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

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.