Background Image
Table of Contents Table of Contents
Previous Page  2 / 56 Next Page
Information
Show Menu
Previous Page 2 / 56 Next Page
Page Background

INTRODUCTION

Introduction. .................................................................................................................3

Important Contacts For Your Transaction..................................................................4

TITLE

The Title Insurance “Value Proposition”: 10 Reasons.................................................5

What is Title? - FAQ.....................................................................................................6

Why You Need Title Insurance - 21 Reasons.............................................................8

Life of a Title Search.....................................................................................................9

Title Policy Comparison Chart.................................................................................. 10

Homeowner’s Policy of Title Insurance.................................................................... 12

Homeowner’s Policy Additional Benefits. ................................................................ 13

What is the Title Commitment?................................................................................ 15

5 Common Ways To Hold Title............................................................................... 16

ID Affidavit - Why is it Needed? .............................................................................. 17

Vesting: Common Ways of Holding Title................................................................. 18

ESCROW

Escrow: FAQ.............................................................................................................. 21

The Escrow Process................................................................................................... 22

The Life of an Escrow................................................................................................ 24

Opening Escrow......................................................................................................... 26

Red Flags in the Escrow / Title Process.................................................................... 27

Other Parties to an Escrow Transaction................................................................... 30

The Loan Process. ..................................................................................................... 32

PMI “Private Mortgage Insurance” - FAQ................................................................. 33

TAXES

Taxes........................................................................................................................... 34

PATH Act................................................................................................................... 36

Loan FAQ................................................................................................................... 37

What is Payoff ............................................................................................................ 38

Property Tax - Annual Calendar............................................................................... 39

Closing Costs: What Buyers & Sellers Typically Pay For.......................................... 40

Consumer Financial Protection Bureau

Consumer Financial Protection Bureau (CFPB)....................................................... 43

What is Consumer Financial Protection Bureau? (CFPB)........................................ 44

Will The New CFPB Rule Delay My Closing?.......................................................... 46

Purchase Title / Escrow Order Workflow............................................................... 47

The New Closing Disclosure Explained................................................................... 48

TERMS

Glossary of Terms..................................................................................................... 52

2

© Ticor Title Company

TABLE OF CONTENT