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Tag: Legislation

Language stemming from outdated DC law should be removed from lender’s loan packages

Written by Federal Title on 2014-09-23.

Several mortgage lenders continue to require borrowers to sign a statement at closing as to whether a borrower has a non-borrowing spouse or domestic partner living with the borrower. The recitation provided by the lender reads, "Washington,...

New Maryland bill to limit cost of condo resale package

Written by Federal Title on 2014-02-20.

Maryland law requires the seller to provide specific information pertaining to the resale of property within a Homeowner’s Association (HOA) or a property designated under a condominium regime. Typically, this information is produced by the...

Using Power of Attorney? Think again

Written by Federal Title on 2013-10-24.

Fannie Mae recently issued new restrictions on the use of power of attorney (see bulletin details). As a result, these new restrictions will apply to virtually every real estate transaction. One important restriction is that if you are doing...

New law will eliminate subordination agreement requirements for some Maryland residential refinances

Written by Federal Title on 2013-08-20.

A homeowner who wants to refinance his or her first mortgage when there are two mortgages on the property is typically required to obtain a subordination agreement for the existing second mortgage. This is because without such an agreement,...

Big change for Maryland refinances involving non-principal residences

Written by Federal Title on 2013-06-28.

Until recently, Maryland treated refinances of principal residences and other properties differently. A borrower refinancing a principal residence paid recordation taxes on the difference between the outstanding principal balance of the existing...

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Tag: Legislation

Language stemming from outdated DC law should be removed from lender’s loan packages

New Maryland bill to limit cost of condo resale package

Using Power of Attorney? Think again

New law will eliminate subordination agreement requirements for some Maryland residential refinances

Big change for Maryland refinances involving non-principal residences

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