papers and electronic signings

news heard on the street.....

Fidelity has announced a 10% pay cut for all its employees, across all brands (Fidelity, Chicago, Ticor..) for 6 months.

news heard on the street.....

Fidelity has announced a 10% pay cut for all its employees, across all brands (Fidelity, Chicago, Ticor..) for 6 months.

Why I love reading the Wine Dog...

I care about this big bail out. It’s a socialist solution to a capitalist problem. It won’t work. The solution is simple. Banks will figure it out. Re-write the loans or go under. It’s simple shit. We don’t need to be bailing out these guys and their bad decisions. We’re not bailing out the individuals who made bad decisions. Why are we bailing out businessmen who made bad decisions? Screw them.

Why I love reading the Wine Dog...

query: I cannot find my title insurance policy.

Unfortunately, that may be a problem. Hopefully, you have your HUD-1 Settlement Statement. The HUD-1 will identify the settlement agent/title agent on the first page in the top section. Start by contacting the title agent. They are the ones who issue the policy in most instances. If the title agency is no longer in business or not helpful, look on page two of the HUD-1 in the 1100 section.

query: I cannot find my title insurance policy.

Tuesday, September 23, 2008

Is it true?

I find it absolutely reprehensible that neither Senators McCain or Obama have plans to return to Washington to vote on the Paulson Plan.

Is it true?

I find it absolutely reprehensible that neither Senators McCain or Obama have plans to return to Washington to vote on the Paulson Plan.

Monday, September 22, 2008

I find it easy to ignore establishment bravado

trashing the federal bailout of credit markets and RESPA reform. You kids trashed the house. The party is over and Mommy and Daddy have to clean up your mess. If you don't like it, lump it.

I find it easy to ignore establishment bravado

trashing the federal bailout of credit markets and RESPA reform. You kids trashed the house. The party is over and Mommy and Daddy have to clean up your mess. If you don't like it, lump it.

Sunday, September 21, 2008

query: what happens once a loan goes through the underwriters

Loan application files that have moved through the underwriting department come out with status marked, denied, approved with conditions, or suspended.If your loan application has been denied, the lender must send you a notice called an ADVERSE ACTION. You can appeal the decision by providing evidence that disputes the basis of the denial. You won't get a chance to talk with the underwriter so

query: what happens once a loan goes through the underwriters

query: my name is not on house title, what happens if my husband dies

For a concern as serious as this, I suggest you consult an attorney. First, an attorney will understand the laws of your state, and secondly, everyone should have a WILL, preferably prepared by a competent estate attorney. Your concerns for all assets and children, if you have them, can be taken care of with a WILL.So, with that in mind, in PA, if your name is not on the house title and your

query: my name is not on house title, what happens if my husband dies

Saturday, September 20, 2008

they don't own the land.....didn't buy title insurance...tsk tsk tsk

How do you know your home and the land it sits on belongs to you? One Oklahoma couple was shocked when they tried to sell their home and found they didn't own the land it's built on. Dennis and Teresa Fine raised three children in their home near Peggs. After 27 years, when they tried to sell their one and only home, they found out the land it's on belongs to the state. "It was definitely a shock

they don't own the land.....didn't buy title insurance...tsk tsk tsk

Thursday, September 18, 2008

query: door to nowhere fha deck

LOL...it took me a minute to get this query. ;)Both the FHA and VA have trouble with the "door to nowhere" situation. You know what I mean. You planned to put up a deck but never did or maybe you HAD a deck, took it down and never replaced it. Basically, you have a door in a wall and nothing on the other side.Prior to closing, you'll need to fix it. Some will tell you that you've got to put

query: door to nowhere fha deck

it's about freakin time!

WSJ reports:The Dow Jones Industrial Average soared 400 points amid reports that regulators are considering a Resolution Trust-like mechanism to help banks unwind soured credit holdings and stepping up action against short sellers. New York Attorney General Andrew Cuomo said that he has starting a "wide-ranging investigation" into short selling and British regulators barred short sales of

it's about freakin time!

Wednesday, September 17, 2008

ah - what a breath of fresh air.......

Finally, let me make one more comment about the path forward before I take questions. Yesterday there was a hearing on the Hill where we heard numerous legislators assail proposed reforms to the Real Estate Settlement Procedures Act (RESPA). The unnecessary complexity of mortgages has significantly contributed to our housing crisis. We must do something to make mortgages more understandable and

ah - what a breath of fresh air.......

