On March 18th HUD issued important information pertaining to how mortgage loan originators comply with the Real Estate Settlement Procedures Act (RESPA) with regard to the Federal Reserve Board’s Loan Originator Compensation rule, effective April 1st. This information clarifies RESPA requirements related to proper disclosure...
Several months ago, the California Department of Real Estate issued a publication regarding Short Sale Fraud. Due to the increase in Short Sales in the market today, instances of fraud are continuing to grow. Typically, fraud occurs when there is an intentional failure to disclose...
At American Trust Escrow and our sister companies, Glen Oaks Escrow and Coachella Valley Escrow, we speak many different languages. We know our community is very diverse and understand the importance of making your clients feel comfortable during the escrow process. We believe that delivering exceptional...
Effective April 18th 2011, the FHA will raise the annual mortgage insurance premiums by "25 basis points" (or one quarter of a percent of the total value of the loan) for borrowers on primary, 1-4 unit properties. This change will not affect Title 1 loans, the HECM...
Each petal on the shamrock brings a wish your way - For good health, good luck, and much happiness Today and every day. ~ Author Unknown We are so lucky to have such a loyal following on the American Trust Escrow blog. We thank you for your...
Several new laws affecting the real estate industry became effective this year. In a previous post, we discussed SB 1149: Foreclosure Protection for Tenants, where a landlord is prohibited from harming a tenant’s credit score by revealing unlawful detainer records, unless the landlord prevails in court, and AB 1809:...
When real estate is sold in California, the state requires that income tax for that sale must be withheld. In this post we will discuss sellers who are individuals or who may qualify as an individual. We will also explain qualified exceptions and exemptions to...
Tuesdays, here at the American Trust Escrow website, we post Technology Tips designed to help you, the REALTOR®, grow your business, keep up to date on the latest technologies, and move you forward into the new era of real estate. Facebook. You’ve heard all about it. You...
From all of us at American Trust Escrow, we wish you health, comfort, and prosperity this holiday season. May your home be filled with the joy of family and friends. Merry Christmas!! ...
When purchasing a home, lenders will require home buyers to purchase Private Mortgage Insurance on FHA loans because their down payment is less than 20% of the value of their new home. This insurance allows borrowers with less cash to purchase a home with smaller...
