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Fake Short Pay Letters? True Story…

On November 1, 2011 / Blog, Escrow

Leading the way.

The FNF Family of Companies is the leader in the industry. Being the leader is not always easy. Many times we are the first ones who uncover the latest schemes and, as a result, issue a new policy and procedure. It is our settlement agents who are on the front lines implementing the new policy and often hear, “No other company makes us do this!”

This story illustrates just how important it is for us to follow the Company policies and procedures even if no one else requires them.

Joy Turner, senior escrow officer for one of our sister branches, opened a sale transaction. The seller was in the process of negotiating a short sale with his lender, Bank of America, through the services of a third-party short sale negotiation company. There were no real estate agents involved. The buyer was purchasing the property using a private lender and the sales price was $200,000, pending approval from the existing lender.

On June 10, 2011, Bank of America issued their short pay letter approving the sale for $200,000. Per the letter, the closing was to take place no later than June 27, 2011. As the 27th approached, it was clear the buyer and seller were not going to meet this deadline. It did appear the transaction was going to close, but they just needed an extension of a few days. Joy told the seller she would need a revised letter extending the closing deadline.

The new lender’s funds came in on June 28, 2011 and so did the extension letter from Bank of America. The new deadline for closing on the short pay letter was July 1, 2011. On the morning of June 29, 2011 Joy worked to get everything together for recordation and disbursement. Per Company policy, Joy knew she needed to contact the loss mitigator at Bank of America to confirm the terms and amount shown on the short pay letter.

Something’s Fishy
Something about the extension letter and HUD-1 approval Joy received from Bank of America didn’t look right. First, the communication did not come through www.equator.com. This was unusual since approval letters were delivered using this online system for every Bank of America short sale Joy had closed recently. Joy picked up the phone and called the person named on the HUD-1 approval. His name was Vitto Pastor. Joy found it odd his title shown on the approval letter said Senior Operations Analyst, Business Operations, since it is usually a loss mitigator who issues short pay approvals. She left him a message.

“…according to their records, the seller had never applied for a short sale”

Shortly thereafter Joy received a returned phone call but it wasn’t from Pastor. It was Kenneth Teele, senior investigator at Bank of America. Kenneth advised her Pastor did work for Bank of America – but not in their Loss Mitigation Department and Pastor did not issue the HUD-1 approval letter. Kenneth went on to explain the HUD-1 approval and short pay letter she received were fraudulent and, according to their records, the seller had never applied for a short sale. He also revealed the outstanding loan balance for this loan exceeded one million dollars.

Joy left a message for the seller to call her, stating there was a problem with the short pay approval. Instead of returning her call, the seller e-mailed Joy asking her to send him copies of everything he signed, including the short pay letter. Joy again asked him to call her, but he responded by saying he was in a meeting and would call later. He never did.

The Buyer’s Perspective…
The buyer called to find out if his file had closed. Joy was in another closing so she asked one of her colleagues to tell him we would not be closing as the short pay letters were invalid. The buyer’s only response was, “Oh really?” Joy also attempted to contact the third-party negotiation company who never answered the phone or responded to her calls or e-mails.

The buyer’s lender contacted Joy on July 1, 2011, asking her to return the loan funds to them. Joy verified with her Operational Accounting Department the funds were being sent back to the same account they came from and reported the incident to her manager, Lisa.

Lisa shared the details with all the escrow officers in her operation and notified National Escrow Administration. Turns out, this was the 15th time our Company had been the target of this scheme. The bad news is, 14 of these closed and our claims department is currently working on them. The good news is Joy Turner prevented us from falling prey a 15th time.

Moral Of The Story
Joy’s transaction involved a $200,000 short sale on a loan with a balance of more than one million dollars. Had Joy accepted the short pay letter and closed, Bank of America would have rejected the nearly $200,000 short pay. The Company would have had to either unwind the deal or face a potential loss of more than $800,000 to obtain a lien release, and deliver both free and clear title to the insured buyer, and a first lien position to their new lender.

Following Company policy can seem cumbersome, but this story proves it is well worth the extra effort.

Questions or comments? Please share below!

What Happens Between Signing and Closing of Escrow…

On October 25, 2011 / Blog, Escrow

Note: This Article was originally published October 25, 2011. An updated version with current information is available here: What’s the Difference Between Signing and Closing Escrow

What’s the difference between “Signing” and “Closing Escrow?”

