Math Made Easy With TicorAgent 2.0
We are so excited to announce the launch of TicorAgent 2.0, a tool that makes doing the math easy! How to get TicorAgent 2.0 Contact your Ticor Sales Executive for a demonstration and setup. With TicorAgent 2.0 you will be able to answer the following questions with absolute speed and confidence: How much will my […]
Refi drama and the importance of document execution guidelines
It is amazing how a divorce can affect a closing. Many people believe their domestic problems become the settlement agent’s problem and often look to the settlement agent to be the tie–breaker for them. It is important for a settlement agent to take a step back, stay out of the drama and never lose sight […]
A Wrap-Around Mortgage Gone Bad…
Early on in Allen Clussive’s career he agreed to close a transaction wrapping around an existing loan. The sale price on the transaction was $185,000. The buyer could not qualify for new financing and asked the seller to carryback a new loan in the amount of $180,000. The seller agreed, with the understanding that without […]
Referral Fees to the Borrower? Not Without Lender Approval!
Teresa V., REO escrow department manager for one of our sister branches, was working on a purchase transaction for another escrow officer who was out on vacation. The sale price was $325,000 with a new loan in the amount of $292,500. The buyer’s loan package had arrived and Teresa was inputting the lender fees — […]
Holiday Food & Gift Drive to Benefit Troops, Families, and Kids
Ticor has an established tradition of giving back to our communities during the holiday season. For the 2012 holiday season we are providing support by gathering food, supplies, funds, and gifts to benefit our military troops abroad, the hungry in our community, and children who hope for a happier holiday. Together, our generous donations will […]
Leverage MyTicor.com to Better Qualify Short Sale Opportunities
Short sale transactions currently make up approximately 20%-30% of the total transactions in the Northwest. Because that number is expected to increase, savvy real estate professionals are equipping themselves with the tools necessary to efficiently handle more short sale transactions than ever before. In addition, we are seeing loan servicers provide tools, structure, and education […]
Bank of America Short Sale Letter Verification Hotline
You might recall our post titled, “FAKE Short Pay Letters? True Story…” which discussed how an alert settlement agent identified a fraudulent approval letter supposedly issued by Bank of America. She prevented the closing, saving the Company from potential future liability. In an effort to prevent the reoccurrence of such fraud going forward, Bank of […]
Accommodation Signing Protects Against Elder Abuse
An unknown investor walked into our escrow branch to open an escrow for the purchase of residential property. The investor presented a handwritten contract that contained highly unusual terms. Sheri Davidson, the escrow officer, opened the escrow, but was suspicious based on the terms of the contract, which were as follows: The Sketchy Contract Terms […]
Payments to Entities vs. Payments to Individual Partners
Our Sister branch in Cerritos, Calif. was handling a sale of property wherein the seller was a partnership. The partnership was receiving almost $2 million in proceeds. The managing partner was concerned about depositing all the proceeds into one bank since the FDIC only insures deposits up to $250,000 per depositor, per insured bank. Can […]
The REO Transaction Process [Infographic]
With the housing market continuing to show positive signs with home values and rent prices moving upward, foreclosures continuing to decline, and interest rates at record lows, home buyers are presented with a unique opportunity as they search for real estate in the Puget Sound market.
Because REO or Real Estate Owned Transactions still comprise a significant portion of the inventory in the Puget Sound region, we have created the illustration below that depicts the REO transaction process, breaking it into three general sections; The Beginning, the Middle, and The End.