HUD - no show....or maybe brave when it comes to bullies

I love that our system of government ismade of checks and balances. It's such a great protection against bullies.HUD is trying very hard to pass rules which protect the consumer in a real estate transaction. They are pushing against the machine, the real estate and mortgage and title insurance establishments. The political pressure is tough because these guys give lots and lots of money to

HUD - no show....or maybe brave when it comes to bullies

Tuesday, September 16, 2008

Radical RIP

Gone, gone, gone, but not forgotten. Radical Title Talk was a labor of love and it served my venting needs well. Time to move on. I know, I know, you've heard that before - at least twice. I'm not leaving. I'm just taking one blog off my plate.

Radical RIP

Tuesday, September 9, 2008

What happens if a title company fails?

That's a really big question and it has two completely different sets of answers. Why? Well, the words title company are used interchangeably to describe two very different kinds of title companies. So, for you to fully understand the answers, you first need to understand the difference between a title agency and a title underwriter [the real title company].Title insurance is written through

What happens if a title company fails?

Monday, September 8, 2008

query via e-mail - Would the "marked up" policy have been as good as a policy without the exceptions?

Hi Diane!I found your blog in a search for title insurance info. It was much more interesting and informative than anything else that I found. I have a question that I hope you can help me with. It's actually more of a situation. We were in the process of purchasing a feed mill. We had the winning bid at an auction. Yeah! There was a commitment for title insurance before the sale and the

query via e-mail - Would the "marked up" policy have been as good as a policy without the exceptions?

Sunday, September 7, 2008

I am grateful for all the new orders we have been receiving.

Just wanted to say thank you. We appreciate your business.

I am grateful for all the new orders we have been receiving.

Just wanted to say thank you. We appreciate your business.

Saturday, September 6, 2008

wicked

Traditional title examination involves the judicial use of technology while not replacing human expertise. That said, it takes a bit of time and a bit of money and that's where we're caught in this crazy Catch 22. People want you to do all the work and pretty darn fast - almost never fast enough but if for some reason they change their mind, then they wonder WHY we processed it in the first

wicked

Thursday, September 4, 2008

lost your e-mail....so sorry!

To our reader who e-mailed me this morning with a question.....so sorry! I lost the e-mail. I intended to save it to answer later today. It's not there and so, please send it again or post it here as a comment.UPDATE: found it...glad to help.

lost your e-mail....so sorry!

Tuesday, September 2, 2008

interesting conversation going on Active Rain and...

...I'm gonna link to it here just cause Brian Brady called me a smart lady! LOL sheesh.....Why don't I follow my own advice? Last summer, I said, in this post: I often advise new borrowers to get a signed mortgage loan commitment, showing the expiration date of the lock. That "commitment" now has to be analyzed for the financial solvency of the funding/purchasing lender. I'll be practicing a

interesting conversation going on Active Rain and...

Monday, September 1, 2008

query: national title company files for bankruptcy

You've probably heard about the Mercury Companies bankruptcy. It's a big one and there are likely many creditors out of luck.Mercury was a title agent, not a title underwriter. That means that they did not underwrite the insurance, they just sold it. The title underwriters - mostly First American - will honor the title policies and are stepping in to clean up a huge HUGE mess.I am unaware of

query: national title company files for bankruptcy

query: can I get arrested at mortgage closing

Wow, that's an interesting query. Yes, I'd have to say you COULD get arrested at a mortgage closing. It's never happened at any of my closings but I've heard stories in training sessions.For instance, a title agent became suspicious that the ID presented in the closing was fraudulent. It's normal for a title agent to carefully review ID - we're trained to look for fraud. It's also normal for

query: can I get arrested at mortgage closing

Saturday, August 30, 2008

query: subdivision contractor claims

The only party who can file a claim against title insurance policy is an insured party - either lender or owner. If a subdivision contractor hasn't been paid, the contractor should seek legal advise and consider options such as filing a mechanics lien. Most mortgage lenders require a stipulation against liens before the start of construction and mechanics lien laws can be quite complicated.

query: subdivision contractor claims

moving title from one entity to another......

Read this article. There are lots of issues to consider, one of them is the impact of the transfer on your title insurance. Don't make assumptions. Contact your title company and nail the issue in writing when you transfer. It's a loose end, often forgotten.

moving title from one entity to another......

Friday, August 29, 2008

does HUD owe you a refund of MIP?

CHECK THIS LINK

does HUD owe you a refund of MIP?