When people talk about a real estate purchase, they sometimes use the terms “signing” and “closing” interchangeably in reference to the event when the buyers sign documents with Escrow. However, there are several events that take place between the buyer’s signing appointment and the actual closing of the real estate transaction. Let’s take a moment and review that process.

Download

Download a printable article here: What Happens Between Signing and Closing of Escrow

Signing of Documents:

Escrow receives the loan documents (if applicable) from the Lender and prepares them for the buyer to sign along with final statements and any other required documents. Upon receipt of the loan documents from the lender, the escrow closer prepares the HUD 1 settlement statement and all other legal documents required for the transfer of title into the buyers name.

Lender Reviews Documents & Funds the Loan:

Once the loan documents have been signed, the escrow officer delivers them back to the lender for review. When the lender is satisfied that all required documents have been signed and all outstanding loan conditions have been met, the lender will notify escrow that they are ready to disburse the loan funds to escrow. Upon receipt of the wire from the lender, the escrow officer is authorized to send the transfer documents to the county for recording. The time frame for review is normally 24 to 48 hours.

Excise Tax:

Real estate transactions in Washington State that involve conveyance of property require consideration of Excise Tax. All appropriate tax amounts must be paid before the county will allow the Deed conveying title to be recorded.

Deed of Trust:

A legal document that evidences an agreement of a borrower to transfer legal title to real property to an impartial third party, a trustee, for the benefit of a lender, as security for the borrowers debt.

Warranty Deed:

The legal document used in most states by which title to real estate is conveyed from one party to another.

Recording is Authorized:

Once recording is authorized by the lender, documents are hand carried (in most cases) to the county recorder’s office by the title insurance company. The Warranty Deed is recorded first, showing the transfer of the property to the buyer, with the Deed of Trust recorded next. Recording the Deed of Trust just after the Deed insures the lender’s first lien position on the property.

Recording Numbers Received:

Recording numbers are the unique numbers given by the county recorder’s office to a properly executed legal document thereby making it part of the public record. In other words, when we have recording numbers, the buyer is “on record” as holding title to the property.

Now We Have Closed Escrow

Once the deeds have been recorded, and funds are available to the seller, we can say that we have “closed” and the new owner may take possession of the property as set forth in the Purchase and Sale Agreement.

Do you have questions or thoughts about the escrow process? Please share by leaving a comment below!

What Makes a Real Estate Description “Legal”?

On October 18, 2011 / Blog, Title Insurance

The real estate closing is imminent but the title company calls and says there is a question about the legal description. How could that happen?

The legal description of the land is obviously one of the most important elements of the transaction – it describes what the buyer actually gets at the closing. But errors can be easily overlooked, and the resulting problems can be quite serious.

Legal description details to watch for:

Which Lot is being transferred?
The sellers might own two adjacent lots acquired in the same deed, but perhaps they built a new house on one and only want to sell the other one now. If it’s obvious that they own multiple parcels, it is imperative to confirm that the deal is to include all of them, and if not, make sure that the parties agree in advance as to which lots are intended to be included.

Does the description match what the seller intends to sell?
The sellers could have acquired the adjoining lot after they bought the home, or just a sliver of land because of a “lot line adjustment” with a neighbor dealing with an encroachment. Maybe a portion of the adjoining street or alley was vacated. But if the purchase and sale agreement only includes what was on the deed when the seller bought the house and that oversight isn’t caught, the buyer won’t get everything the seller intended to sell. Best to catch it now and not have to track down the seller later.

Lot line adjustments can be a problem.
It is important to make sure that the boundary is actually where the parties think it is, but also to make sure it’s reflected in amended tax parcels, subdivision maps and mortgages on both parcels. Most important, any boundary line agreement needs to include a mutual conveyance from each of the neighbors. It’s one thing to agree where the property line is, but another to make sure each has good title to the land on either side of that line – and then make sure the purchase agreement and deed agree.

Vacated Roads

Road vacation is the legal process of undoing a road creation. The vacated road ceases to be a
public road where the public has the right to travel. The vacated property usually reverts to the abutting owners up to the center of the road.

How are vacated roads handled in WA?
Vacated roads are especially important, because that land does not automatically pass with the sale of the adjoining main parcel if not described in the deed. In Washington vacated road must be expressly described in the deed.

Sale after foreclosure
Along these lines, if the house is being sold after a foreclosure it’s important to make sure the deed of trust and trustee’s deed included all the land the borrower acquired after taking out the loan.

We all know that the address is not itself a “legal description” and would not be sufficient in a deed. Nor should the address (and/or tax parcel) only be used in a purchase and sale agreement. In both cases a complete legal description is necessary. Otherwise it’s easy to overlook things such as the fact that the address might only apply to one of the lots owned by the seller.

