Starting January 1, 2017, water conservation retrofitting goes statewide for single family dwellings. All homes built on or before January 1, 1994 are required to update to complying water conserving fixtures on or before January 1, 2017. Commercial buildings and multi-family units built prior to...
One of our priorities here at American Trust Escrow is to ensure we keep you informed about topics affecting our industry! So, we wanted to share with you a few details about a pretty hot topic: Social media + RESPA We all love social media....
The language of escrow and the real estate transaction doesn't need to be a stumbling block; once you know the terms, these words become what they are meant to be - valuable tools to help smooth the road to a successful transaction. Contingency This is a clause...
On July 26, 2016, the Financial Crimes Enforcement Network ("FinCEN"), a bureau of the United States Department of Treasury, issued a Geographical Targeting Order ("GTO") requiring title insurers, their subsidiaries and agents, to report certain information in connection with the purchase of 1-4 unit residential...
Several cities have updated their retrofitting and property report requirements. We have the latest report requirements here on our website: https://americantrustescrow.com/city-property-report-requirements/. Check back often for updates!...
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...
The 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...
C.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....
On 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...
Pango 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...
