Licensed title insurance agents and agencies who are RESA registered (“TSAs”) have certain responsibilities when ceasing business operations. These responsibilities include, but are not limited to: notifying the Bureau of Insurance prior to closing, handling escrow funds in a fiduciary manner, and filing a close-out audit with the Bureau. Sixty days prior to closing shop, … Continue reading TSA Close-Out Requirements
by Don Delgado, Vice President, Agency Administration Hurricane Harvey has left a path of devastation and destruction in Texas and beyond. Our hearts go out to everyone in that area of the country whose lives have been impacted. Harvey will no doubt have been catastrophic to many businesses. According to FEMA, 40% of businesses do not … Continue reading Agency Admin & Audit: Business Continuity & Disaster Recovery
By Palma J. Collins Those of us title folk who lived through the bursting of the real estate bubble and the great recession may have flash backs when contemplating the kinds of things that can go wrong with foreclosure titles. With record high foreclosures came every kind of title problem, some of them so byzantine … Continue reading Foreclosure Fails…What happens when the system breaks down
(a/k/a TILA/RESPA Integrated Disclosure Rule, a/k/a TRID) Those of us that have been involved with residential real estate settlements for a while, remember RESPA reform of 2010 and the Consumer Financial Protection Bureau’s (CFPB) “Know Before You Owe” rules that became effective October 3, 2015. July 7, 2017 CFPB issued the Final Rule dealing with … Continue reading Know Before You Owe Final Disclosure Rule 2017
A REVERSE FOR PURCHASE MORTGAGE TO FINANCE YOUR NEXT HOME. IT MAY BE THE RIGHT CHOICE, OR MAYBE NOT… Did you know that you can use a reverse mortgage for purchase of a new home? It’s true. It is very popular for seniors to use reverse mortgages to transform equity in their homes into cash … Continue reading Reverse Mortgages
It has been ten years since the Virginia General Assembly passed the Uniform Real Property Electronic Recording Act (URPERA). The uniform act can be found in Virginia Code Sections 55-142.10 to 55-142.15. It has also been ten years since I wrote the article “The Real Property Electronic Recording Act: Is Electronic Filing Really Here?” for The … Continue reading URPERA – Where are we now?
I can pay for my cup of coffee with my watch. I did all my holiday shopping without leaving my house and got a lot of the stuff delivered in 48 hours. I deposit checks, pay my taxes and buy my dog food online. About the only thing I can’t get on the internet is … Continue reading E-mail, E-Sign, E-Notarize? Considerations surrounding electronic real estate transactions