Pango Group Expands To Service Growing Business

New RepsPango Group has added three new Business Development Representatives to help service their growing client base. John VazquezRachel Gallagher, and Tamara Kalama will head up sales in areas including GlendaleOrange CountyLos Angeles, and surrounding cities.With more than four decades of collective real estate experience, the executive management team is growing the organization organically, opening new offices where opportunities exist. Most recent office openings include Sherman Oaks.
“Strategic growth has been and always will be one of Pango Group’s initiatives,” Jessica Kalkin, Sales Manager, said. “Building a strong sales team to support the growing market and new offices is critical in achieving this initiative.”

Read more here!

New Partnership with Giveback Homes!

Giveback Homes Pango GroupWe are excited to announce our new partnership with Giveback Homes. Giveback Homes was founded with the goal of bringing a new giving model to the world of real estate. Founded by former employees of Toms, Giveback Homes saw an opportunity to infuse social responsibility into the real estate industry. The company has grown rapidly over the past two years and has built over 50 houses in areas where housing is desperately needed including NicaraguaHaiti and El Salvador.

We are the first escrow company to partner with GBHs in the country.  This year we’ve committed to raise $20,000 and help build 4 homes through build projects in LA, OC, SD and the Desert.

Read more here!

TRID Closing Timelines

We did an analysis of what effect the ‪#‎TRID‬ implementation had on the median days to close for all closings before the 10/3/2015 implementation of TRID and all closings under the new rule which were opened after 10/3/2015.

Here’s the data for Refis (R) and Resales (S).

We have seen no significant closing delays since the TRID rule was implemented.

How have your transactions been going since the TRID rule rollout?

Screen Shot 2016-03-17 at 11.13.35 AM







Owner’s Title Insurance Policy Update

New RegulationThe CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance policy is not a transactional requirement nationwide.

This new descriptor was written to and applied nationwide with no allowance for customary contractual requirements in Southern California. Some parts of the country do not have the risk and liability of real estate transactions as we do in the highly populated State of California and thus Owner’s policies are considered optional and not a contractual obligation as they are here. As a reminder, the Closing Disclosure is a lender document and does not release the seller of any obligation to provide the buyer with required items per the mutually signed purchase agreement.

Here is a consumer friendly link on title insurance that might be helpful to your clients:

LexisNexis® Discontinues The Sale of C.L.U.E.® Reports

news-1C.L.U.E.® Home Sellers Disclosure Reports will no longer be available through American Trust Escrow or any other disclosure companies. LexisNexis®, the company that owns the C.L.U.E.® Report, has decided to discontinue the sale of the report through third party vendors such as California disclosure companies. Should a buyer request this report, sellers can obtain one free copy of his/her consumer file during each twelve month period. If a second report is needed in a 12 month period, a $19.50 fee will be charged. Proper C.L.U.E.® Reports can be ordered here.

Happy Holidays from American Trust Escrow


New Los Angeles Seismic Retrofit Ordinance

LA Seismic OrdinanceOn October 9, 2015, the Los Angeles City Council passed an ordinance to establish mandatory standards for earthquake hazard reduction.

Article1, Division 93 – Existing Buildings of wood-frame construction

Applies to buildings where a permit for construction was applied for before 1/1/78 and the ground floor portion of the structure contains parking or other similar open floor space that causes soft, weak or open-front wall lines, and there exists one or more stories above.

Compliance Requirements 

If a building is within the scope of this division and receives an order from the city, the owner must:

1.) Within 1 year provide a structural analysis demonstrating that the building meets or exceeds requirements as is OR will meet or exceed requirements after structural alteration OR plans for demolition

2.) Within 2 years, obtain all necessary permits for rehabilitation or demolition

3.) Within 7 years  complete construction or demolition under all necessary permits


Article 1, Division 95 – Non-Ductile Concrete Buildings

Applies to buildings where a permit for construction was applied for before 1/13/77.

Compliance Requirements

If a building is within the scope of this division and receives an order from the city, the owner must:

1.) Within 3 years, submit on the form provided by the Department a completed checklist for the Department to review and approve

2.) Within 10 years, if deemed ductile, submit an evaluation of the building documenting whether the building meets or exceeds requirements (click link below to see details of evaluation)

3.) Within 25 years, complete all necessary demolition or retrofit work on the building

To read the full ordinance, please click here.

Pango Group Passes It’s SSAE 16 Type II Audit

2015-SOC-Service-Org_B_Marks_2c_WebPango Group, American Trust Escrow’s parent company, has successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1 & SOC 2 Type II audit.

With the ever-evolving regulations mandated by the Consumer Financial Protection Bureau (CFPB), Pango Group is proud to be one of the first independent escrow companies in California to complete this Type II audit. By establishing and implementing systems that meet the guidelines of ALTA Best Practices and Escrow Institute Model Policies and Procedures, Pango Group is in the best position to be compliant with many of the lender requirements as a result of the CFPB regulations.

Read more here.

Happy Thanksgiving from American Trust Escrow

Screen Shot 2015-11-24 at 2.02.46 PMMay the good things of life be yours in abundance not only at Thanksgiving but throughout the coming year.

TRID Training

While we are a couple weeks into the new TILA-RESPA Rule implementation, there’s still plenty to learn on how it affects your upcoming escrows!

If you’re feeling like you need a refresher course on the new Closing Disclosure, transaction timelines, or other general TRID facts, contact us today to attend one of our training sessions or to set up a training session for your organization.