CFPB – The New Loan Estimate In Plain English
The new Loan Estimate form replaces the early TILA disclosure and the Good Faith Estimate. It lists all the potential costs for the consumer’s loan like title insurance, percentage rates, closing costs, and the estimated monthly loan payment.
Creditors are responsible for calculating the best estimates possible for these services, which will be checked against the actual costs listed in the Closing Disclosure form when the loan is consummated. And unlike the former Good Faith Estimate, creditors can no longer revise and re-disclose if charges go up or down prior to closing.
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 […]
5 Title Insurance Questions to Consider when Purchasing a Home
For most people, purchasing or refinancing a home happens only a few times in a lifetime. And thus the topic of title insurance is only top of mind for a fleeting moment once every few years. So if you’re in the process of selling or buying real estate, here are a few refresher questions you […]