Blog/News - Setco Top

Spring Into Florida Real Estate!

In the real estate market, springtime is the busiest time of the year for home sales. Given this year’s stable economy and low unemployment rate, the spring of 2018 has the potential to be particularly active, especially in certain promising markets, such as Florida.  USA Today recently listed Florida in the top three housing markets likely to get stronger in 2018. It remains one of the best places to invest, as the sunshine state is a perennially popular destination for tourists and permanent residents alike. Warm weather, reasonable cost of living, employment opportunities and a high quality of life are the main attractions in Florida.

The Best Defense Is…A Good Title Professional?

If you’re in the market for a new home this year, it’s more important than ever to watch out for so called “phishing” scams. These information gathering scams target homebuyers who are nearing the closing date on their mortgage loans. Fraudsters attempt to steal the homebuyer’s closing funds, such as their down payment or closing costs, by sending the homebuyer an email posing as the homebuyer’s real estate agent or settlement agent (title company, escrow officer, or attorney). The email falsely claims there has been a last minute change in the closing process, usually a change in the wiring instructions. It instructs the homebuyer to wire or otherwise electronically transmit the closing funds to an account that looks legitimate, but that the scammers control. 

Title Insurance Buys Peace of Mind

Most people, even people just casually browsing houses for sale online, have a dream of what it would be like to buy that perfect home. They imagine the thrill of taking ownership, choosing paint colors, arranging their furniture, etc… but most people never imagine that dream turning into a nightmare.

What Does A Title Company Really Do?

It’s common knowledge that you have to have a title company for a real estate transaction, but many people do not understand what their title company actually does.

Title Insurance, Protection You Can Trust

Buying a home is not usually something anyone takes lightly or does on a whim. A great deal of thought and research goes into every choice, from neighborhood to realtor, yet you may not have spent any time at all worrying about title insurance.

Title Insurance: What it is and Why You Need it

When you buy a piece of land, you don't get handed the piece of land -- you are given title. Title is the owner's right to possess and use the property. How a home is titled can vary. For example, title might be held as tenants in common, as joint tenants, there may be a right of survivorship, or there might be a life estate in the home.

Title Insurance Can Clear Up Your Real Estate Headache

Title insurance, in general, offers protection against any problems with the title, or legal ownership status, of the home. Any lien against a home or competing claim of ownership could jeopardize your financial stake in it, as well as your mortgage lender's. So the lender's policy covers the lender's stake, while the owner's policy covers your personal stake.

What is your Title Companies Closure Rate?

The closing time for all loan types has increased by a day as of June to 43 days, up from 42 days the month before, according to Ellie Mae’s June 2017 Origination Insight Report The time to close a refinance stayed steady at 41 days, while the time to close a purchase loan advanced to 43 days, up from 42 days in May. The average 30-year rate for all loans deflated to 4.27 in June from 4.33 in May.

5 Home-Buying Nightmares Your Title Insurance Could Prevent

Imagine that you have found your dream home. Your offer is accepted, you close the deal, you move in. Then, just as you’ve started to make the house your own, the mail carrier delivers news that turns your world upside down: There was a lien against a previous owner, and now it’s been passed on to you.

$3.28 Surcharge on Florida Title Insurance Policies

As previously reported to you, the Florida Office of Insurance Regulation (“OIR”), required all Florida title insurance underwriters to pay assessments for two failed title insurance underwriters, National Title Insurance Company and K.E.L. Title Insurance Group. The Department of Financial Services (“DFS”), as receiver, requested the assessments to pay the claims and administrative costs for both failed underwriters.