This page will help support you understanding all the rules and regulations for Agents regarding Title Insurance. If you need to Get a Quote or Place an Order please use the links provided below to access those forms. We look forward to working with you and your Buyer or Seller.
A closing statement form called the Closing Disclosure or CD is used for most loan applications. The lender, not the closing agent, may be preparing and delivering the CD.
The CD must be delivered to the buyer/consumer at least three business days prior to the scheduled closing date.
The closing agent must get information to the lender approximately 10 to 14 days prior to the closing date for completion of CD to meet the delivery requirement.
The closing agent will need your real estate company’s state license number and your individual real estate license number for the CD
The CD sent to the buyer/consumer will not include the “seller’s side” of the transaction.
You likely will not receive an advance copy of the CD before it is delivered to the buyer/consumer.
Even with the authorization of the borrower/seller to give a copy of the CD to you, the settlement agent would not be permitted to do so without the written approval of the lender since the CD is a loan document.
Changes to the CD after delivery to the buyer/consumer MAY trigger a new three-day waiting period if changes cause the Annual Percentage Rate to be inaccurate, the buyer changes loan product or a prepayment penalty is added.
The CD refers to Owner’s Title Insurance as “optional.” Ask an Old Republic Title agent or representative for more information on the benefits of an Owner’s Title Insurance Policy or see Old Republic Title’s “The Importance of an Owner’s Title Insurance Policy” resource.
The TRID Rule may affect the contract terms that you help negotiate for either the buyer or the seller.
What system do you have in place to communicate changes to the contract (after it is been signed) to the lender? Consider having a conversation with buyers about their need to respond immediately to lender requests and remind the seller they must follow the contract to the letter because not doing so may delay the closing.
Reprinted with permission from Old Republic Title
The BESTEST! No other Title Closer is more experienced and knowledgeable as Crystal! ALWAYS happily available for answers on files! Gosh, too many positive superlatives necessary than this space can hold! Thank you Crystal, Cindy and Teresa for all your grrreat service!, always!! — Realtor Judith Ann New
“Excellent title company and Cindy took really good care of us. Would recommend to anyone who needs a professional company for title work.” — Carl Marotzke
At Realty Title Solutions, we know that serving your clients and protecting their interests is your most important goal. As an authorized agent of Old Republic Title, we write policies for an underwriter with unsurpassed independent financial strength ratings, which reflect strong operating performance, secure claims-paying ability and financial stability, an assessment yet to be matched by any other title underwriter! What good would it be for your client to work with an insurer that cannot pay claims or is not financially secure? Thank you for putting your trust in us.