Close-up Of A Person's Hand Stamping With Approved Stamp On Document At Desk

MISMO Unveils Remote Online Notarization Standards

Close-up Of A Person's Hand Stamping With Approved Stamp On Document At Desk

MISMO has announced the release of its Remote Online Notarization (RON) standards, which will enable the use of audio-visual communication devices to notarize documents in a virtual online environment. 

MISMO’s RON standards were updated to include language to preclude the storage of personally identifiable information. The standards support model legislation that was developed by the Mortgage Bankers Association (MBA) and the American Land Title Association (ALTA), which multiple U.S. states are now using to enact RON laws in their jurisdictions. MISMO noted that some states with RON legislation have already utilized draft versions of the MISMO RON standards to implement their state law. 

MISMO released the standards for a public comment period that runs through Aug. 12, at which point the standards will be moved to Candidate Recommendation status if substantive comments are received in the comment period. The Candidate Recommendation status means the RON standards are ready for broad use across the entire residential mortgage industry. 

“With states across the country enacting remote online notarization laws, MISMO’s standards will support greater consistency as the volume of remote online notarial transactions increases,” said Eddie Oddo, Vice President of Corporate Business Solutions at First American Title Insurance Company, and co-chair of MISMO’s Remote Online Notarization Workgroup. “We’re excited about this next stage in the standards process and look forward to seeing lenders, title companies, software vendors, and notaries leverage RON standards to offer borrowers a more secure and efficient closing process.” 

MISMO’s announcement was also welcomed by David Burner, Strategic Planning and Partnership Manager at Notarize, a Boston-based platform for legal online notarization. 

“We are really excited that MISMO put together the standards for the industry,” said Burner. “There is so much talk about online notarization that sometimes it can be confusing. This was a collaborative effort among different stakeholders, and without MISMO this would not have happened.”

Source: https://nationalmortgageprofessional.com/news/71822/mismo-unveils-remote-online-notarization-standards

DFW Area Haunted Houses

It is that spooky time of year!  So if you dare, here are some of our areas best haunted houses.

The Parker House

8550 W University Drive, Denton, Texas
Price: $25 general admission and $40 for Fast Scare Pass. Tickets can be purchased online or onsite (cash only)
Dates: Fridays-Saturdays in October, with extended dates near Halloween

Reindeer Manor

410 Houston School Road, Red Oak, Texas
Price: Starting at $35, with various combo and family options available
Dates: Fridays-Saturdays in October, with extended dates near Halloween

Six Flags Fright Fest

2201 E Road to Six Flags Street, Arlington, Texas
Price: Daily GA tickets start at $82.99; haunted house passes are $29.99
Dates: Thursdays-Sundays in October, with extended dates near Halloween

Screams

2511 FM 66, Waxahachie, Texas
Price: GA tickets start at $32 plus fees and $20 extra for fast passes; group discount tickets are $30 each
Dates: Fridays-Saturdays through October; open 7:30pm-1:30am

Moxley Manor

510 Harwood Road, Bedford, Texas
Price: GA starts at $25; $40 for Fast Passes
Dates: Fridays-Sundays in October, plus extended dates around Halloween

Hangman’s House of Horrors

4400 Blue Mound Road, Fort Worth, Texas
Price: GA tickets start at $24 with various packages available
Dates: Fridays-Sundays in October, with extended dates closer to Halloween

Dark Hour

701 Taylor Drive, Plano, Texas
Price: GA tickets start at $30, with various packages available
Dates: Fridays-Saturdays in October, with extended dates closer to Halloween

Cutting Edge Haunted House

1701 E Lancaster Avenue, Fort Worth, Texas
Price: GA tickets start at $34.99
Dates: Fridays-Sundays in October with extended hours the week of Halloween. Open times are either 7pm or 8pm depending on the date

Source: https://www.thrillist.com/entertainment/dallas/haunted-houses-in-dallas

Republic Title Lakewood Hosts 11th Annual Pink Party Benefiting The Bridge Breast Network

On October 3rdRepublic Title Lakewood hosted their 11th annual Pink Party for a Cause with all proceeds benefiting The Bridge Breast Network, an East Dallas organization providing healthcare to breast cancer patients.

“Republic Title is a big supporter of the Bridge Breast Network and the work they do in our community,” said Republic Title’s Cindy Maya, “We are thrilled that our Pink Party for a Cause benefits such a worthy cause and couldn’t have done it without our generous customers and donors. This is our 11th year of hosting the event and it has been so exciting to watch it grow with this year’s event raising over $12,000!”.

All proceeds raised at Republic Title’s Pink Party for a Cause benefit The Bridge Breast Network, whose mission is to save lives by providing access to diagnostic and treatment services for breast cancer to low income, uninsured and underinsured individuals.

“It truly takes a village for a program like Bridge Breast Network to achieve our mission. The $12,000 raised at the Republic Title Pink Party will provide lifesaving mammograms for 80 women. Early detection is the key to survival. Together our two organizations are building bridges of hope by providing mammograms for uninsured women.” said Terry Wilson-Gray, Executive Director of the Bridge Breast Network.

