Final Title Policy
What are the two types of final title policies?
Short Form
Long Form
What is a recorded mortgage?
The copy of the Mortgage that has been recorded the by the local government
What information is required for the mortgage to be recorded?
Numerical Reference
Place of recording (Not handwritten)
Determine how much the Deed fee is
Mortgage MTG & Deed
$150.00 $250.00
$100
Maryland mortgages will have what looks like a 2nd notary acknowledgement. What is it called?
Consideration of Disbursement
True or False Final Title Policies are recorded
False they are not recorded
True or False Riders are required for the mortgage to be recorded
False Riders are only sometimes required
In Georgia what amount can be subtracted from the Fee amount to get the recording fee amount?
Intangible Tax
Determine how much the Deed fee is
Mortgage MTG & Deed
$500 $500
$0
TRUE OR FALSE: You should condition a Maine mortgage if it is missing the MIN number
False
What version of the final title policy has a jacket?
Long form
What are the 3 deed names that processors can accept?
Warranty Deed
Quit Claim Deed
Grant Deed
What County in New York is the Block fee charged in?
Nassau County
Determine how much the Deed fee is
Mortgage MTG & Deed
$400 $600.90
$200.90
What is the one rider that needs to be notarized?
Texas Home Equity Affidavit and Agreement
What are the 3 sections of the Jacket?
Covered Risks
Exclusions from coverage
Conditions
What are 2 AKA names for the Mortgage?
Deed of Trust
Security Instrument
What state is the SB2 fee charged in?
California
Determine how much the Deed fee is
Mortgage MTG & Deed
$350 $670
$320
What document can be used for the Notary date for Georgia loans?
Errors and Omissions Compliance Agreement
Name the four premium policies
Expanded
Eagle
Secondary Market
Extended
True or False: Riders should be recorded with the Mortgage
True
What Texas document has separate recording?
Texas Home Equity Affidavity and Agreement
Determine how much the Deed fee is?
Mortgage MTG & Deed
$700 $1500
$800
TRUE OR FALSE: Maryland Licensee document always needs to be signed
FALSE
It will only need to be signed if it is missing the Licensee information