Monday, November 24, 2008
Downtown Dollar or Le$$ Days in Baltimore
Looking for something to do with friends and family without emptying your wallet? Baltimore's Downtown Partnership has announced its annual Dollar (or Less) Days December 6th and 7th. Click here for details and participating attractions.
Monday, November 17, 2008
Changes to Short Sale Processing Unit
We are happy to announce a change in our Short Sale Processing Unit's handling of short sale transactions. Effective Monday November 24, 2008, the current fee of $195 plus $100 upon closing will no longer be charged to process your Short Sale transaction, provided we are the designated settlement agent for buyers and sellers.
We will cease processing transactions where we only represent sellers and buyers settle with another settlement company. This will permit us to better serve you by allowing us to dedicate our resources where they are truly needed.
We will be provide future updates outlining the tasks associated with processing a short sale but very little has changed in terms of the mechanical side of processing. This change will not affect any files that are in progress nor any files we open between now and the end of this week.
If you have any questions, please feel free to contact Harry Yazbek or Penny Ross.
We will cease processing transactions where we only represent sellers and buyers settle with another settlement company. This will permit us to better serve you by allowing us to dedicate our resources where they are truly needed.
We will be provide future updates outlining the tasks associated with processing a short sale but very little has changed in terms of the mechanical side of processing. This change will not affect any files that are in progress nor any files we open between now and the end of this week.
If you have any questions, please feel free to contact Harry Yazbek or Penny Ross.
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
http://www.masettlement.com/
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
http://www.masettlement.com/
MASS Welcomes Jennifer Daymude
Mid-Atlantic Settlement Services is happy to announce that Jennifer Daymude joined our company as a Title Service Representative starting today. Jennifer will cover real estate and lender offices in Alexandria, Springfield and Arlington, Virginia.
Jennifer started in the title industry in 1998 working for a local attorney and handled various tasks associated with the settlement process. Jennifer has since worked for reputable settlement companies acquiring precious experience and developing relationships.
Jennifer’s enthusiastic attitude, excellent customer service skills, along with her technical knowledge have allowed her to stand out as a well respected person in this industry. Jennifer has extensive experience in REO processing and closing, Short Sale processing and closing, as well as “conventional” transactions.
Jennifer is committed to providing excellent customer service and is extremely excited about this opportunity with our company. Jennifer’s contact information including email address and cell phone will be distributed as soon as they are set-up.
Please help me welcome Jennifer Daymude to our team!
Jennifer started in the title industry in 1998 working for a local attorney and handled various tasks associated with the settlement process. Jennifer has since worked for reputable settlement companies acquiring precious experience and developing relationships.
Jennifer’s enthusiastic attitude, excellent customer service skills, along with her technical knowledge have allowed her to stand out as a well respected person in this industry. Jennifer has extensive experience in REO processing and closing, Short Sale processing and closing, as well as “conventional” transactions.
Jennifer is committed to providing excellent customer service and is extremely excited about this opportunity with our company. Jennifer’s contact information including email address and cell phone will be distributed as soon as they are set-up.
Please help me welcome Jennifer Daymude to our team!
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
CE Training Schedule for Week of November 17
Below is the schedule for this week (November 17th through 21st) for Continuing Education classes for real estate agents in Maryland, DC and Virginia.