Is a tax parcel sufficient as a legal description?
Tax parcels can be a trap. For example, where a lot line adjustment occurred the additional land might not have been included in the main tax parcel, or may have been assigned a new tax parcel number.

“It’s a good idea to visually check the property, and walk the property lines with the seller with a legal description in hand.”

Practical tips to use when purchasing a parcel

Click the image above to download a printable version of this article.

It’s a good idea to visually check the property, and walk the property lines with the seller with a legal description in hand. Is there a vacant lot or a “greenbelt” next door? Does the yard look extra-large compared to other lots in the neighborhood? Is the driveway shared with a neighbor, or does it seem to go over the adjoining land? Does the garage or a shed in the back yard sit right on the line – or over it? Do all utilities come directly into the property from the street, or might some cross the neighbor’s land?

If property line issues arise they may cause a delay in closing, but if discovered early in the process by paying attention to the description and looking at the property they can usually be resolved quickly to everyone’s satisfaction.

For information on the types of legal descriptions, click the link below:

Real estate legal descriptions in WA

Questions or comments? Please share below!

Flopping – The Latest Short Sale Scam

On October 4, 2011 / Blog, Escrow

Short Sale Loss Mitigation

It is estimated lenders lose hundreds of millions annually in undervalued short sale transactions. Loss mitigators working on behalf of the lenders have anywhere from 450 to 600 active files on their desks at one time. Working the best deal for the lender is an all-consuming task for the loss mitigators and each short sale has its own complexities.

When a seller applies for short sale approval, the seller submits hardship affidavits and signs forms such as a Purchaser Eligibility Certification which includes statements such as:

In making this request for consideration of a short sale I certify under penalty of perjury:

All of the information in this document is truthful.
I/We agree that the financial information provided is an accurate statement of my/our financial status. I/We understand and acknowledge that any action taken by the lender of my/our mortgage loan on my/our behalf will be made in strict reliance on the financial information provided.
I understand that if I have intentionally defaulted on my existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this document, the lender may cancel any modification of foreclosure prevention agreement and may pursue foreclosure on my home. I understand the lender will use the information in this document to evaluate my eligibility for a short sale.

Even with statements such as these, the loss mitigator still goes through a process to confirm the information provided by the seller is true, but some fraudsters have found ways around this.

A Short Sale Flopping Example

In August 2010 one of our our South Pasadena, Fla. offices closed a short sale transaction. The seller (we will call him Jim Kling) had two loans on the property and the lender on both loans was Bank of America. The sales price was $425,000. Bank of America agreed to the sale and issued short pay approval letters for both loans.

The buyer was a LLC and the managing member of the LLC was Bill Hamley. The buyer purchased the property with cash and did not get a purchase money loan. At closing, the buyer and seller both signed an arm’s length affidavit which contained these statements:

“There are no hidden terms or hidden agreements or special understandings between the Seller(s) and the Buyer(s) or among their respective agents which are not reflected in the Agreement or the escrow instructions associated with this transaction.

There is no agreement, whether oral, written, or implied, between the Seller(s) and the Buyers and/or their respective agents which allows the Seller(s) to remain in the property as tenants or to regain ownership of the Property at any time after the consummation of this sale transaction.”

Cindy Archer at our escrow office was the settlement agent. She closed the sale in accordance with the terms of the short sale approval letters. Upon receipt of the payoffs, Bank of America promptly prepared and recorded a satisfaction of mortgage for each loan.

In April 2011, the buyer decided to sell the property. The seller entered into a purchase and sale agreement, and opened escrow with Cindy Archer. The title report was ordered, and upon receipt of the title report Cindy reviewed the requirements. She ordered the HOA demand, checked the property taxes and looked up the LLC with the state. The LLC was in good standing but the managing member had changed. According to the state the managing member was now Jim Kling. Remember that name? Jim Kling was the borrower who signed an arm’s length affidavit when he sold his home via short sale stating he had no side deals with the buyer. This same Jim Kling was now re-selling his home for almost one hundred thousand more than what he sold it for just eight months earlier. Not in our office he’s not!

Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property.”

How could Jim re-sell the same property less than a year later for $100K more when the real estate market is still depressed? This is the latest trend in mortgage fraud and it is called flopping. Flopping is the opposite of flipping. Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property. This information is provided to the loss mitigator who approves the sale based on the fraudulent information. The buyer then turns around and sells the property at fair market value, realizing a profit the lender should have received. In this instance, both the buyer and seller participated in defrauding the lender.

