(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
The phrase "Build a better mousetrap and the world will beat a path to your door" is commonly attributed to Ralph Waldo Emerson. Although really a misquote, it could just as easily be stated as "Build a better mousetrap and someone will build a better mouse." The history of fraud and double dealing is as … Continue reading Gotcha!
Real estate transactions commonly involve a distinct set of challenges and time-frames. Settlement companies are staffed by experienced licensed professionals to conduct and facilitate those transactions within that particular jurisdiction. State-based licensing processes originated decades ago and those licensee obligations continually evolve and expand as industry professionals assist clients with greater pressure to perform services … Continue reading Multi-State Transactions
As the owner of Advantage Settlement, Inc. in Falls Church, Virginia, I have served the Virginia, Maryland, and Washington DC area since 2001, and have always had a diverse clientele. I have grown my business by learning, understanding, and respecting the needs of different cultures. I’ll share with you some differences you will face when doing business with multicultural consumers, as well as a couple of procedural considerations to keep in mind when insuring titles and conducting settlements.