Preparing for August 1st Changes in Real Estate Closings

Consumer Financial Protection BureauWith the rollout approaching on August 1st, we will now be required to show contact information for all parties involved on the Closing Disclosure Form (formerly called the Closing Statement, Settlement Statement, or HUD).  This will include State License ID numbers for Listing and Selling Agents.

To assist us in the transition of adding this required information by the Consumer Financial Protection Bureau to the Closing Disclosure Form, we will be sending out revised commission request forms. Our new commission verification form will have a line for agents to fill in with their State License id number.

Please note that Access Title Agency has encrypted email service to ensure that you and your client’s private or sensitive information does not get into the wrong hands.  Make sure that your Settlement provider is implementing recommended “Best Practices” and is prepared for a seamless transition in August.

Access Title Agency is here to assist you with these changes and to keep you informed.  Feel free to contact us if we can present to your group!

Unable to write your name?

When a competent grantor, who is unable to write, executes a deed using a mark, an affidavit should be obtained from the witnesses, stating which of the following:
I. The contents of the deed were read to the grantor.
II. The grantor, by making the mark, consented to the effect of the deed.
III. The mark was made voluntarily.
IV. The mark was made using an “X”.

The answer is I, II, III

For more information on the proper Notarization of someone signing by a mark, please see the attached link http://members.usnotaries.net/news.asp?AssetID=600