title fees: I really love working with you, but, your fees are just too high! - 08/19/14 06:13 AM
That was the call I took last month  from a Realtor with whom I have completed several transactions.  She called to tell me that she had just sold a home to a first time home buyer and that she was going to refer the transaction to me, but another title agent quoted her a fee that was $50.00 less than my normal fee.   The buyer was  just barely able to prove the required funds needed to complete closing and the Realtor wanted to make sure that title fees weren't going to keep this young buyer from achieving her dream!  She did not ask … (7 comments)

title fees: You have an on-line PRESENCE, but are you PRESENT? - 08/03/12 03:44 AM
Every day we update out Twitter feed, enter our status on Facebook, blog, e-mail and text message to our clients in the hope that our on-line presence will attract their attention.  It is important to do this, without question, but is that the only way in which you are communicating with your client base?  More and more lately I find that people are only communicating via electronic media.  I too find myself often falling into this same habit of sending a quick e-mail rather than picking up the phone sometimes and I resolve to stop relying upon electronic media to connect with … (0 comments)

title fees: The Affiliated Business Arrangement Addendum- What it really means to you - 01/03/12 07:24 AM
When a buyer or seller is presented with a standard contract of sale that contract can now far exceed more than 40 pages.  Among those pages is often found a page titled "Affiliated Business Arrangement Disclosure Statement"
It is not at all uncommon for the Realtor to present the contract of sale to the buyer/seller and to simply point and say "sign here, here, here and initial here, here, here."  More often than not buyer/sellers will do just that without bothering to read any part of the contract, or alternatively, simply reading what they feel to be important to them, such … (0 comments)

title fees: A real estate closing is like a scrapbook page, it needs glue - 04/18/11 08:44 AM
One of my hobbies is creating scrapbooks for my children and grandchildren.  As I was working on some scrapbooks yesterday it occurred to me that a real estate closing is very similar to a scrapbook page.  The page starts with an idea, then you lay out your pictures, embellishments and so on until you have a page that is appealing to you.  Once you lay out the page you begin to glue the picture and embellishments to the page to create a permanent memorial to a time in your life or that of your loved ones.
 
 NANA and MADDIE sharing … (1 comments)

title fees: COMMISSION CHECKS AT THE CLOSING TABLE - 03/03/11 06:05 AM
Over the last 25+ years I have delivered thousands of commission checks to Real Estate Agents/Brokers at the closing table.  It has always been my pleasure to offer this convenience to my clients who would prefer that I not mail the broker's checks, thus enabling the agent to get paid in a more timely fashion. 
Long, long ago I would be asked to write two checks at closing.  One to the listing broker and one to the selling broker.  Oh, how things have changed of late.  And, honestly, I don't like it. 
More and more often of late I have been asked to … (0 comments)

title fees: FREE MONEY TO BUYERS AND TO REALTORS- FANNIE MAE HOMEPATH ANNOUNCEMENT - 09/23/10 04:22 AM
 
 
Fannie Mae announced today that it will be offering incentives to Buyers beginning on September 23 through December 31, 2010.  The buyers will be offered an incentive of UP TO 3.5% of the final sales price which can be used toward closing cost assistance, including a home warranty, if desired and available.
The property sale must close on or before December 31, 2010 and withing 60 days of offer acceptance. The buyer must be an owner occupant and you must submit an owner occupant certification The offer of up to 3.5% is considered a seller contribution and as such … (2 comments)

title fees: A WELCOME LETTER FROM A LENDER RELATING TO ADVANCE DELIVERY OF CLOSING INSTRUCTIONS - 06/23/10 08:38 AM
I received a letter today from a lender with whom we do business here in Maryland.  This lender has taken it upon themselves to send us and other title agents with whom they do business a letter describing their new closing guidelines based on Fannie Mae's "Loan Quality Initiative". The lender was kind enough to send us a copy of Fannie Mae's Announcement SEL-2010-1 which includes FAQ's relating to this new initiative.
The letter describes new policies that this lender has put into place to enable them to have their pre-Funding Review Auditors review and examine the entire loan closing package, … (1 comments)

title fees: HUD REQUESTS PUBLIC COMMENTS ON "REQUIRED USE" - 06/18/10 07:39 AM
As you may know HUD has issued a request for public comments on the practice of "required use" in residential settlement transactions.  In particular HUD is seeking comments from the public relating to builders requiring that buyers use the builders selected lender, title agents, etc., In most instances the builder will offer an "incentive" to the buyer if they use the lender's affiliates. In fact the "incentives" as we all know are built into the cost of the home.  Therefore, these "incentives" do not truly exist, a potential RESPA violation. I would ask that you all read some of the comments … (0 comments)

title fees: MARYLAND NEW RATE INFORMATION FOR OLD REPUBLIC TITLE - 03/09/10 06:49 AM
Old Republic Title has announced a new rate increase for the State of Maryland that will become effective on April 1, 2010.  This rate increase is cosistent with the rate increases that were granted to all other major title underwriters here in Maryland.  On April 1, 2010 the rates will be published and I will provide the link to those rates as soon as they are available on-line. 
Of important note with the new increase is the information relating to re-issue rates.  As you all know a title policy MUST be given reissue rates, if applicable.   
The guidelines for qualification for reissue … (0 comments)

title fees: NEW FANNIE MAE ADDENDUM - 02/22/10 06:39 AM
I was very pleased to learn last Friday that Fannie Mae is using a new addendum for their REO properties.
As you may know all banks use their own addenda for REO sales.  For many years now Fannie Mae has been using basically the same addendum which stated that the buyer MUST use the seller's title agent and that the cost of transfer taxes and stamps would be bourne in full by the buyer.  Fannie Mae is in fact EXEMPT from the payment of transfer taxes and stamps, although some local jurisdictions push the entire burden on the buyer without taking … (15 comments)

 
CHARLENE PERRY, CLTP, Insuring the Past to Protect Your Future (Key Title Corporation)

CHARLENE PERRY, CLTP

Insuring the Past to Protect Your Future

Perry Hall, MD

More about me…

Key Title Corporation

Address: 35 Fulford Avenue, Bel Air, MD, 21014

Office: 410-803-4800

Mobile: (410) 456-7157

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