Skip to content
GeoDataVision
Thread Options
#2050716 - 11/20/15 05:15 PM Settlement Agent on Contract
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
This must be the day for questions!

Say we are delivered a purchase contract that states ABC Title as the settlement agent. The borrower has stated to us that he doesn't care who the settlement agent is. Is there a problem if the closing disclosure shows XYZ Title as the settlement agent?

Hope that made sense and thank you.

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2050840 - 11/21/15 02:46 AM Re: Settlement Agent on Contract mdog76
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,618
Galveston, TX
A settlement agent works for the bank. Why would this be in a purchase money contract?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2050862 - 11/23/15 01:55 PM Re: Settlement Agent on Contract rlcarey
Carolina Blue Offline
Platinum Poster
Carolina Blue
Joined: Jul 2005
Posts: 956
Lost in a regulatory fog
Probably because realtors think they run the show and can do whatever they want (Jedi hand wave: these are not the Section 8 violations you're looking for)

Return to Top
#2050864 - 11/23/15 02:07 PM Re: Settlement Agent on Contract mdog76
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Who chose XYZ? Does your bank use a specific SA? If so, that's your right. If the seller wants a specific agent to represent their interests I guess that's fine too...but I'd say that's on them. smile
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#2050878 - 11/23/15 02:30 PM Re: Settlement Agent on Contract mdog76
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
Thanks for the information. The loan officer was just digging in too deep I think. He and some staff have gotten gun shy a little about having everything matching an correct.

Return to Top