From the category archives:

Title Insurance

In Search Of A “Good Faith Accurate,” Not Just A Good Faith Estimate: A Senior Loan Officer’s Review Of The New 2010 RESPA Rules

by Richard D. Vetstein, Esq. January 6, 2010 Closings

I’m pleased to welcome another guest blogger, David M. Gaffin, a licensed Loan Officer with Greenpark Mortgage Corp. of Needham MA. Dave is licensed to originate in MA, NH and FL. You can visit him at Greenpark Mortgage or through his LinkedIn profile.
The new 2010 RESPA rules are all the rage right now. So I’m [...]

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Ibanez Foreclosure Case Heading To Massachusetts High Court?

by Richard D. Vetstein, Esq. February 22, 2010 Foreclosure

For those of you following the controversial U.S. Bank v. Ibanez case, which invalidated potentially thousands of foreclosures across the state, both sides last week asked the Massachusetts Supreme Judicial Court to take the case — as I originally predicted. The SJC’s acceptance of the case would cut months to years off the normal appellate [...]

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New RESPA Rules 2010: Disclosure of Settlement Services, Closing Attorneys’ Fees, And Title Insurance

by Richard D. Vetstein, Esq. January 3, 2010 Closings

In this post, I’ll discuss a very important issue to lenders, closing attorneys and borrowers alike: how the new RESPA rules handle the disclosure of closing attorney fees/costs and title insurance.
The new RESPA rules significantly change the way lenders must disclose settlement services, in particular closing attorneys’ fees, and title insurance. Generally, under the new [...]

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Ibanez Ruling Foreclosure Update: Nothing Much To Report

by Richard D. Vetstein, Esq. December 23, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
I’ve been asked several times recently for an update on the status of Land Court judge Keith Long’s controversial ruling in U.S. Bank v. Ibanez, which invalidated thousands of foreclosures across Massachusetts. Click here for my prior post on the case.
Unfortunately for those affected by the decision, not [...]

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RESPA Update: HUD Issues New Settlement Cost Booklet and Powerpoint Presentation

by Richard D. Vetstein, Esq. December 21, 2009 Condominium Law

With 11 days and counting until all lenders and closing attorneys must be in compliance with the new RESPA requirements and the new Good Faith Estimate (GFE) and HUD-1 Settlement Statement, HUD has released two helpful documents:

Shopping For Your Home Loan: HUD’s Settlement Cost Booklet. Loan originators are required to provide consumers with a copy [...]

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Are You Ready For Some RESPA Reform? Part I, An Overview Of The New Regulations

by Richard D. Vetstein, Esq. November 17, 2009 Closings

New, sweeping changes regulating how lenders, closing attorneys and title companies disclose loan and closing costs are set to go into effect January 1, 2010. The new regulations are part of a long awaited reform to the 30 year old Real Estate Settlement Practices Act known as RESPA aimed at providing greater transparency and fostering [...]

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HUD Announces Delay In Enforcement Of New RESPA Rules For 120 Days

by Richard D. Vetstein, Esq. November 14, 2009 Closings

For my entire series on the new 2010 RESPA rules, look to the right under “Spotlight On: RESPA Reform” or click here.
The U.S. Department of Housing and Urban Development (HUD) announced on Friday that it will not enforce for a 120 day period new, sweeping regulatory changes to the Real Estate Settlement Procedures Act (RESPA) [...]

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Lenders To Appeal Controversial Ibanez Foreclosure Ruling Of Massachusetts Land Court

by Richard D. Vetstein, Esq. November 3, 2009 Foreclosure

Banker and Tradesman is reporting that Wells Fargo and U.S. Bank will appeal the controversial U.S. Bank v. Ibanez Massachusetts Land Court decision that stung the lenders earlier this year by invalidating two foreclosures in Springfield because of improperly recorded mortgage assignments.
Lenders filed the appeal on Oct. 29, according to Lawrence Scofield, a senior real [...]

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Massachusetts Land Court Reaffirms Controversial Ibanez Ruling Invalidating Thousands Of Foreclosures

by Richard D. Vetstein, Esq. October 14, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
Today, Massachusetts Land Court Judge Keith Long reaffirmed his controversial ruling made back in March 2009 that invalidated foreclosure proceedings involving two Springfield homes because the lenders did not hold clear titles to the properties at the time of sale. A copy of the decision can be found [...]

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Electronic Real Estate Closings (E-Closings): The Future Of The Real Estate Closing Industry

by Richard D. Vetstein, Esq. September 25, 2009 Closings

An excited young couple about to close on their first home walk into into the closing attorney’s office. The day before they received via secure email all of the loan documents to review and approve with their personal attorney. The closing attorney arrives without any paper, armed only with a laptop attached to a digital [...]

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Title Insurance Demystified: Do Homeowners Really Need It?

by Richard D. Vetstein, Esq. August 11, 2009 Massachusetts Real Estate Law

Title insurance is an absolute necessity in every real estate conveyance transaction. The problem is that most home buyers don’t know what title insurance is or what it covers, and only see it for the first time on the closing settlement statement. Closing attorneys and title insurance companies need to do a better job [...]

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Ibanez Update: Massachusetts Land Court Decision Invalidates Foreclosures Based On Post-Sale Assignments

by Richard D. Vetstein, Esq. August 27, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
Breaking News (10/14/09)–Land Court Reaffirms Ruling Invalidating Thousands of Foreclosures. Click here for the updated post.

In late March of this year in the case of U.S. Bank v. Ibanez, Massachusetts Land Court Judge Keith C. Long issued one of the most controversial rulings in recent years which has [...]

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