Blog entries tagged Insurance

FHA Needs Funds: You Read It Here 6 Weeks Ago

Nick Will — Fri, 13 Nov 2009 00:30:26 +0100

Okay so reading this blog is like getting the news 6 weeks early. Granted, I thought it would make the news at the end of September, and here it is in today's Times:

The Federal Housing Administration said Thursday that its cash reserves had dwindled significantly in the last year as housing prices slumped and many of its borrowers defaulted on their mortgages.

Still, government housing officials stressed that the agency, which insures loans made by private lenders, Read More...

Rules on Choice of Title Company - Buyer Be(A)ware

Nick Will — Tue, 03 Nov 2009 01:24:14 +0100

The Real Estate Settlement Procedures Act was passed by the U.S. Congress in 2008 to govern certain aspects of closing most residential transactions in the United States. RESPA had a giant impact on how business is conducted in certain segments of the real estate industry, especially in title/escrow companies and mortgage lending companies.

The Housing and Urban Development Agency is the regulator of the Act, as it is the closing statements used in most residential transactRead More...

What is a Title Commitment

Anna Gonzales — Wed, 07 Oct 2009 13:03:46 +0100

The first time you receive a copy of a title company commitment, you might find it difficult to understand. Actually, the commitment is an easy document to read. Once familiar with the commitment, it becomes a road map to follow to ensure that the property being transferred is in insurable condition.

Explanation:

Schedule "A" - Information regarding policy or policies issued. Who is receiving the insurance and who has the right to deed our their interest.

Date - This is thRead More...