GA Operations Summary

Licensed Entity:

WFG NATIONAL TITLE INSURANCE COMPANY

Bank account NO – Fund through GA Attorney
Good Funds Law N/A must fund through GA Attorney
Disbursements Requirements Must disburse through GA Attorney
Special Bank Requirements (IOLTA/IOTA/OTHER or account specific to that state’s funds) GA Attorney IOLTA Account Required. APPROVED LAW FIRM IS __________; USE OF ANY OTHER LAW FIRM REQUIRES WRITTEN CONSENT FROM THE COMPLIANCE DEPARTMENT

Who can prepare the HUD GA Attorney
Who can sign the HUD (EO/LTP/Attorney) GA Attorney
Who orders hazard insurance Customary -
When is transaction consummated for new HUDS
Record before/after disburse After disbursement
Filed/restricted escrow rates No
Record retention requirements
Is an attorney involved in the closing Yes, GA licensed attorney must handle closing/signing
Who can handle loan document signing GA licensed attorney
Doc Prep Restrictions Doc Prep at no charge is not UPL but dangerous - GA licensed attorney must prepare documents
Use Escrow Instructions or not No
Use Estimated HUD or Final Final
Pass-thru charges Yes
Rates Inclusive or not Not inclusive
Up Charging Not prohibited
Junk Charges Not prohibited
Special HUD Requirements GA licensed attorney must be settlement agent
Special Disclosures None
CPL Yes – MAY ONLY be issued to the Georgia Agent disbursing funds
UPL Issues Yes – Closing is the unauthorized practice of law
Joinder of non-titled spouse No
Survey Required No

Marital Status Stated -- No
Transfer Tax -- Yes
Mortgage Tax --Yes at $1.50 for every five hundred dollars of consideration on face amount of the note. The tax is paid to the Clerk of Superior Court at the time of recording the security instrument. All security deeds are required to show their maturity date.
Address for grantor/grantee/property
Witnesses -- 2 (notary may serve as 1 witness)
Names typed/printed -- YES
Prepared by/return to -- Prepared by with top 3” of 1st page with name and signature of preparing attorney; Return to address on 1st page is required
Notary Stamp/requirements -- Stamp or seal with date commission expires
Parcel or tax index number
Recitation of Consideration
Derivation Clause
Corporate Signatures/Attestation
Ink Color/Font
Legal Description
Margins
Other Special Recording: -- Transfer Tax Declaration form required for recording deeds;
Statewide recording fees $10.00 for the first page; $2 for each additional page and a $2 cross-reference fee per instrument. Cancellations are $10.00 and assignments are $5.00 for the first page. Superior Court Clerks do not generally rush record documents filed for record in this State.

Who can sign Commitment/Policy -- Attorney Agent/ Approved Attorney Agent, The attorney does not need to reside in the State of Georgia but must be a member of the State Bar of Georgia and in good standing
Other

O.C.G.A. section 48-7-128 requires a withholding of 3 percent on sales or transfers of real property by non-residents of Georgia.