Flopping is a serious concern.

According to Fannie Mae a flopping scheme requires the perpetrator to conceal or provide falsified information to the loan servicer. This is information the servicer needs to make an informed short sale decision. These concealments may include hiding:

The true parties to transaction
Any contingent transactions
The true value of property
The transaction described above was not an arms-length short sale. Clearly the principals worked together to facilitate a reduction to the existing loan, resulting in the original borrower making a profit from the sale of his home. This is mortgage fraud on the part of the seller.

Our Company will not knowingly participate in defrauding or misrepresenting to a lender any facets of a transaction. Cindy had no knowledge of the fraud during the prior transaction. But, in the subsequent transaction, she could see what transpired and was not about to facilitate the completion of this crime. Cindy resigned from the transaction.

Earnest Money Instructions Clarified on New NWMLS Form 21

On September 27, 2011 / Blog, Escrow

The recent changes to paragraph b “Earnest Money” in the NWMLS Purchase and Sale agreement (Form 21) finally gives escrow the authorization they need to assist in the release of the earnest money upon termination of the agreement. We are very pleased with this change; it will not only eliminate delay but will result in happier buyers, sellers, brokers and happier closing agents.

The Old Paragraph B – Why the confusion?
Remember that Escrow is a neutral third party that can only follow written instructions agreed upon between the buyer and seller. In the former version of the NWMLS Form 21 paragraph b. the instructions for what a closing agent could do with Earnest Money was EXTREMELY limited.

Under the old agreement the parties had to agree in writing as to disbursement of the earnest money, in the absence of such an agreement (Rescission) the closing agent was instructed to commence an interpleader action within 30 days of the demand. These limited choices left everyone including the closing agent feeling very frustrated.

A New Paragraph B – Clear Instructions
The revisions made to the form as of 8/11, provides the closing agent with the clear and precise instructions they need in order to release the earnest money in a timely manner. Not only does it give clear instruction to the closing agent but the buyers and sellers have also been given clear notice of the process if there is a dispute with earnest money.

Upon termination of the agreement the parties shall execute a release form (Authorization to Disburse Earnest Money – Form 50), if either party fails to execute the form, the other party may make a written demand to the closing agent for the earnest money. The closing agent shall promptly deliver notice of the demand to the other party. If the other party does not object to the demand with 10 days of said notice the closing agent is authorized to disburse the funds to the party making the demand. In the event of dispute over the earnest money, the closing agent can still commence an interpleader action.

What do you think? Will these revisions save you time and effort in the future? Please share your thoughts by commenting below!

For your reference, we have included paragraph b. here:

Residential Title and Escrow Rate Calculator – TicorRates.com

On September 20, 2011 / Blog, Escrow, Title Insurance

Online rate calculators for title and escrow services have become indispensable tools for loan originators over the last couple years. Why? Because a higher degree of accuracy is now required when loan originators disclose settlement fees to consumers on the Good Faith Estimate or GFE. And with settlement fees falling into three tolerance categories it’s critical for loan originators to know that the fees quoted by the title insurance and escrow provider will be accurate and won’t change by more than 10%.

Calculate rates for your GFE instantly! Try out the free title and escrow rate calculator today! Click here to try it now at TicorRates.com!

Therefore as a service to our clients Ticor has created an easy to use, online rate calculator. View the calculator at http://ticorrates.com to try it out today!

TicorRates.com benefits:

It’s easy to use
24/7 availablility
No need to log in
Calculate Fees in under a Minute
Quotes are valid for 60 Days

Here’s a 2-minute video tour of TicorRates.com
Click on the play button below to watch it now.

A quick review of the GFE and HUD-1 Settlement Statement Changes

Last year significant changes were made to RESPA’s two primary disclosure forms (GFE and HUD-1 Settlement Statement) for the purpose of ensuring more timely and effective disclosures of the settlement costs of residential mortgage loans. One of the major changes was the addition of a third page to the HUD-1 which facilitates a side-by-side comparison of the settlement charges listed on the Good Faith Estimate vs. actual charges on the HUD-1 settlement statement. In addition, the new HUD-1 makes it easier for lenders and settlement agents to identify tolerance violations with the settlement charges.

