Important Information

Facebook + RESPA

Jan 30, 2017 / Important Information

One of our priorities here at Glen Oaks Escrow is to ensure we keep you informed about topics affecting our industry! So, we wanted to share with you a few details about a pretty hot topic:…

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CAL FIRPTA WITHHOLDING

Jan 9, 2017 / Escrow

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…

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LA DBS 9A Fee Update

Jan 3, 2017 / Escrow

Take note of these important changes! An increase in the fee for the report was effective December 11, 2016 and 9A reports will now have a non-refundable service fee when using a credit card for…

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SB 407 Water Conservation Update

Dec 19, 2016 / Escrow

Starting January 1, 2017, water conservation retrofitting goes statewide for single family dwellings. All homes built on or before January 1, 1994 are required to update to complying water conserving fixtures on or before January…

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Escrow Terminology 101

Oct 17, 2016 / Escrow

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…

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FinCEN Targets Money Laundering Schemes

Aug 26, 2016 / Important Information

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…

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Write Off The Holidays

Feb 22, 2016 / Important Information

Now that the holidays are over, don’t forget to officially write them off-from a tax perspective of course. Although the Internal Revenue Service (IRS) and the Real Estate Settlement Procedures Act (RESPA) have very stringent…

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Owner’s Policy Update

Jan 25, 2016 / CFPB

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…

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