Monday, May 24, 2010

nice job, ALTA!

per email from ALTA, "ALTA's language to limit the ability of the new Consumer Financial Protection Agency to regulate the title industry was included in final passage."

nice job, ALTA!

per email from ALTA, "ALTA's language to limit the ability of the new Consumer Financial Protection Agency to regulate the title industry was included in final passage."

query: what does a FHA spot audit cover

It's been awhile since my last FHA spot audit but I've been through a few over the years. 

The first was the most memorable.  It was in 1978 and I was a young originator.  The FHA auditor walked into our office, unannounced, identified himself and asked for 25 randomly selected files, some closed, most in process.  After he reviewed the files he walked over to my desk for a chat.  He explained

query: what does a FHA spot audit cover

It's been awhile since my last FHA spot audit but I've been through a few over the years. 

The first was the most memorable.  It was in 1978 and I was a young originator.  The FHA auditor walked into our office, unannounced, identified himself and asked for 25 randomly selected files, some closed, most in process.  After he reviewed the files he walked over to my desk for a chat.  He explained

query: seller won't release earnest money - pa

Earnest money also called hand money is a good faith deposit made by the buyer in a purchase transaction.  Earnest money shows the seller that the buyer is serious and willing to put money at risk in exchange for the seller taking the property off the market while the sale is pending.

When there is a real estate broker involved the money is held in the escrow account of the brokerage.  In FSBO

query: seller won't release earnest money - pa

Earnest money also called hand money is a good faith deposit made by the buyer in a purchase transaction.  Earnest money shows the seller that the buyer is serious and willing to put money at risk in exchange for the seller taking the property off the market while the sale is pending.

When there is a real estate broker involved the money is held in the escrow account of the brokerage.  In FSBO