A common document that a borrower will come across during the escrow process is the “Notice of Right to Cancel” (also known as the “Rescission Document” or the “Three-Day Notice of Cancellation”). This document is an important one, so today, we wanted to share with you a bit more about it and provide answers to […]

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There is no shortage of paperwork during the escrow process, and we understand this can be a bit overwhelming, especially for first time home buyers or sellers. To help, we wanted to share with you some information about the Statement of Information – what it is, how it works and why it’s important. So, let’s […]

Leave a Comment     Category: Escrow, Escrow 101, Important Information

California requires that income tax for the sale of a home sale must be withheld. Today, we’ll share with you more information about this form, why it’s important and key information you’ll want to know about before completing it.  So, let’s get started! What is the 593-C Form? Seller fills out the State of California […]

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Check out our latest video to help people understand what goes on in an escrow!

Leave a Comment     Category: Escrow, Escrow 101, Important Information

The language of escrow and the real estate transaction doesn’t need to be a stumbling block; once you know the terms, these words become what they are meant to be – valuable tools to help smooth the road to a successful transaction. Contingency This is a clause in the sales contract that says something must […]

Leave a Comment     Category: Escrow, Escrow 101, Important Information

Understanding contingencies is important when you are considering making an offer on a property.   A contingency is a condition in the Purchase Agreement that allows the buyer(s) to remove themselves from the contract with their deposit refunded if certain conditions are not met after their offer is presented. Some of the most common contingencies are: […]

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We did an analysis of what effect the ‪#‎TRID‬ implementation had on the median days to close for all closings before the 10/3/2015 implementation of TRID and all closings under the new rule which were opened after 10/3/2015. Here’s the data for Refis (R) and Resales (S). We have seen no significant closing delays since the TRID […]

Leave a Comment     Category: CFPB, Escrow

C.L.U.E.® Home Sellers Disclosure Reports will no longer be available through CV Escrow or any other disclosure companies. LexisNexis®, the company that owns the C.L.U.E.® Report, has decided to discontinue the sale of the report through third party vendors such as California disclosure companies. Should a buyer request this report, sellers can obtain one free copy of […]

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The CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance policy is not a transactional requirement nationwide. This new descriptor was written to and applied nationwide with no allowance for […]

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Starting October 3rd, there will be a new Closing Disclosure form, which will replace the Truth-in-Lending Act (TILA) disclosure and the HUD-1. Here’s an example of what the last 17 days of your closing might look like after October 3rd. Please email us for more information on how the new regulations could affect your escrow! […]

Leave a Comment     Category: CFPB, Escrow, Important Information, Real Estate News

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