APM
This is what APM stands for.
What is the annual Authority Parameters Memo?
Parties have up to 90 days after performing labor or providing materials to do this if they haven't been paid?
What is record a mechanic's lien?
It is an acronym for the most common time frame/deadline used in title and escrow.
What is ASAP?
LOPA
What is a Lack Of Probate Affidavit?
This 3-word term (or its 3-letter acronym) should not appear in Schedule A-2 of a commitment in cases where we don't yet know the buyer or lender's name(s).
What is "To Be Determined" (or "TBD")?
Special approval will be needed if we're being asked to insure a bankruptcy sale of commercial property free and clear (under 11 U.S.C. Section 363) before this special time frame expires.
What is the 14 day appeal period?
It's the maximum time after recording a mechanic's lien for the claimant to commence foreclosure proceedings in order to continue perfecting their rights.
What is 8 calendar months?
A law enacted in 1994 allows most Superior Court judgment to be extended by this many more years if done within 90 days of expiring.
What is ten?
REUS
What is a Real Estate Under Search?
It is the main reason we don't include the lender's address in Schedule A-2 of a commitment.
What is it is not part of the lender's legal name?
Only staff from this senior level office may approve insuring land where a Native American Tribe or a corporate entity created by a Native American tribe is one of the parties to a transaction.
What is the Chief Underwriting Counsel's Office?
This document should always be attached to the email message requesting underwriter approval of a mechanic's lien risk.
What is the title commitment?
The "lifespan" of a Federal Tax Lien ends 10 years and 30 days after this date shown on the lien.
What is the "Date of Assessment"?
MERS
What is Mortgage Electronic Registration System?
This newly adopted endorsement series protects the insured owner against post-policy forgery.
What is the ALTA 49 (and 49.1)?
Only people with this type of underwriting authority can approve transactions with mechanic's lien risk.
What is Mechanic's Lien Underwriting Authority?
This document is recorded even though the mechanic's lien it removes from the record has not been paid.
What is a Release of Lien Bond?
Unlike many other types of Superior Court judgments, the priority of a judgment foreclosing a mortgage is effective as of this earlier date.
What is the recording date of the foreclosed mortgage?
BFP
What is a Bona Fide Purchaser?
If the sale price is significantly lower than the tax assessed value (i.e. 80% of it or less), some of these next steps may need to be taken in order to insure the sale.
What is ask questions? Why is the price so low, are there Realtors involved, is the buyer a BFP, is there a certified appraisal that confirms the lower value.
And/or require the title policy amount (and the REETA) to match the tax assessed value.
As long as the liability amount is $75M or less this person can approve transactions involving boat slip condominiums ("dockominiums"), insuring a change in use of land from a golf course, park or green area to residential or commercial use.
Who is Regional Counsel?
It's how the Single Risk is calculated for new construction transactions where there is broken priority.
What is half of the total cost of construction for which we do not have lien waivers?
It's the effective date shown on an ALTA 7-06 endorsement in cases where the MHTE was finalized after closing.
What is the date of recording of the MHTE?
WATIRO
What is the Washington Title Insurance Rating Organization?
This kind of Superior Court legal action/lawsuit is filed when the "main" lawsuit is located in another state.
What is an ancillary action?
Under the APM, when insuring over a recorded risk, this aptly named underwriting approach relies on a creditworthy indemnitor rather than eliminating the exception.
What is Credit Underwriting?