mortgage underwriting????

I guess since we have standards again, folks are experiencing real mortgage underwriting - perhaps for the first time. That's good but it sure is generating questions. I've had numerous e-mails over the past few weeks and decided to post answers to a few questions here.In my pre-title life, I was a mortgage underwriter - FHA direct endorsement, VA automatic approval and FNMA/FHLMC. I had the

mortgage underwriting????

I guess since we have standards again, folks are experiencing real mortgage underwriting - perhaps for the first time. That's good but it sure is generating questions. I've had numerous e-mails over the past few weeks and decided to post answers to a few questions here.In my pre-title life, I was a mortgage underwriter - FHA direct endorsement, VA automatic approval and FNMA/FHLMC. I had the

You need to watch this video.

Lessons to take away from it:Always read your title insurance commitment prior to closing.Always buy a professional survey prior to closing.This homebuyer did neither. Buying real estate is a major purchase and a consumer must participate with a thinking cap on.When you shop for your title insurance and settlement services, confirm that you will have a title insurance commitment for your review

You need to watch this video.

Lessons to take away from it:Always read your title insurance commitment prior to closing.Always buy a professional survey prior to closing.This homebuyer did neither. Buying real estate is a major purchase and a consumer must participate with a thinking cap on.When you shop for your title insurance and settlement services, confirm that you will have a title insurance commitment for your review

BTW - I loved reading the comments by PA AG Tom Corbett.

I think our AG folks here in PA have their heads around the issue. He gets it. The only weakness in the thought process, in my opinion, is that I still do not think they understand the real defalcation picture. Perhaps our industry has swallowed the problem and it's not easily seen by the public. That's a big bank of losses and Mr. Lipshultz was serious when he implied that competition might

BTW - I loved reading the comments by PA AG Tom Corbett.

I think our AG folks here in PA have their heads around the issue. He gets it. The only weakness in the thought process, in my opinion, is that I still do not think they understand the real defalcation picture. Perhaps our industry has swallowed the problem and it's not easily seen by the public. That's a big bank of losses and Mr. Lipshultz was serious when he implied that competition might

PA Attorney General Tom Corbett on title insurance

GOOD READING. ;)