Remove Document Remove Insurance Remove Legal Remove Technology
article thumbnail

Title insurers reckon with attorney opinion letters

Housing Wire

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. We haven’t seen any real data based on the conversation that it is going to save money.

Insurance 373
article thumbnail

Opinion: What you need to know for a successful real estate transaction

Housing Wire

The home-buying process involves numerous steps, documents and parties that you have to work with. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. By having a neutral third party manage the transfer of funds and documents, the sale can be completed quickly and efficiently.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Citywide Home Loans settles a $1.2M data breach lawsuit

Housing Wire

The news was first reported by legal website Top Class Action. The data compromised included “names, addresses, phone numbers, dates of birth, social Security numbers, passport numbers, driver’s license numbers, credit card information, bank account information and/or medical or insurance information,” the lawsuit says.

Legal 361
article thumbnail

FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided.

Brokerage 425
article thumbnail

ProperSign launches eSign tool for RON capabilities

Housing Wire

. “And since there’s no limit to the number of documents you can execute through QuickSign, organizations can use it for sales contracts, legal or human resource documents as well.” Currently, 32 U.S. states allow full eClosings. RON bills have also been introduced in several other states, and at the federal level.

Tools 318
article thumbnail

For title agents, it’s still all about data

Housing Wire

Those who aren’t really familiar with the settlement services industry tend to think of a title agency as, more or less, the business that makes the closing happen and delivers a title insurance policy. Some use their inbox as de facto storage for such information until the time is right to enter it into the proper documents.

Agents 430
article thumbnail

Remote online notarization is the proper path forward for digital closings

Housing Wire

The strong standards in the bill are important to prevent fraud and offer consumers a more secure alternative rather than simply using free online audio-audio technology when buying property or refinancing a mortgage. Prior to the pandemic, ALTA and MBA saw a need to develop model RON legislation.

Law 468