query: what does POC on a HUD stand for

Paid Outside of Closing

query: what does POC on a HUD stand for

Paid Outside of Closing

gee, Charles, you didn't look very hard...we've been out here talking with consumers for YEARS

"We decided that the only fair option is to let the consumer select a title company they can trust, rather than leave that decision to the financial institution" says Charles Marino, CEO of Pennsylvania Title Company. "We don't know of any other title companies who are reaching out to the end user like this, and we feel it will be a positive direction in which to take our company" says Marino.

gee, Charles, you didn't look very hard...we've been out here talking with consumers for YEARS

"We decided that the only fair option is to let the consumer select a title company they can trust, rather than leave that decision to the financial institution" says Charles Marino, CEO of Pennsylvania Title Company. "We don't know of any other title companies who are reaching out to the end user like this, and we feel it will be a positive direction in which to take our company" says Marino.

Chicago Title held liable for fraud by employees

Fidelity National Financial Inc.’s Chicago Title Corp. and Chicago Title Insurance must pay $5.7 million in punitive damages for the role some employees played in a $30 million real estate scam, a San Diego jury said today.

The companies also were told to pay a share of $1.11 million in compensatory damages the California state court jury awarded to three investors who sued.

Read more on

Chicago Title held liable for fraud by employees

Fidelity National Financial Inc.’s Chicago Title Corp. and Chicago Title Insurance must pay $5.7 million in punitive damages for the role some employees played in a $30 million real estate scam, a San Diego jury said today.

The companies also were told to pay a share of $1.11 million in compensatory damages the California state court jury awarded to three investors who sued.

Read more on

error in proration or lender escrow?

Diane,I did not see a link to allow a new post on your Title Insurance Blog, so I wanted to email you.  I read many of the posts and several came close to my question, but as always a little different.
We recently purchased and closed on a condo.  Afterwards (about 10 days) my closing attorney contacted me about an error found by the seller on the HUD-1.  It was missing prorated insurance on

error in proration or lender escrow?

Diane,I did not see a link to allow a new post on your Title Insurance Blog, so I wanted to email you.  I read many of the posts and several came close to my question, but as always a little different.
We recently purchased and closed on a condo.  Afterwards (about 10 days) my closing attorney contacted me about an error found by the seller on the HUD-1.  It was missing prorated insurance on

read this article in the Baltimore Sun, please

Government knows it has a problem.

In a recently concluded report, the Commission to Study Title Insurance in Maryland, appointed by the legislature two years ago, wants the insurance commissioner to study setting up a guaranty fund to pay back future victims. It also suggests making title-insurance underwriters more responsible for the behavior of agents such as Sybert who represent them at the

read this article in the Baltimore Sun, please

Government knows it has a problem.

In a recently concluded report, the Commission to Study Title Insurance in Maryland, appointed by the legislature two years ago, wants the insurance commissioner to study setting up a guaranty fund to pay back future victims. It also suggests making title-insurance underwriters more responsible for the behavior of agents such as Sybert who represent them at the

Just because the grantor is FANNIE MAE you ought not to overlook review of the deed and power of attorney.

It's frustrating.  FANNIE MAE does not release the deed for review prior to closing.  We have to wait for a courier delivery of the original which arrives on the day of closing.  That means we have no opportunity to find problems before the last minute and usually everything is okay but not always.

This morning JC reviewed a FANNIE MAE deed for a closing in Somerset County.  The deed referenced

Just because the grantor is FANNIE MAE you ought not to overlook review of the deed and power of attorney.

It's frustrating.  FANNIE MAE does not release the deed for review prior to closing.  We have to wait for a courier delivery of the original which arrives on the day of closing.  That means we have no opportunity to find problems before the last minute and usually everything is okay but not always.

This morning JC reviewed a FANNIE MAE deed for a closing in Somerset County.  The deed referenced

WASHINGTON — The Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac to delist from the New York Stock Exchange and any other national securities exchange.

For more information, visit washingtonpost.com:
http://link.email.washingtonpost.com/r/U38ITL/O9UFJ/HSF107/H1TXYW/B985Y/JY/t

WASHINGTON — The Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac to delist from the New York Stock Exchange and any other national securities exchange.

For more information, visit washingtonpost.com:
http://link.email.washingtonpost.com/r/U38ITL/O9UFJ/HSF107/H1TXYW/B985Y/JY/t

query: what does owners extended coverage per rate filing mean for closings

hmmmm.....

I'm guessing the buyer bought extended owner title insurance rather than the regular owner title insurance which is less expensive.  The "per rate filing" just indicates that the charge for extended coverage is determined by a filed rate, likely with the state insurance department.

I'll further guess that the buyer didn't get a moment in which to choose whether or not to purchase the

query: what does owners extended coverage per rate filing mean for closings

hmmmm.....

I'm guessing the buyer bought extended owner title insurance rather than the regular owner title insurance which is less expensive.  The "per rate filing" just indicates that the charge for extended coverage is determined by a filed rate, likely with the state insurance department.

I'll further guess that the buyer didn't get a moment in which to choose whether or not to purchase the

But, he warned that restricting yield spread premiums (YSPs) and limiting how much a loan officer can make would impact lenders' ability to attract and retain qualified loan officers on their staffs.
Found this sentence is this article and it kinda makes me nauseated.  You see, I think reducing the amount earned by loan officers per mortgage transaction will reduce the origination capacity down

But, he warned that restricting yield spread premiums (YSPs) and limiting how much a loan officer can make would impact lenders' ability to attract and retain qualified loan officers on their staffs.
Found this sentence is this article and it kinda makes me nauseated.  You see, I think reducing the amount earned by loan officers per mortgage transaction will reduce the origination capacity down

oops...missed two items in foreclosure.....

