Does E-Closing Actually Reduce Fraud And Identity Theft?

The federal E-Sign Act (ESA), adopted in 2000, established that electronic signatures are legally valid and enforceable as part of a commercial transaction. The act created a general definition of an electronic signature as, “an electronic sound, symbol, or process attached to or logically associated with a contract or other…

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How Hackers Target Real Estate Transactions

Hackers have found far too many ways to wreak havoc on financial transactions in general, and more specifically in real estate transactions. Understanding what vulnerabilities these cybercriminals are exploiting to gain access to confidential information and to trick homebuyers into sending them large sums of money is the first step…

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Cutting Operation Costs That Can Affect Real Estate Transactions

As  anyone involved in the real estate industry knows, operation costs can easily get out of control, thanks to inefficiency and dealing with disparate, sometimes redundant, systems that are often based on fallible manual document preparation and poor communication. A recent study by Accenture found that the title production process…

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Improving Mortgage Industry Cyber Security Through Secure Communications

Improving Mortgage Industry Cyber Security

Cyber Crime, including phishing and hacking are nothing new, but in recent years, the amount of Cyber Crime specifically targeting real estate transactions has skyrocketed. In May 2015, the National Association of Realtors (NAR) issued an alert to its members warning of variations on a fraud scheme in which hackers…

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Proposed Changes To TRID Aim To Make Implementation Simpler

When the TILA-RESPA Integrated Disclosure Rule (TRID, a.k.a. the Know Before You Owe mortgage rule), went into effect in October of 2015, its intent was to create an environment of informed consumers and to prevent buyers from biting off more than they could chew in the real estate market. The…

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3 Rules to Follow When Making the Right Software Selection for Your Practice

Making the Right Software Selection for Your Practice

Making a decision on software to help run your family law and real estate closing practice is an important decision that will have an effect on your process. When making an educated comparison on which software best fits your needs, it’s key to analyze certain factors that can help you…

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New VA Loan Origination Charge Itemization – Whose Job is it?

According to the VA Circular, lenders issuing VA loans may disclose the fees. Lenders may itemize the charges in the empty 800 lines of the HUD-1 or lenders must provide a separate origination statement. The new origination statement must indicate the purpose of the charge and the amount.

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