CHECK THIS LINK

Thursday, August 28, 2008

query: right of first refusal versus quit claim deed

The right of first refusal is typically reserved by a seller who wishes to exercise some control over future ownership of the property. In order for clear title to pass the property must be offered to the party who retained the right of first refusal before conveying title to someone else.We usually obtain a letter from the party waiving the right of first refusal and record the letter as an

query: right of first refusal versus quit claim deed

Wednesday, August 27, 2008

query: how long is a title commitment good for

I'm not sure if it's the same all over, but in PA a title insurance commitment is good for six months.

query: how long is a title commitment good for

I'm not sure if it's the same all over, but in PA a title insurance commitment is good for six months.

Sunday, August 24, 2008

Did you know that income tax liens attach to "after acquired" property?

Yes, that's right. So unless you can pay cash for a piece of real estate, expect to have a problem getting a mortgage.I am examining title today for the purchase of a property that went through foreclosure. I saw FTL on the cover notes and at first glance assumed it was a Federal Tax Lien against the former owner. Too bad, it's not. It's filed against the buyer and there is also a PA state

Did you know that income tax liens attach to "after acquired" property?

Saturday, August 23, 2008

query: the difference between a title insurance commitment and a title abstract

The title abstract is a report containing raw data and abstractor notes based upon a search of the public records. This report is part of a thorough title examination. The title insurer will also review data from other sources and then issue a title insurance commitment.The title insurance commitment is an offer to insure the title subject to certain conditions and exceptions.

query: the difference between a title insurance commitment and a title abstract

query: if you're about to close on a home and you find out the seller has gone through bankruptcy

Anytime you here the word bankruptcy in a real estate transaction consider it a "stop, drop and roll" moment. Don't put off getting to the real status of the transaction. Never assume anything.The first thing I would do is talk with my title insurer to make certain that they are aware of the bankruptcy. A good title examiner will check the Pacer system, however, there is always the chance that

query: if you're about to close on a home and you find out the seller has gone through bankruptcy

Friday, August 22, 2008

the affiliated title agency took the deal - almost without insurance

In PA title agents aren't permitted to perform services without the issuance of title insurance. This case was interesting because the lender - a local bank doesn't require title insurance. When we get an order from them - which is rare - we always call before processing to confirm that the buyer has requested our services and that they are purchasing title insurance.What I found most

the affiliated title agency took the deal - almost without insurance

Thursday, August 21, 2008

this may not seem like alot of money but what this tells me

is how this attorney thinks............and I think his title underwriter should pay attention. Pay attention to the facts. The attorney received evidence that the letter on which he was relying was incorrect and he chose to ignore it.Read this e-mail I've just shot over to my underwriter:Closing a purchase transaction today at 4pm - issuing both loan and owner policies premium based on

this may not seem like alot of money but what this tells me

Tuesday, August 19, 2008

SUBPRIME....this is fascinating

Subprime was voted the word of the year by the American Dialect Society in recognition of the mortgage scandal and crisis that has for months enveloped housing and real estate around the country. But that umbrella term, describing cheap — often suspiciously cheap — mortgages, encompasses a whole glossary of often-colorful expressions that could be described as sub subprime. Read more....

SUBPRIME....this is fascinating

Saturday, August 16, 2008

query: seller does not have car title

Yea, I know. I'm not in the car business, BUT, as a title agent I do have to work with and around mobile home titles and let's face it, a mobile home title IS a vehicle title. So, with that in mind let me say this - loudly and clearly....IF YOU ARE INVOLVED IN THE TRANSFER OF REAL ESTATE ON WHICH THERE SITS A MOBILE HOME OR DOUBLE-WIDE OR MANUFACTURED HOME - WHATEVER YOU WANT TO CALL IT, DO

query: seller does not have car title

Thursday, August 14, 2008

this has been the week of crazy titles

I think I mentioned in a previous post the issue of a title agency not understanding that a prior mortgage was divested in foreclosure, a fact which was confirmed by attorneys for our title underwriter who rejected the request for indemnification.The poor buyer who hired the title company is caught in a trust quagmire. His title agent still insists the title is no good and he doesn't know who to

this has been the week of crazy titles

Saturday, August 9, 2008

PA transfer tax - new rules for relo & assignment of interest transactions

I just received a memorandum from one of our title underwriters. It’s important info if you are involved in purchase transactions in PA with an assignment of interest or contract. The PA Dept. of Revenue issued an amended rule on transfer tax regulations last December. The effect of that change is just now being fully digested - probably because someone was audited post closing. Yes, our Dept. of

