How Closing Timeframes will be Impacted by the CFPB
When the CFPB rules take effect in August 2015, the closing timeframes on purchases and refinances will be impacted. As part of the final rule creating the new Closing Disclosure and Loan Estimate forms, the CFPB determined that borrowers would be better served by having a short time to review the new Closing Disclosure prior to signing their loan documents. As a result, in its rule the CFPB mandated borrowers have three days after receipt of the Closing Disclosure to review the form and its contents.
Click below for the complete article and a brief illustrated guide.
You’re Invited to Our Open House at Ticor Title in Seattle!
You are cordially invited to join us for appetizers and libations as we celebrate the relocation of our Seattle escrow branch. The festivities will begin at 4:30PM October 24th. We hope you will join us! When October 24 4:30 – 6:30PM Where Ticor Title – Seattle Branch 1505 Westlake Avenue N Suite 150 Seattle, WA […]
Condo or Co-op, What’s the Difference?
Washington has a lot of condominiums, but also its share of cooperatives, especially in the Seattle metro area. On the surface they may seem similar. So what exactly is the difference between a Condo and a Co-op? What’s a Condo in plain english? A Type of Subdivision Both condo and co-op units are a type […]
REO Transaction? Watch for these details when setting client expectations…
Buying an REO (or Real Estate Owned) property involves a slightly different escrow process than your standard home sale. Realtors and Buyers need to remember that they are in escrow with a Bank/Lender (the “seller”) and the Bank/Lender has strict procedures in place that must be followed during the process. Understanding certain details can help […]