GA Operations Summary

Licensed Entity:

WFG NATIONAL TITLE INSURANCE COMPANY

• See Attached HUD Sample for Additional Information File:Georgia HUD-1.pdf

Banking Information

• 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

Escrow/Settlement

• 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

Audits

• Required No

Recording Process

• E-recording County list of e-recording attached
• Record before disbursement Disburse then record
• Special recording procedure

Recording/Document Requirements

• Marital Status Stated No
• Transfer Tax Yes
• Mortgage Tax Yes
• Address for grantor/grantee/property
• Witnesses 2 (including the notary as 1 witness) Cannot be acknowledged by Notary
• 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;

Document Types

• Conveyance Warranty Deed, Special Warranty Deed,
• Security Instrument Security Deed
• Release Cancellation of Security Deed or Quit Claim Deed

Tenancies

• Tenants in Common YES - presumed
• Joint Tenants YES
• Tenancy by Entireties NO
• Community Property NO
• Homestead NO
• Joinder of Non-titled Spouse NO

Taxes

• Taxes Levied Varies by County
• Taxes due Varies by County
• Delinquent Varies by County

Commitment/Policy Special Requirements

• Who can sign Commitment/Policy
• Other

Post Closing Requirements

• Recon follow up required