Abfields at 22:48, 14 December 2014

2014-12-14T22:48:03Z

Abfields: Created page with "==Licensed Entity:== See Attached HUD Sample for Additional Information ==Banking Information== Bank account <> *Checks stale dated af..."

2014-10-19T17:25:29Z

Created page with "==Licensed Entity:== *See Attached HUD Sample for Additional Information ==Banking Information== *Bank account <<INSERT ACCOUNT #/ROUTING #/BANK NAME>> *Checks stale dated af..."

New page

==Licensed Entity:==
*See Attached HUD Sample for Additional Information
==Banking Information==
*Bank account <<INSERT ACCOUNT #/ROUTING #/BANK NAME>>
*Checks stale dated after ___ days of issuance
*Good Funds Law Yes, no de minimus
*Disbursements Requirements <<INSERT IF WFG REQUIRES CD?>>
*Special Bank Requirements (IOLTA/IOTA/OTHER or account specific to that state’s funds) IOTA if attorney is disbursing
==Escrow/Settlement ==
*Who can prepare the HUD Not restricted
*Who can sign the HUD (EO/LTP/Attorney) Not restricted
*Who orders hazard insurance Customary -
*When is transaction consummated for new HUDS
*Record before/after disburse Disburse then record
*Filed/restricted escrow rates No
*Record retention requirements 10 years
*Is an attorney involved in the closing Traditionally, attorney’s handle closings;
*Who can handle loan document signing Traditionally – attorneys do but not required
*Doc Prep Restrictions Doc Prep is UPL
*Use Escrow Instructions or not No
*Use Estimated HUD or Final Final
*Pass-thru charges Not restricted
*Rates Inclusive or not Not
*Up Charging Not restricted
*Junk Charges Not restricted
*Special HUD Requirements None
*Special Disclosures None
*CPL
*UPL Issues Only attorneys can be agents; doc prep is UPL
*Joinder of non-titled spouse No
*Survey Required
**Owners – affidavit required;
**Loan policy – no
==Audits==
*Required No
==Recording Process==
*E-recording
*Record before disbursement Disburse then record
*Special recording procedure Additional Docs required on Deeds
==Recording/Document Requirements==
*Marital Status Stated Not required
*Transfer Tax Yes
*Mortgage Tax No
*Address for grantor/grantee/property Grantee required
*Witnesses 2 required
*Names typed/printed
*Prepared by/return to Not required
*Notary Stamp/requirements Attorney acknowledgment must show title
*Parcel or tax index number Not required
*Recitation of Consideration Not required
*Derivation Clause Not Required
*Corporate Signatures/Attestation
*Ink Color/Font Black or Blue; 10 pt minimum
*Legal Description
*Margins 3.5” x 5” top right; 1” all others
*Other Special Recording: Real Estate tax return doc for deeds – recording in each town clerk’s office – not county
==Document Types==
*Conveyance
*Security Instrument Mortgage
*Release
==Tenancies==
*Tenants in Common Yes
*Joint Tenants Yes
*Tenancy by Entireties Not recognized
*Community Property No
*Homestead No
*Joinder of Non-titled Spouse No
==Taxes==
*Taxes Levied
*Taxes due 7/1 and 1/1
*Delinquent
==Commitment/Policy Special Requirements==
*Who can sign Commitment/Policy CT Attorney only
*Other CT Attorney only
==Post Closing Requirements==
*Recon follow up required

