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

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: 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

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

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

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

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

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

this is interesting

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?

“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

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.

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

__________________________________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

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 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

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.

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

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

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

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

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

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...

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.

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.

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.  

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.

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.

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

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: 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

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

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

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

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

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

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!

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

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.......

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

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

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

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

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.

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?

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

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?

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

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.

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

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

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!

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.

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...

...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

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

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: 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

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