The relatively new concept of “risk-based pricing,” is now happening in the mortgage industry. The idea is that a person’s credit score plays a major factor in the interest rate charged. The better your credit rating, the lower your interest rate. This makes it important for us, as consumers, to improve our credit before seeking [...]
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Demotech Press Release Raises Questions on Financial Status of National Title Insurance UnderwritersA Demotech Press Release/advertisement for the 2008 Edition of Demotech Performance of Title Insurance Companies states that the major Title Underwriters are in good financial shape. The press release says: “Although the severity and duration of the downturn in the real estate marketplace will likely challenge smaller, privately held, regional Title underwriters, the overwhelming majority [...] Here we go again. Another bad title Agent. So what’s new? But why does it take so long for title underwriters to jump on a problem? In this particular case, a complaint has finally been filed by Old Republic Title against Independent Title Agency LLC in Lakeland, FL. Erica Daniels, 29, the owner was [...] HUD has once again put out, and and is asking for comments on a “Proposed Rule: To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs.” The proposed rule primarily deals with the Good Faith estimate. HUD states that the RESPA’s original disclosure requirements are no longer adequate. [...] According to a San Diego Business Journal article, a California insurance underwriter has created a new policy to insure against loss resulting from rezoning or condemnations through eminent domain. The policy is backed by certain underwriters at Lloyd’s of London. The insurance is being developed in response to the U.S. Supreme Court decision KELO vs. [...] Yesterday, My Fox News in Minnesota, reported a MN Commerce Department raid, where officials found thousands of mortgage closings that were never completed at two additional title companies – Title Source Mortgage Company and Home Sweet Home Equity. The raid showed that “more than 3,000 homes nationwide” were affected. The Commerce Department revoked the license [...] |
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