Tidal Title, LLC Jacksonville Florida Title and Escrow
New 2009 RESPA rules may have an effect on some sort of investors, and lenders, and borrowers, and purchasers. These changes took effect July 30, 2009.
1. The earliest any home purchase can close is 7 days after the home buyer is issued their initial mortgage disclosures from the lender.
2. Upfront fees can not be collected by the lender (except for purchasing credit reports) until the initial disclosures are received.
3. The Homebuyer MUST be issued a copy of their appraisal 3 days prior to closing. But, the Homebuyer may waive this requirement in writing.
4. Any increase of more than .125% in the Annual Percentage Rate from the initial truth in lending disclosures requires that the truth in lending statement (TIL) be revised and reissued to the homebuyer 3 days prior to closing.
Now it is important to make sure all fees and rates are up front, or it can cause a 3 day delay in closing! Great news for buyers.
What impacts the APR?
- Unlock Rate
- Loan Amount Change
- Product Change
- Change in Closing Date
- Changes to fees (only settlement fees)
These new restrictions help the homebuyer get the best information possible, and the most for their credit.
Tidal Title LLC. Funny name, Fast closings. Your Jacksonville Title Company
Labels: 2009, closings, laws, RESPA, rules, TIL, title insurance, Truth in Lending
May to June Special!
Contact Doug or Jennifer at
Good on all Contracts brought in before through
June 30th, 2009
Labels: Closing Special
Tidal Title will be co-hosting an open house with Affinity Law Firm at our office, celebrating the expansion of our office.
The open house is open to everyone who may be interested in our closing services, or has ever closed with us in the past.
When: Thursday, April 2nd, 2009 at 5:00 pm to 8:00 pm.
Where: 3947 Boulevard Center Drive, Suite 107, Jacksonville 32207.
We hope to see you there!
Tidal Title will be sponsoring the Putting Green at the WCR Golf Tournament
, March 19th, 2009 at the Deer Creek Country Club. Click the above link for more information. Tidal Title will be handing out Golf Tees and water to the thirsty realtors of Jacksonville.
Contact Jennifer at 904-738-8925
Good on all Contracts brought in before
May 15, 2009