LO’s are again asking about the RESPA rules — about when you can legally pay an affiliated party a referral fee. Dr. Gary Lacefield, RESPA Expert, has provided a RESPA REFERRAL FEE MATRIX and you can find it in the Charts & Checklist section of www.MortgageCurrentcy.com
Tag Archives: Pennsylvania Title Insurance
Major Expenses can Result in Special Assessements by Associations
Special Assessments are not uncommon when major storms hit; therefore, make sure when you are purchasing a property that is a CONDO or a PUD (Homeowners’ Association) that you speak directly with the association manager the day of closing if not at the time of closing (start calling the day before) and get in writing any outstanding dues and in particular, ask when the next meeting is to occurr and if any special assessments have already been voted upon.
Major Expenses can Result in Special Assessements by Associations.
Pennsylvania Insurance Department to Hold May 28 Public Hearing on Title Insurance
SOURCE Pennsylvania Department of Insurance
HARRISBURG, Pa., May 7 /PRNewswire-USNewswire/ — Insurance Commissioner Joel Ario today announced that the Insurance Department will hold a public informational hearing on title insurance at 10 a.m. on Thursday, May 28, in Hearing Room 4 of the Keystone Building, 400 North Street, in Harrisburg.
Topics discussed at the hearing will range from the basic structure of the product, the pricing of the product and the relationships between the title insurance companies and those who sell the product. Consumers and those from the title industry who are interested in testifying are encouraged to attend.
The department is charged with overseeing the title insurance business in Pennsylvania, including rates and policy forms, licensing of companies and title agents and market practices relating to title coverage. At the present time, an overall rate level increase of 4.1 percent is pending on behalf of the Title Insurance Rating Bureau of Pennsylvania.
Information about the upcoming hearing and related materials are available for review on the department’s Web site. Interested parties should visit www.insurance.state.pa.us, go to “Topical Information” on the right side of the site and click on “Title Insurance Hearing.”
EDITOR’S NOTE: The following information outlines the specifics about the public informational hearing:
The hearing will be held at 10 a.m. on Thursday, May 28, in Hearing Room 4 of the Keystone Building, 400 North Street, Harrisburg. Individuals wishing to testify may contact the department’s Office of Insurance Consumer Liaison and Market Analysis, 1326 Strawberry Square, Harrisburg, PA 17120, (717) 525-5884, or ra-in-consumerliaison@state.pa.us.
If hearing impaired, please call the department’s TTY/TDD telephone number (717) 783-3898. The deadline for written comments is June 4, 2009. Also, individuals may appear at the hearing without advance notice. They will be permitted to testify after all individuals scheduled in-advance has testified. Oral testimony will be limited to a 10-minute presentation. The department requests that individuals provide a written copy of their testimony the day of the hearing. Written testimony can be of any length.
CONTACT: Rosanne Placey or Melissa Fox
717-787-3289
SOURCE Pennsylvania Department of Insurance