Monthly Archives: March 2013

Title Insurance Issues

RESPA Rules on Agents

This article is a good summary what you need to ask yourself if there is a chance of a RESPA violation.  The article comes from Raealtor Mag

A home sale cannot be conditioned on the use of a specific title insurance company. Violators can face stiff penalties.
MARCH 2013 | BY PHILLIP L. SCHULMAN
It’s not unusual for a listing agent to have a favorite closing agent and want the buyer to close the transaction using that agent, along with the agent’s title insurance and settlement services. What many practitioners don’t realize, however, is that Section 9 of the Real Estate Settlement Procedures Act prohibits sellers from conditioning the home sale on the use of a specific title insurance company, and in fact violators can be subject to penalties, with the most -typical being a fine of up to three times the amount of the title insurance fee.

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Help Wanted

SENIOR TITLE EXAMINER – Tampa

From Indeed.com

Examination of title to Florida real property, ranging in complexity, to determine status and to establish chain of title;

  • Abstract and analyze deeds, deeds of trust/mortgages, easements, judgments, tax assessments, mineral reservations, and other applicable instruments;
  • 4+ years title experience;
  • Ability to work in an accurate, detail-oriented and highly productive manner;
  • Working knowledge of basic real estate title concepts;
  • Foreclosure title experience a plus;
  • Working knowledge of legal documents and how they affect title to real property;
  • Familiarity with title insurance commitment and policy format and all procedures required to prepare same—including abstracting, title examinations, survey analysis, etc.;
  • Familiarity with ATIDS; DataTrace/DataTree; General PC Proficiency; Microsoft Office Suite; Internet Explorer;
  • Familiarity with sectional and metes and bounds legal descriptions;
  • Ability to perform basic mathematical calculations and tasks requiring detail, concentration, and accuracy;
  • Ability to communicate professionally, both verbally and in writing;
  • Ability to work both independently and contribute in every aspect to a team environment.
  • Verifying ownership and encumbrances of real property;
  • Preparing professional reports;
  • Reviewing reports for accuracy.

See Post Here

Title Insurance Issues

A New And Different Housing Bubble Is Taking Shape

From Business Insider
Wolf Richter
March 19

We have seen it for several years now: foreclosure sales—there were 5 million since the peak of the housing bubble—have become the hunting grounds for investors with two goals: hanging on to these homes until the Fed’s flood of money drives up their value; and defraying the expenses of ownership by renting them out. And funds have a third goal: collecting management fees.

Read more: http://www.testosteronepit.com/home/2013/3/18/housing-bubble-ii-but-this-time-its-different.html#ixzz2OR8rvYgw