December 12th, 2011

Important Year-End Dates to Remember

As the end of 2011 approaches it is a good idea to be mindful of some dates and deadlines so you can be sure your escrow closes on time.

The King County Courthouse, Chicago Title, and the banks are all closed on December 26th 2011 and January 2nd 2012 for the holidays. This means nothing can [...]

May 16th, 2011

A Case of Fraud

The following is a case of fraud taken from our Fraud Insights newsletter for May.

Careless Whispers

An escrow officer with Chicago Title’s Skokie, Ill. office, was conducting a signing without the buyer or seller in the room. To set the stage, the signing ceremony was being conducted with both the buyer and seller’s [...]

September 26th, 2010

The 22K –To Pay or Not to Pay, That is the Question!

Watch out for this one gang. As we see more short sales, this addendum may cause us all some headaches unless we understand it clearly. In the past, people have sold their homes, gotten their cash, paid their bills and moved on. Now, in the event of a short sale, there isn’t [...]

July 19th, 2010

Loan Officers Abscond With Broker Fees

We have an internal publication called “Fraud Insights”. This article appeared in the most recent issue and I thought I’d pass it along.

Loan officers from two different states embezzled funds from their employers by redirecting the payments to themselves at closing. These actions caused mortgage brokerages to implement tighter controls.

One of [...]

June 29th, 2010

SIGNING vs. FUNDING vs. CLOSING

Recently, I was reminded that closing customs & practices can vary tremendously from state to state. While I was reviewing closing documents with buyers relocating from New York, they expressed concerned about signing an “estimated” HUD, and asked when they had to come back in to sign the “final” documents.

This couple told me when they [...]

June 17th, 2010

Frequently Asked Questions Regarding the 2010 HUD

Now that we have all been using the new 2010 HUD for the past few months and are trying to get more comfortable with it, I thought I’d post this FAQ sheet to answer some more questions. 

This FAQ is designed to make it easier to read the 2010 HUD for transactions in the State of [...]

April 30th, 2010

An Update on the New 2010 HUD. Clarifying the Mystery!

How do you really feel about the 2010 HUD?  Have you looked at the 2010 HUD and said to yourself “My commission’s missing” or “This isn’t the total of my lender/mortgage broker fees”? Don’t worry, that’s the way it’s supposed to look. The 2010 HUD is no longer a simple detailed list of anyone’s fees.  [...]

February 11th, 2010

Are You Old Enough to Buy Real Estate in Washington?

Are You Old Enough to Buy Real Estate in Washington?

One of the recent real estate trends we’ve seen in escrow at Chicago Title-Seattle, are the increasing number of foreign buyers purchasing property here in Washington. There have been numerous foreign investors who have come to the United States to take advantage of the great deals [...]

January 19th, 2010

Top 10 Tips to a Smooth Closing

I was thinking about title and escrow and how baffling it must seem to a typical buyer or seller.  Really, when you think of it, it is this strange place with strange people where one signs strange documents and a normal person (probably not strange) must leave after they sign documents and just “hope” they [...]