As you know, we are all under the gun to issue the lender its loan policy within the guidelines established by ALTA’s Best Practices. That means you all have to turn the final title opinion and premium around and we have to issue the policy and physically get it to the lender. Every day counts if we are going to meet (or surpass) expectations. That’s why we want to suggest a tool already at your disposal that can knock days off the process.
Are you ready? Wait for it… E-mail. In today’s fast-paced world we have many time-saving tools at our disposal. Why use snail mail when we can e-mail the policies to the various lenders? We are currently doing that with Wells Fargo and it works marvelously.
There is only one thing keeping us from e-mailing policies to each and every lender that we all work with… we have to know where to send it. We don’t mind compiling a mass list of e-mail addresses for each lender, we just need your help in doing so. If you could include an e-mail address to send the loan policy to on your final opinion, it will save all of us several days towards the 30 days they are giving us after closing to produce the policy.
We have already started seeing lenders filing claims with our Underwriters if they do not receive their policy in a timely fashion. Getting several more days to produce the policy and send it will go a long way to meeting our mutual obligations.
While you’re at it, if you want us to e-mail the owner’s policy, we can do that too. Just send us the e-mail addresses!
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Why can’t you iron a four-leaf clover?
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This was last month’s riddle and answer:
What did the boy pickle say to the girl pickle on Valentine’s day?
“YOU MEAN A GREAT DILL TO ME”
From time-to-time, we are asked to provide coverage over a violation of the set-backs. Such violations cover the gambit; front, side and rear set-backs. So. . .what can we cover and under what circumstances? The first issue to explore is the question of what constitutes a “violation”? Generally speaking, the abode itself must be encroaching over the set-back line for there to be a “violation”. That generally rules out any out-buildings, like unattached garages, storage sheds and pool houses. That would also generally exclude other structures, such as pools, patios, HVAC pads, fences, walls and the like. Lastly, it is not likely a violation if the obstruction is an uncovered/unenclosed deck or porch, as those structures generally do not constitute a portion of the abode itself. Now. . .all of this is subject to any definitions or other language contained within the Covenants and Restrictions (CCR’s) for the subdivision where the property is located. At the end of the day, the CCR’s will control in determining what is or is not an “encroachment” into the set-back(s).
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Welcome Baby Sloan
Congratulations to Jennifer and the
Sloan Josephine Conrad
Born: 3/13/2017 @ 11:35 am
Weighing 7 lbs, 6 oz and 19.5″ long
The family is doing great and big brother Hank is totally in love!
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