Difference between revisions of "DE Underwriting Summary"
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Revision as of 13:44, 19 October 2014
Contents
Search/Exam
- Minimum Search Requirements Reasonable search – customary 60 years
- Plant or other search restrictions Attorney certification
- Additional Requirements for REO Searches
- Foreclosure Checklist
- Special Searches Required (Code, HOA, Utilities)?
- Survey Requirements
- Owners – yes;
- Loan policy – no
UPL
- UPL Hot Button Issues Examination is UPL, closing is UPL
Vesting
Property Tax
Mortgage/Transfer Tax
Spousal Joinder Requirements/Homestead
Power Of Attorney
Construction Liens
Foreclosure Review
Instrument Requirements
Who May Serve As Trustee On Deed Of Trust
Time Limitations
- US Judgment Liens 20 years
- State Court Judgment Liens 10 years
- Federal Tax Liens 10 years (+ 30 days)
- State Tax Liens 20 years
- Estate Tax Lien 10 years
- State Inheritance Tax Liens
- Mechanics Liens 1 year
- Financing Statements
- Mortgages
- HOA Liens
- Condominium assessments
- Child Support Liens