Charges that cannot increase on the HUD-1 Settlement Statement

Origination charge
Credit Charge
Adjusted origination charge
Transfer taxes

Charges that cannot increase in total by more than 10% on the HUD-1 Settlement Statement

Recording fees
Title Services
Any other required services that are provided by a company identified by the loan originator

Charges that can increase on the HUD-1 Settlement Statement:

The initial escrow deposit
Daily interest charges
Homeowner’s insurance
Any required services consumers purchase from providers not identified by the loan originator

What do you think? Is this calculator a time saver for your business?

Please share by commenting below!

Is Title Insurance Worth It? Fraud Victims Covered…

On September 12, 2011 / Blog, Title Insurance

A senior escrow officer at one of our sister companies recently purchased an investment property for all-cash with her brother. After closing, they renovated the property and found tenants who would sign a long-term lease. Six months later, the property was foreclosed upon by Bank of America and the escrow officer and her brother almost lost their investment!

Title Insurance Claim Story

Fortunately for the escrow officer and her brother, they purchased title insurance at closing. They immediately notified the claims department of their loss. The claims officer began researching how the buyers could have lost the property to foreclosure when they had not mortgaged the property in the first place.

A Shell Game Indeed…
What he found was shocking. In 2010 the original owners fell on hard times and stopped making payments to Bank of America on both their mortgage and Home Equity Line of Credit (HELOC) as evidenced by more than one recorded Notice of Default in public records. Shortly thereafter the owners recorded a Substitution of Trustee and Deed of Reconveyance for each loan. These documents purportedly released the two Bank of America loans. They were supposedly signed by an authorized representative of BAC Home Loan Servicing, LP, but were not signed in the home office of Bank of America. Instead these two releases were signed, according to the notary, in Placer County, Calif.

Next, the property owners deeded their (now free and clear) piece of property to a company, called Atlus Equity, LLC, which subsequently listed and sold the property to our escrow officer and her brother for $190,000. The tenants living in the property received Notice of Trustee’s Sale and stopped making their monthly rent payments to save for an impending move once the foreclosure occurred.

“The claims department is standing by to write the check to Bank of America in exchange for their deed.”

In the meantime, the escrow officer and her brother have been working with the claims officer to settle with Bank of America to deed the property back to them. The Trustee’s Deed Upon Sale states the bank is due $189,000. The claims department is standing by to write the check to Bank of America in exchange for their deed.

Sadly, after a search in the claims system, we have discovered this same scam has been pulled by the same individuals at least five times leading up to this claim.

Moral Of The Story
There are specific elements that we are cautious of when examining title for free and clear property. Specifically, we investigate the event that led to mortgages being paid in full and review recorded lien releases and investigate their authenticity if they appear to be executed outside of the main lender office.

What do you think? Is title insurance worth it? Please share your thoughts by commenting below.

1. Who qualifies for domestic partnership?

Domestic partnerships can apply to persons of the same sex, but also to those of the opposite sex where at least one of them is 62 years old or older. This is important to those who want some of the benefits of marriage but who do not want to be married. For instance, a domestic partnership will allow inheritance of a home as if the couple were married, but preserve the single status of those persons who do not want the relationship to affect, for example, pensions or Social Security benefits. For those couples it is important that the legal relationship not be equivalent to marriage.

“Domestic partnerships can apply to persons of the same sex, but also to those of the opposite sex where at least one of them is 62 years old or older.”

2. How do domestic partnerships effect real estate ownership?

Broadening the treatment of real property to apply to domestic partnerships means that now interest in real property is equivalent to both homestead and community property for a married couple. (Please see previous post on community property & homesteads in WA by clicking here.) And, of course, if either partner dies without a will, title to real property will be treated the same as for a married couple in similar circumstances. (Please see May 2011 post regarding probates.)

3. How can I have a domestic partnership legally recognized?

In order for the domestic partnership to be legally recognized in Washington State a declaration of domestic partnership must be completed and filed with the Office of the Secretary of State, Corporations Division. It can be terminated automatically if the partners marry each other as recognized in Washington (which would only apply to domestic partners of the opposite sex). It can also be terminated voluntarily by filing a notice and affidavit with the registry and meeting certain other criteria. The final way it can be dissolved is by a court process similar to marriage dissolution.

4. Will Washington State recognize a same-sex marriage registered in another state?

Limited reciprocity rules apply to domestic partnerships. A legal union formed in another state that is “substantially equivalent” to a Washington domestic partnership will be recognized here as such. However, a same-sex marriage that is legal in another state is not recognized in Washington as either a marriage or a domestic partnership.

Washington State Domestic Partnership Resources:

Domestic Partnerships – WA State
Frequently Asked Questions
Domestic Partnership Declaration.pdf

Questions or comments? Please respond by leaving a message in the comment box below!

