Archive for 'Legal Updates'

New HUD Rules Aim To Get Rid Of Closing Cost Surprises

New HUD Rules Aim To Get Rid Of Closing Cost Surprises

Posted on 25. Nov, 2009 by Stacey.

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Starting Jan. 1, loan charges and settlement fees will be spelled out on a revised version of the good-faith estimates form that borrowers are supposed to get after their mortgage applications. To read the full story, please click here

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Legal Update: AB 957: Buyer Selection of Escrow and Title Services

Legal Update: AB 957: Buyer Selection of Escrow and Title Services

Posted on 05. Nov, 2009 by Stacey.

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(Assembly Bill 957) Effective October 11, 2009, the Buyer’s Choice Act prohibits an REO lender selling residential property up to four units from directly or indirectly requiring the buyer to purchase escrow services or title insurance from any particular company.  A buyer, however, who has received written notice of the right to make an independent [...]

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