Tag: Legislation

Settlements made harder

We're about to see some big changes regarding the delivery of HUD-1 Settlement Statements and Truth-in-Lending Disclosures, which could result in added cost and closing delays for homebuyers, if the Consumer Financial Protection Bureau's...

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House tries to speed up short sales

Short sales. These two words strike fear in buyers, agents and title companies. Whenever we receive a contract for a short sale, there is an immediate push to get out the seller HUD-1 to the short sale lender, ASAP! We get calls from everybody...

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Buyer beware with DC foreclosure addendums

Homebuyers of foreclosed properties in the District should think twice when signing a sales contract with release or waiver provisions in it, as it’s highly unlikely that any title insurance underwriter will agree to insure the transaction. In...

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Added oversight means added expense for homebuyers

Increased regulation on the title insurance industry will take a bite out of the wallets of homebuyers and refinancing homeowners in the District of Columbia in 2011. Added oversight will likely amount to added fees and less room for negotiation,...

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