hud1: Big changes that will impact your settlements - 06/02/15 05:44 AM
Big changes are on the way that will impact real estate agents, lenders, buyers and sellers alike. Come August 1, the HUD-1 is out and the Closing Disclosure form (CDF) is in.   
 
A new form inevitably means new procedures and deadlines to observe, which is why we've put together this list of things we think are most important to know about the new regulations. 
 
1.  The lender – not the settlement agent – will in most cases be preparing and delivering the CDF, which will be used for most loan applications taken for new mortgages after August 1, 2015.
 
2. The CDF must … (1 comments)

hud1: Help us make settlements easier; send comments today! - 11/06/12 12:00 AM
We're about to see some big changes regarding the delivery of HUD-1 Settlement Statements and Truth-in-Lending Disclosures, which could result in added cost and closing delays for homebuyers, if the Consumer Financial Protection Bureau's new rules go into effect as proposed.
The CFPB rule would merge the HUD-1 and TILA forms, which together total five pages, into a single five-page document known as a Closing Disclosure form. One of the options under the proposed rule would require lenders to prepare and deliver the Closing Disclosure to consumers instead of settlement companies.
Allowing this rule to go into effect will likely wind … (0 comments)

hud1: Owner's title insurance: Is it worth the price? - 07/03/12 01:20 AM
While a homebuyer is required to pay for the lender’s title insurance premium, the owner’s title insurance is optional to the homebuyer, and sometimes homebuyers who are looking to shave dollars off their closing costs consider opting out of the owner's title insurance policy.

They may feel having an owner's title insurance policy is not worth the expense.
A lot of misinformation about owner’s title insurance permeates the blogosphere and, in fact, one Washington DC metropolitan area real estate broker regularly advises homebuyers NOT to spend the extra dollars to purchase owner’s title insurance coverage. 
Most of the blog entries … (2 comments)

hud1: Say good-bye to the HUD-1 Settlement Statement - 06/29/12 01:01 AM
The Consumer Financial Protection Bureau (CFPB), by mandate under Dodd-Frank, will soon change our world once again. 
Just barely two years since the title and mortgage industry was turned upside-down with regulatory changes to the Truth-in-Lending Act (TILA) and the Real Estate Settlement Procedure Act (RESPA), the CFPB will be releasing its proposed forms and regulations next month to replace the HUD-1 Settlement Statement, Good Faith Estimate, and Truth-in-Lending Disclosure. 
These new forms will be known as the Loan Estimate and Settlement Disclosure Form.
On its snazzy website, CFPB states that the current 3-page HUD-1 settlement statement is replete with "... Technical and legal jargon ... that may … (108 comments)

 
Todd Ewing (Federal Title & Escrow Company)

Todd Ewing

Washington, DC

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Federal Title & Escrow Company

Address: 5335 Wisconsin Ave, NW , Suite 700, Washington, DC, 20015

Office: (202) 362-1500

Fax: (202) 362-5901

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