Identity Fraud Lenders Often HoldTitle Agents Liable for Not Detecting this Fraud at the Closing Table Identity fraud is often used in mortgage fraud schemes inorder to hide the identity of the perpetrators or to obtain a credit profilethat meets lender guidelines. Lenders give loans based on a borrower’s creditprofile, and fraudsters often use stolen identities as a means of acquiringproperty illegally. The increase in this type of activity is important to titleagents as lenders will often try to hold them liable for not detecting fraud atthe closing table. Lenders often will attempt to file a claim by alleging theagent failed to … (0 comments)
titlejunctionllc: Are You Choosing the Right Title Company?
- 08/26/15 11:46 PM
Are You Choosing the Right Title Company? In most cases, a person’s biggest investment takes place when buying a home. Though the reward within this milestone is wonderful, it takes time, research, and quite a bit of financing in order to get to this point. Wouldn’t you want to do everything you could to protect that? What if you purchased your home and found out that the seller was not legally able to sell you that home in the first place? The home is taken back and your savings are wiped away while you wind up with nothing. According to the American … (3 comments)
titlejunctionllc: Title Agents Remember FIRPTA for Properties with Foreign Sellers
- 08/20/15 12:08 AM
Title Agents Need to Remember FIRPTA When Dealing with Properties with Foreign Sellers Across the entire nation, the U.S. has undoubtedly remained one of the top destinations for foreign home buyers with over 6 percent of all existing home sales being accounted for. Foreign nations have tended to settle in communities that are relative in location or where roots already exist giving these areas like Florida and California, a more dense foreign population within the real estate market. According to the National Association of Realtors, the top five countries of buyer origin were Canada (23%), China (12%), Mexico (8%), India (5%) and … (1 comments)
Mortgage Lenders Recommended by Your Agent – To Use or Not? Let’s imagine that you’re a potential home buyer who has looked at a few properties that hold some real potential. Your real estate agent then recommends that you get pre-approved for a loan. He or she hands you a name and information of a lender they know, do you use it or toss it and find your own lender? It’s a reasonable question but use it! Here are a few reasons why you should take our word for it. Your Agent Is Not Making a Financial Gain – Unfortunately, it’s natural … (3 comments)
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