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...
CFPB Regulations are the hottest topic in our industry right now. When the TRID rules take effect, there will be industry-wide changes that will alter the way you will process your sales and run your business. Not to be overshadowed is the risk of identity...
You’ve heard about the drought for years. You’ve seen the “Water Wise” commercials on television and the electronic billboards on the freeway that read: “Drought. Save Water!” But, when the water companies start to fine you for inefficient or even wasteful water usage, that’s when...
Through many of our training classes, we’ve jotted down some questions from Realtors about the “Consumer Financial Protection Bureau” (CFPB) and upcoming changes and have answered a few of them here. We hope you find this information useful! Stay tuned for more Q&A posts! Should the...