When: Tuesday, November 18th at 10:00 AM
What: Maryland Ethics
Where: Century 21, The Real Estate Centre, Gaithersburg, MD
How many credit hours: 3
Contact: Attorney Scott Mozingo
When: Tuesday, November 18th at 10:00 AM
What: Real Property Rights / Public Records
Where: Coldwell Banker Residential Brokerage, 1071 Rte. 3 N, Suite 101, Gambrills, MD
How many credit hours: 3
Contact: Attorney Kathleen Dartez
When: Thursday, November 20th at 10:00 AM
What: The Settlement Process
Where: Coldwell Banker Residential Brokerage, 545 A E. Market St., Leesburg, VA
How many credit hours: 2
Contact: Harry Yazbek
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
http://www.masettlement.com/
When: Tuesday, November 18th at 10:00 AM
What: Maryland Ethics
Where: Century 21, The Real Estate Centre, Gaithersburg, MD
How many credit hours: 3
Contact: Attorney Scott Mozingo
When: Tuesday, November 18th at 10:00 AM
What: Real Property Rights / Public Records
Where: Coldwell Banker Residential Brokerage, 1071 Rte. 3 N, Suite 101, Gambrills, MD
How many credit hours: 3
Contact: Attorney Kathleen Dartez
When: Thursday, November 20th at 10:00 AM
What: The Settlement Process
Where: Coldwell Banker Residential Brokerage, 545 A E. Market St., Leesburg, VA
How many credit hours: 2
Contact: Harry Yazbek
Should you want additional training scheduled in your area, please do not hesitate to contact Harry Yazbek (DC and Northern Virginia), Dan Coleman (Maryland, including Greater Baltimore) or Derek Massey.
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
http://www.masettlement.com/
Saturday, November 15, 2008
You be the Judge! Is this RESPA compliant?
Regardless of the type of market you are in, all loan officers, real estate agents and settlement agents need to be mindful of the Real Estate Settlement Procedures Act (RESPA), particularly with respect to Section 8 regarding kickbacks. Take the following quiz, and match with the answers below.
YOU BE THE JUDGE! Is this RESPA Compliant? (Answers below)
1. Lender keeps all business cards from every new application and uses them to send email newsletter of real estate issues to real estate agents?
2. Lender puts a business card from every real estate agent who sends a deal into Fishbowl for Fancy Dinner for 10?
3. Attorney has Fishbowl at Mortgage Lenders regional convention exhibit to win Big Bertha?
4. Lender visits friendly real estate Agent at open house; brings along coffee and Danish for two?
5. Lender provides catered luncheon for all agents in office every Friday?
6. Attorney brings in cold cuts and soda to real estate agents while conducting "Lunch and learn" about Condominium law?
7. Attorney pays real estate agent for Conference room rental in RE agent's office to conduct closings?
8. Lender pays Originator $100 for every 'pre-title order' she completes at time of pre-qualification?
9. Attorney pays all Lender's costs for "Staff Appreciation" party, but does not attend?
10. Real estate agent, Lender and Attorney use same ad to promote "local business' partnership?
YOU BE THE JUDGE! Is this RESPA Compliant? (Answers below)
1. Lender keeps all business cards from every new application and uses them to send email newsletter of real estate issues to real estate agents?
2. Lender puts a business card from every real estate agent who sends a deal into Fishbowl for Fancy Dinner for 10?
3. Attorney has Fishbowl at Mortgage Lenders regional convention exhibit to win Big Bertha?
4. Lender visits friendly real estate Agent at open house; brings along coffee and Danish for two?
5. Lender provides catered luncheon for all agents in office every Friday?
6. Attorney brings in cold cuts and soda to real estate agents while conducting "Lunch and learn" about Condominium law?
7. Attorney pays real estate agent for Conference room rental in RE agent's office to conduct closings?
8. Lender pays Originator $100 for every 'pre-title order' she completes at time of pre-qualification?
9. Attorney pays all Lender's costs for "Staff Appreciation" party, but does not attend?
10. Real estate agent, Lender and Attorney use same ad to promote "local business' partnership?
Should you have any questions about RESPA, please do not hesitate to call or email one of our seven attorneys. If we do not know the answer right away, we'll be happy to research and get right back to you!
Attorneys: Derek Massey, Kathleen Dartez, Lee Snyder, Carol Ann Wildesen, Eric Oberer, Scott Mozingo and Elisa Kerr.
Answers: (1) Y (2) N (3) Y (4) Y (5) N (6) Y (7) Y (8) N (9) N (10) Y
NOTE: While the scenarios and the answers may be gray and represent a fuzzy rather than fine line between abiding by and violating RESPA, these are the answers as best defined by HUD today.
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
RESPA quiz source: Mortgage Bankers Association of Maine
Thursday, November 13, 2008
Local Company, National Scope
All real estate is local...unless you need a service in another county or state. As an agent or loan officer, you know your local title folks. You see them in your office, on the soccer fields, or at church. You know the local customs, and if you need more detail on a particularly tricky transaction, you know exactly who to call.
