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New Jersey counties add $3 to recording fees

Mercer County will soon join Bergen and Middlesex Counties in establishing the County Homeless Trust Fund pursuant to P.L. 2009, Chapter 123 (N.J.S.A. 52:27D-287b et al.)

The statute authorizes the collection of a surcharge of $3.00 for most documents recorded by the County Clerk.  These funds are to be used by each County exclusively from the Homeless Trust Fund.

Bergen and Middlesex Counties began charging this additional fee earlier in 2010.Mercer will begin imposing the surcharge on July 1, 2010.

To avoid recording delays, all staff and interested parties should be made aware of this important change.

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ALTA Applauds AG for Recognizing that Consumers Need Title Insurance

Texas Attorney General Greg Abbott recently commented about how title insurance protects homeowners. American Land Title Association (ALTA) President Mark Winter applauded the attorney general for recognizing the value title insurance provides to consumers.

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FHA Commissioner Stevens clears the air

National Mortgage Professional Magazine recently had an opportunity to chat with David H. Stevens, Assistant Secretary for Housing at the U.S. Department of Housing & Urban Development (HUD), and 27th Commissioner of the Federal Housing Administration (FHA). Established in 1934, the FHA was designed to promote stability in the housing market by insuring fixed-rate mortgages for qualifying applicants. Commissioner Stevens is responsible for oversight and administration of the $600 billion FHA insurance portfolio. Today, nearly one in four new residential mortgages carries an FHA guarantee. Stevens also has responsibility for other programs within HUD, such as multifamily subsidized housing, healthcare facilities, and manufactured housing. HUD is the agency charged with administering and interpreting the Real Estate Settlement Procedures Act (RESPA).

Read entire article: http://tinyurl.com/yzdcxmr

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