Usually the foreclosing mortgage lender buys the property at sheriff sale.  Sometimes a third party decides to outbid the lender and that's what happened on the case sitting in our office.  Not only did a third party decide to outbid the lender but they immediately listed the property for sale and it went under contract BEFORE the sheriff's deed was recorded.  So that's a pretty good indication

oops...missed two items in foreclosure.....

Usually the foreclosing mortgage lender buys the property at sheriff sale.  Sometimes a third party decides to outbid the lender and that's what happened on the case sitting in our office.  Not only did a third party decide to outbid the lender but they immediately listed the property for sale and it went under contract BEFORE the sheriff's deed was recorded.  So that's a pretty good indication

query: do mortgage underwriters contact the IRS

At closing, most mortgage lenders require that the borrowers sign an IRS form 4506 which gives them the right to obtain a copy of the borrower's income tax form.  Mortgage lenders DO contact the IRS routinely as part of a good quality control program.  It's a fraud prevention tool and they DO catch fraudsters using this method.

I strongly advise against falsifying tax forms used in a mortgage

query: do mortgage underwriters contact the IRS

At closing, most mortgage lenders require that the borrowers sign an IRS form 4506 which gives them the right to obtain a copy of the borrower's income tax form.  Mortgage lenders DO contact the IRS routinely as part of a good quality control program.  It's a fraud prevention tool and they DO catch fraudsters using this method.

I strongly advise against falsifying tax forms used in a mortgage

hmmm...a word about a potential title insurance claim

In 2006 we insured a transaction for property which sat in two different municipalities.  The house and most of the land was in one and the back 50 feet of land was in another.

I received a letter last week from the grandfather of the insured stating that we had failed to clear title on the 50 feet and that we had better pay roughly $700 to resolve the matter and that his granddaughter ought not

hmmm...a word about a potential title insurance claim

In 2006 we insured a transaction for property which sat in two different municipalities.  The house and most of the land was in one and the back 50 feet of land was in another.

I received a letter last week from the grandfather of the insured stating that we had failed to clear title on the 50 feet and that we had better pay roughly $700 to resolve the matter and that his granddaughter ought not

a sure sign of trouble.....

Former Priority Search workers interviewed during the investigation verified that Sichler oversaw all business operations, with one former staffer describing her as an “absolute control freak” who insisted on opening every piece of mail and maintaining exclusive control over all company bank accounts and finances.  Read the rest of the story of theft and dishonor.  What a creep.

a sure sign of trouble.....

Former Priority Search workers interviewed during the investigation verified that Sichler oversaw all business operations, with one former staffer describing her as an “absolute control freak” who insisted on opening every piece of mail and maintaining exclusive control over all company bank accounts and finances.  Read the rest of the story of theft and dishonor.  What a creep.

ERIN TOLL....

Erin:  You topped my list of industry heroes.  I hear you are leaving the public sector for a real estate career.  GOD SPEED, LADY.  I wish you well. ;)

Radical

ERIN TOLL....

Erin:  You topped my list of industry heroes.  I hear you are leaving the public sector for a real estate career.  GOD SPEED, LADY.  I wish you well. ;)

Radical

finally a straight link

to the pdf.

finally a straight link

to the pdf.

query: what is it called when you have a signed contract and one party wants to amend it and the other doesn't so the first party refuses to comply with the contract until the other signs the amendment

I'd call it a breach of contract in which case you may wish to consult your attorney for advice.

query: what is it called when you have a signed contract and one party wants to amend it and the other doesn't so the first party refuses to comply with the contract until the other signs the amendment

I'd call it a breach of contract in which case you may wish to consult your attorney for advice.

June is do or die month for the federal homebuyer tax credit.

That means we can expect a HUGE closing traffic jam at the end of the month.  If you are refinancing or buying and expect to close during June, plan to close as soon as possible.  Please try to close in the first half of the month if you can because closing during a volume crunch is not pleasant.  There can be document or funding delays. You won't get a great selection of time, dates or location.

June is do or die month for the federal homebuyer tax credit.

That means we can expect a HUGE closing traffic jam at the end of the month.  If you are refinancing or buying and expect to close during June, plan to close as soon as possible.  Please try to close in the first half of the month if you can because closing during a volume crunch is not pleasant.  There can be document or funding delays. You won't get a great selection of time, dates or location.

query: falsifying Schedule A of the title insurance commitment

You have me really curious.  The only section of Schedule A that might cause harm if falsified is the title vesting area.  I can't think of any other item on Schedule A that would service a fraud.  The title vesting area is where the proposed insured buyer or lender learns who owns the property now.  Unless someone forges the title insurer's signature on Schedule A, you'd have to have a thief and

query: falsifying Schedule A of the title insurance commitment

You have me really curious.  The only section of Schedule A that might cause harm if falsified is the title vesting area.  I can't think of any other item on Schedule A that would service a fraud.  The title vesting area is where the proposed insured buyer or lender learns who owns the property now.  Unless someone forges the title insurer's signature on Schedule A, you'd have to have a thief and