At Mid-Atlantic Settlement Services, we get the local thing... Ask a national title company what a Maryland ground rent redemption is and they will get halfway through their underwriting manual before they give up. They may not know you need to record in Virginia before disbursing funds. Deed of Trust? Is that a handshake agreement where no documents need to be signed because the parties trust each other? We can answer those questions without looking them up.
As "local" as we are, we are more. As a Title Resource Group (TRG) company, we are one of 25+ title and escrow companies disbursed across the U.S. If we don't have a direct operation, we have an affiliated company or law firm that can handle the transaction.
Have a Maryland, Northern Virginia or DC closing? Give us a call? Need help somewhere else? Give us a call, or click here for a map of all of our companies.
At Mid-Atlantic Settlement Services, we get the local thing... Ask a national title company what a Maryland ground rent redemption is and they will get halfway through their underwriting manual before they give up. They may not know you need to record in Virginia before disbursing funds. Deed of Trust? Is that a handshake agreement where no documents need to be signed because the parties trust each other? We can answer those questions without looking them up.
As "local" as we are, we are more. As a Title Resource Group (TRG) company, we are one of 25+ title and escrow companies disbursed across the U.S. If we don't have a direct operation, we have an affiliated company or law firm that can handle the transaction.
Have a Maryland, Northern Virginia or DC closing? Give us a call? Need help somewhere else? Give us a call, or click here for a map of all of our companies.
Mid-Atlantic Settlement Services
11350 McCormick Road Executive Plaza III, Suite 200
Hunt Valley, MD 21031
(800) 530-9372
Fax (800) 710-9918
Friday, November 7, 2008
CE Classes for the Week of November 10th
Below is the schedule for next week (November 10th through 14th) for Continuing Education classes for real estate agents in Maryland, DC and Virginia.
When: Tuesday, November 11th at 10:00 AM
What: Maryland Ethics
Where: Coldwell Banker Residential Brokerage, 10244 River Road, Potomac, MD
How many credit hours: 3
Contact: Harry Yazbek
When: Wednesday, November 12th at 1:00 PM
What: Virginia Ethics
Where: Coldwell Banker Residential Brokerage, 3401 Commission Ct. Ste 101, Lake Ridge, VA
How many credit hours: 3
Contact: Scott Mozingo
When: Thursday, November 13th at 11:00 AM
What: Contracts to Closing
Where: Coldwell Banker Residential Brokerage, 1606 17th St, NW, Washington, DC
How many credit hours: 2
Contact: Harry Yazbek
Should you want additional training scheduled in your area, please do not hesitate to contact Harry Yazbek, Dan Coleman or Derek Massey.
As another reminder, we currently have an opening for a Title Service Representative (TSR) to cover several real estate offices in Northern Virginia. We offer a competitive salary and incentive plan, and a top-notch team environment. The posting for the job can be find here, but also feel free to email Harry or Derek.
When: Tuesday, November 11th at 10:00 AM
What: Maryland Ethics
Where: Coldwell Banker Residential Brokerage, 10244 River Road, Potomac, MD
How many credit hours: 3
Contact: Harry Yazbek
When: Wednesday, November 12th at 1:00 PM
What: Virginia Ethics
Where: Coldwell Banker Residential Brokerage, 3401 Commission Ct. Ste 101, Lake Ridge, VA
How many credit hours: 3
Contact: Scott Mozingo
When: Thursday, November 13th at 11:00 AM
What: Contracts to Closing
Where: Coldwell Banker Residential Brokerage, 1606 17th St, NW, Washington, DC
How many credit hours: 2
Contact: Harry Yazbek
Should you want additional training scheduled in your area, please do not hesitate to contact Harry Yazbek, Dan Coleman or Derek Massey.
As another reminder, we currently have an opening for a Title Service Representative (TSR) to cover several real estate offices in Northern Virginia. We offer a competitive salary and incentive plan, and a top-notch team environment. The posting for the job can be find here, but also feel free to email Harry or Derek.
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