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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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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The Foreign Investment in Property Tax Act (FIRPTA) is a certificate of non-foreign status. FIRPTA addresses the disposition of U.S. real property interest by a foreign person. Section 1445 of the Internal Revenue Code requires that all transferees (buyers) of real property owned by a foreign person withhold and pay to the IRS up to […]

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On July 26, 2016, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury, issued a Geographical Targeting Order (“GTO”) requiring title insurers, their subsidiaries and agents, to report certain information in connection with the purchase of 1-4 unit residential real properties in Covered Transactions. A “Covered Transaction” is an […]

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Many people don’t realize that there’s a difference between what they own personally and what their home owns, and when it comes time to sell, the confusion can cause a lot of problems. Take the period chandelier in your entryway, for example. It’s the perfect example of personal versus real property. So, who does it […]

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Buying a home is one of the biggest investments you will ever make, but it can also be one of the best if you take advantage of different tax breaks. There are a variety of them available and they can save you big money each year if you’re willing to spend the time itemizing your […]

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Refer to this chart to find out if the property you are selling or listing is part of the Lennar Charitable Housing Foundation. If it is, the property is part of the imposed endowment fee agreement. This requires 0.05% of the gross sales price of a home to be paid upon the purchase or sale […]

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As industry leaders in compliance and security, we’ve gone to great lengths to become a trusted escrow company with our SSAE 16 SOC 1 and SOC 2 Type 1 audit. We are designed to comply with industry best practices, and as the first independent escrow company in California to complete this certification, we wanted to […]

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In these past tumultuous years, the Consumer Finance Protection Bureau (CFPB) rocked the mortgage world with new regulations, stringent enforcement and stiff penalties for non-compliance. It also provided a virtual whipping post via an online portal where disgruntled consumers could vent their complaints but not their praise. That is, until now. This past March, at […]

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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! […]

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