Fraudulent Mechanic’s Liens Thwarted

On August 16, 2011 / Blog, Escrow, Title Insurance

Unfortunately, REO properties are a prime target for fraudulent Mechanic’s Liens, since it is not uncommon they might need some repairs or work done and since there are so many different people involved in rehabilitating foreclosed properties for eventual resale.

A fraudulent mechanics lien was filed repeatedly against bank owned properties.

Fool me Once…
One of our sister companies had a sale transaction wherein Federal National Mortgage Association (FNMA) was the seller as the property was an REO bank owned property. The title report reflected a Mechanic’s Lien payable to Anna Moskovyan for painting. Moskovyan was contacted for a payoff statement and lien release. The payoff amount was shown on the settlement statement, however, FNMA stated they were not aware of any work being performed on the property by Moskovyan. Since this transaction was so close to closing, FNMA approved the payment and did not dispute the invoice or lien. Moskovyan came to our offices and picked up her check in exchange for a release of her lien.

Something’s Fishy…
Shortly afterwards an officer, Paula, from another sister company noticed Mechanic’s Liens appearing on all the title reports wherein FNMA was the seller. Paula did some further investigation and discovered, upon closer examination, it appeared the lien was exactly the same – simply recorded over and over again against different REO properties owned by FNMA. This is when the following warning was sent to her co-workers:

Mechanic’s Liens were recorded on FNMA properties in our area. The exact same lien, for the exact same amount, for the exact same service, was found recorded against several properties. We’ve checked with FNMA and the Listing Agent and this woman who signed this Mechanic’s Lien had not been contracted with to provide any services; the properties in question were not painted and were never scheduled to be painted. If you receive a title report or a supplemental report with a Mechanic’s Lien, let us know immediately so that we can get this addressed before you try to record. The agent in this particular case has had six of his FNMA listed properties compromised in this manner, and he has no idea who this person is.

We are not sure how wide-spread this is and whether it has gone to surrounding counties, however, it will likely disrupt recordings in our area for a while, and we need to keep our eyes open for them.

Once our offices confirmed FNMA had not contracted with Moskovyan to perform work on its properties, the operations obtained an indemnity on each transaction in which a fraudulent Mechanic’s Lien was filed with the county recorder and proceeding to close without paying the lien holder. The listing agent reported the fraudulent liens to the police department, and a case number was assigned.

Be Aware
If this lien or similar liens appear on your title report, do not take the lien at face value. Do some investigating and contact the seller and listing agent to make sure any lien affecting a property is, in fact, a true lien and not fraudulent. This could end up saving the customer and Our Company from a potential lawsuit.

The sad part of this tale is how it illustrates anyone can take a document to the County Recorder’s office, pay the appropriate recording fee and have it recorded against any property. The county does not check for validity of a lien, just that the document is in the proper format. The integrity of our public records system is broken down with every fraudulent document recorded. This only emphasizes the importance of title insurance and what a vital role Our Company plays in the American dream of home ownership.

Questions or comments? Please leave a share below!

Archive for the Blog Category

Fake Short Pay Letters? True Story…

Leading the way.

Questions or comments? Please share below!

What Happens Between Signing and Closing of Escrow…

What’s the difference between “Signing” and “Closing Escrow?”

Download

Signing of Documents:

Lender Reviews Documents & Funds the Loan:

Excise Tax:

Deed of Trust:

Warranty Deed:

Recording is Authorized:

Recording Numbers Received:

Now We Have Closed Escrow

Do you have questions or thoughts about the escrow process? Please share by leaving a comment below!

What Makes a Real Estate Description “Legal”?

Legal description details to watch for:

Vacated Roads

Questions or comments? Please share below!

Top 8 Questions About FIRPTA

Questions or comments? Please let us know by sharing below!

Flopping – The Latest Short Sale Scam

Short Sale Loss Mitigation

A Short Sale Flopping Example

Flopping is a serious concern.

Earnest Money Instructions Clarified on New NWMLS Form 21

Residential Title and Escrow Rate Calculator – TicorRates.com

Is Title Insurance Worth It? Fraud Victims Covered…

Top 4 Domestic Partnership Questions

1. Who qualifies for domestic partnership?

2. How do domestic partnerships effect real estate ownership?

3. How can I have a domestic partnership legally recognized?

4. Will Washington State recognize a same-sex marriage registered in another state?

Fraudulent Mechanic’s Liens Thwarted

Fidelity National Title Group

Ratings and Claims Paying Ability