PA transfer tax - new rules for relo & assignment of interest transactions

buyer caught up in a bankruptcy/short sale squeeze

We've been working for a homebuyer since June trying to close a purchase.He thought he did everything right BUT you can't account for "out to lunch" sellers or their "not so helpful" bankruptcy attorney. [I'm being really kind with those quotes cause these folk have made lots of grief for everyone. More appropriately I might have said, "out of touch with reality - perhaps in a drug induced haze

buyer caught up in a bankruptcy/short sale squeeze

Tuesday, August 5, 2008

illegal and racist restrictions in title

It's rare to see these old cruel restrictions in title. Normally we see them in old old deeds, but I am examining title for land in Somerset County and the deed from 2006 still has this clause:"The occupancy of the lot shall be restricted to Caucasians only."It dates back to the subdivision in 1949, but why the attorney left it stand is beyond me. These idiotic restrictions are to be ignored so

illegal and racist restrictions in title

Saturday, August 2, 2008

"national" title agent aka chop shop in my backyard

is a walking make work project. I'm sorry, that's unkind, let me rephrase.The record title agent at a local, formerly "national" - server of sub-prime predators - now local and desperate and trying real hard to take local market share - is ignorant of the most simple title issues.This company is what we traditional title agents call a chop shop. The company is run by someone with no expertise

"national" title agent aka chop shop in my backyard

tie up the loose ends of a divorce, please!

Examined title for a purchase transaction and found that the vested owners were a now divorced couple who had never dealt with the separation of the real estate. Criminy.What really kills me is that both husband and wife were represented by legal counsel AND the property had been processed through a relocation company who is represented by legal counsel.Nobody, I mean NOBODY, gave a thought to

tie up the loose ends of a divorce, please!

I'm back!!!

Thanks, Google.

I'm back!!!

Thanks, Google.

Sunday, July 27, 2008

query: what happens if you pay part of your mortgage early

This is a great query. First, let's set aside prepayment penalties because they are rare and also because they are unique. If you have a Note that includes a pre-payment penalty, read those terms carefully for any impact on partial pre-payments. Okay, now for your query.Fixed Rate Mortgages: These mortgages have a level mortgage payment going towards principal and interest. The total remains

query: what happens if you pay part of your mortgage early

Thursday, July 24, 2008

query: must escrow accounts of title companies be interest bearing in PA

The answer is no. If you have funds that will be held after closing, you can request that it be placed in a separate interest bearing account. Keep in mind that this is extra work for the title agent and there may be a service charge. Any escrow set-up in PA does carry a mandatory $25 escrow set-up fee - even non-interest bearing escrow.

query: must escrow accounts of title companies be interest bearing in PA

Monday, July 21, 2008

yes, I hear your query, title insurance companies collapse.

While I can admit that a year ago I might have taken some cruel delight in the collapse of you know who, I can't say that anymore.Why does power corrupt? Why do those who get drunk on it feel invincible and harm others? I don't know but I believe in the power of hope and the power of atonement. In that light I am hopeful that lessons learned change the horizon. There are lessons here for all

yes, I hear your query, title insurance companies collapse.

Sunday, July 20, 2008

OK...gotcha...query: what if title company didn't close a line on your property

I'm presuming you mean an open end line of credit, right? When a title insurer is paying off an open end mortgage which is a line of credit, they should request that the mortgage lender freeze the line. With evidence of a frozen line, the payoff letter is reliable. If the mortgage lender refuses to freeze the line, even with a written request of the borrower, the payoff is kinda risky. We

OK...gotcha...query: what if title company didn't close a line on your property

Thursday, July 17, 2008

We have a consumer in process who is applying for a mortgage.....

.....for an investment property. It has come to our attention that he intends to demolish the structure. He lives next door and really just wants the land to expand his yard.This is a classic case of mortgage fraud though I'm not certain that the consumer fully appreciates that that is what he is doing.The issue arose when we attempted to get results of a mandatory municipal sewage test. The

We have a consumer in process who is applying for a mortgage.....

Tuesday, July 15, 2008

query: title insurance for PA tax lien sales

A normal title insurance policy will cover valid PA sales tax liens that are due and payable on or before the date of the issuance of the policy. A competent title insurer will carefully check for filed liens and also examine whether or not there is a risk of lien under the bulk sales act. It's the bulk sales issue where coverage may or may not be in place.When you have an entity subject to