@@ Line 1: / Line 1: @@
-==Licensed Entity:==
+==Licensed Entity: ==
 *See Attached HUD Sample for Additional Information
 ==Banking Information==
-*Bank account	<<INSERT ACCOUNT #/ROUTING #/BANK NAME>>
+*Bank account -- <<INSERT ACCOUNT #/ROUTING #/BANK NAME>>
-*Checks stale dated after 	___ days of issuance
+*Checks stale dated after  -- ___ days of issuance
-*Good Funds Law	Yes, no de minimus
+*Good Funds Law -- Yes, no de minimus
-*Disbursements Requirements	<<INSERT IF WFG REQUIRES CD?>>
+*Disbursements Requirements -- <<INSERT IF WFG REQUIRES CD?>>
-*Special Bank Requirements (IOLTA/IOTA/OTHER or account specific to that state’s funds)	IOTA if attorney is disbursing
+*Special Bank Requirements (IOLTA/IOTA/OTHER or account specific to that state’s funds) -- IOTA if attorney is disbursing
-==Escrow/Settlement ==
+==Escrow/Settlement==
-*Who can prepare the HUD	Not restricted
+*Who can prepare the HUD -- Not restricted
-*Who can sign the HUD (EO/LTP/Attorney)	Not restricted
+*Who can sign the HUD (EO/LTP/Attorney) -- Not restricted
-*Who orders hazard insurance	Customary -
+*Who orders hazard insurance -- Customary -
-*When is transaction consummated for new HUDS
+*When is transaction consummated for new HUDS --
-*Record before/after disburse	Disburse then record
+*Record before/after disburse -- Disburse then record
-*Filed/restricted escrow rates	No
+*Filed/restricted escrow rates -- No
-*Record retention requirements	10 years
+*Record retention requirements -- 10 years
-*Is an attorney involved in the closing	Traditionally, attorney’s handle closings;
+*Is an attorney involved in the closing -- Traditionally, attorney’s handle closings;
-*Who can handle loan document signing	Traditionally – attorneys do but not required
+*Who can handle loan document signing -- Traditionally – attorneys do but not required
-*Doc  Prep Restrictions	Doc Prep is UPL
+*Doc  Prep Restrictions -- Doc Prep is UPL
-*Use Escrow Instructions or not	No
+*Use Escrow Instructions or not -- No
-*Use Estimated HUD or Final	Final
+*Use Estimated HUD or Final -- Final
-*Pass-thru charges	Not restricted
+*Pass-thru charges -- Not restricted
-*Rates Inclusive or not	Not
+*Rates Inclusive or not -- Not
-*Up Charging 	Not restricted
+*Up Charging  -- Not restricted
-*Junk Charges	Not restricted
+*Junk Charges -- Not restricted
-*Special HUD Requirements	None
+*Special HUD Requirements -- None
-*Special Disclosures	None
+*Special Disclosures -- None
-*CPL
+*CPL --
-*UPL Issues	Only attorneys can be agents; doc prep is UPL
+*UPL Issues -- Only attorneys can be agents; doc prep is UPL
-*Joinder of non-titled spouse	No
+*Joinder of non-titled spouse – Not Required
-*Survey Required
+*Survey Required -- Owners – affidavit required; Loan policy – no
 ==Audits==
-*Required	No
+*Required -- No
 ==Recording Process==
-*E-recording
+*E-recording  --
-*Record before disbursement	Disburse then record
+*Record before disbursement -- Disburse then record
-*Special recording procedure	Additional Docs required on Deeds
+*Special recording procedure -- Additional Docs required on Deeds
 ==Recording/Document Requirements==
-*Marital Status Stated	Not required
+*Marital Status Stated -- Not required
-*Transfer Tax	Yes
+*Transfer Tax – Yes  called a conveyance tax. State portion of the conveyance tax is uniform throughout the State but vary depending on the type of property. Refer to Conn. Gen. Stat. [http://www.cga.ct.gov/2011/pub/chap223.htm §12-494 et seq.], and Department of Revenue Services Form OP-236.
-*Mortgage Tax	No
+The municipal portion of the conveyance tax varies across the State. This rate is available by contacting the town clerk’s office.
-*Address for grantor/grantee/property	Grantee required
+*Mortgage Tax -- No
-*Witnesses 	2 required
+*Address for grantor/grantee/property -- Grantee required
-*Names typed/printed
+*Witnesses  -- 2 required + Notary – Deed & Mortgage
-*Prepared by/return to	Not required
+*Names typed/printed --
-*Notary Stamp/requirements	Attorney acknowledgment must show title
+*Prepared by/return to -- Not required
-*Parcel or tax index number	Not required
+*Notary Stamp/requirements -- Attorney acknowledgment must show title
-*Recitation of Consideration	Not required
+*Parcel or tax index number -- Not required
-*Derivation Clause	Not Required
+*Recitation of Consideration -- Not required
-*Corporate Signatures/Attestation
+*Derivation Clause -- Not Required
-*Ink Color/Font	Black or Blue; 10 pt minimum
+*Corporate Signatures/Attestation --
-*Legal Description
+*Ink Color/Font -- Black or Blue; 10 pt minimum
-*Margins	3.5” x 5” top right; 1” all others
+*Legal Description  --
-*Other Special Recording:	Real Estate tax return doc for deeds – recording in each town clerk’s office – not county
+*Margins -- 3.5” x 5” top right; 1” all others
 ==Document Types==
-*Conveyance
+*Conveyance --
-*Security Instrument	Mortgage
+*Security Instrument -- Mortgage
-*Release
+*Release --  * Conn. Gen. Stat. § 49-8a permits the recording of an affidavit by an attorney or an officer of a title insurer to release a lien. Specific requirements must be met.
 ==Tenancies==
-*Tenants in Common	Yes
+*Tenants in Common -- Yes
-*Joint Tenants	Yes
+*Joint Tenants -- Yes
-*Tenancy by Entireties	Not recognized
+*Tenancy by Entireties -- Not recognized
-*Community Property	No
+*Community Property -- No
-*Homestead	No
+*Homestead -- No
-*Joinder of Non-titled Spouse	No
+*Joinder of Non-titled Spouse – Not required
 ==Taxes==
-*Taxes Levied
+*Taxes Levied  --
-*Taxes due	7/1 and 1/1
+*Taxes due -- 7/1 and 1/1
-*Delinquent
+*Delinquent --
 ==Commitment/Policy Special Requirements==
-*Who can sign Commitment/Policy	CT Attorney only
+*Who can sign Commitment/Policy -- CT Attorney only
-*Other	CT Attorney only
+*Other -- CT Attorney only
 ==Post Closing Requirements==
-*Recon follow up required
+*Recon follow up required –

CT Operations Summary - Revision history

Abfields at 22:48, 14 December 2014

Abfields: Created page with "==Licensed Entity:== *See Attached HUD Sample for Additional Information ==Banking Information== *Bank account <> *Checks stale dated af..."

Abfields: Created page with "==Licensed Entity:== See Attached HUD Sample for Additional Information ==Banking Information== Bank account <> *Checks stale dated af..."