For more information on The Bridge Breast Network, visit www.bridgebreast.org.

Click here to view pictures from Republic Title’s Pink Party.

Pile of fall leaves with fan rake on lawn

7 Fall Lawn Care Musts For Your Yard

As the temperatures start to get cooler, it is the perfect time to get your lawn ready for the winter months.

Vistors enjoy food, games and the festivities of the State Fair of Texas in Dallas.

State Fair of Texas – Ends October 20th

Don’t miss out on this year’s state fair.  It’s going to be a beautiful weekend and the fair would be the perfect place to go.

There is something for everyone.  Visit the car show exhibit and see the latest and greatest cars.  The livestock area is a great place for kids to see all kinds of farm animals.  And of course you have to go to the midway.  Enjoy all of the rides, fun activities and sample this years newest food creations.

Go to bigtex.com to see a full schedule of events and activities going on this weekend.

Have fun and enjoy this wonderful weather!

 

Sold Home For Sale Real Estate Sign in Front of Beautiful New House Republic Title

Helpful Terms for Buying/Selling Your Home

Buying or selling a home is one of the most important undertakings of a lifetime. When buying or selling a home, there are many real estate terms that may be unfamiliar to you. Check out this list of commonly used terms that you may find helpful during the process.

AIR:  Adjustable Interest Rate

AMORTIZATION SCHEDULE: A schedule showing the principal and interest payments throughout the life of the loan.

APPRAISED VALUE: An opinion of the value of a property at a given time, based on facts regarding the location, improvements, etc. of the property and surroundings.

CD/CLOSING DISCLOSURE: This form is a statement of final loan terms and closing costs. Sometimes referred to as ICD or Integrated Closing Disclosure.

COMMITMENT:  The document by which a title insurer discloses to all parties connected with  a particular real estate transaction all the liens, defects, and burdens and obligations that affect the subject property.

CREDIT REPORT: A report on the past ability of a loan applicant to pay installment payments.

DOCUMENT PREPARATION FEE: A charge by an attorney for preparing legal documents for transaction.

ESCROW FEE: A fee charged by the title company to service the transaction, to escrow monies, and cover documents. Usually split between buyer and seller.

ESCROW ACCOUNT: Funds held by the lender for payment of taxes and insurance when due. Usually does not include maintenance fees.

HOA ASSESSMENT FEES: Charged by the homeowner’s association as set out in subdivision restrictions.

HOMEOWNER’S INSURANCE:  Protects the property and contents in case of loss; must be for at least the loan amount or for 80% of the value of the improvements, whichever is greater.

INSPECTIONS: An examination of property for various reasons such as termite inspections; to see if required repairs need to be made before funds are received, etc.

INTEREST: Money paid regularly at a particular rate for the use of money lent.

LOAN TITLE POLICY: Required by the lender to insure that the lender has a valid lien; does not protect the buyer.

ORIGINATION FEE:  A fee the buyer pays the lender to originate a new loan.

OWNER’S TITLE POLICY: Insures that the buyer has title to the property, that there are no other claims as to ownership. Among other matters, it also insures access to the property, the right to occupy the property, good and indefeasible title, and that there are not other types of specific liens against the property. 

POINT:  1% of the loan amount.

PREPAIDS: Items to be paid by the buyer in advance of the first scheduled payment of the loan (Homeowner’s Insurance Premium, Mortgage Insurance Premium, Prepaid Interest, Property Taxes and a maximum of three additional items).

PREPAYMENT PENALTY:  Charged by the lender for premature payment of a loan balance.

PRIVATE MORTGAGE INSURANCE: Insurance against a loss by a lender (mortgagee) in the event of default by a borrower (mortgagor).

REALTOR FEES:  An amount paid to the REALTOR® as compensation for their services. RECORDING FEES: Charged by the County Clerk to record documents in the public records. RESPA:  Real Estate Settlement Procedures Act.

RESTRICTIONS: Certain limitations or conditions related to the future use of the property put on the property by a prior owner. These restrictions stay with the property until they expire or are amended as per certain procedures set forth in the restrictions.

SURVEY:  Confirms lot size and any encroachments or restriction violations.

TAX CERTIFICATES: Certificates issued by taxing authorities showing the current year’s taxes, the last year the taxes were paid, and any delinquencies to be collected at closing.

TAX PRORATION: Means that the payment of the taxes for the year of sale are divided between the Buyer and Seller, usually based on the amount of time the Seller owned the property during that year. Prorations, and how they are calculated, are typically addressed in the Contract of Sale.

TIL:  Truth in Lending.

TIP: Total Interest Percentage; the total amount of interest the borrower will pay over the loan term as a percentage of the loan amount.

TOTAL OF PAYMENTS: Total amount paid after all payments of principal, interest, mortgage insurance and loan costs are scheduled. 

To download our Helpful Terms for Buying/Selling Your Home flyer,  visit Helpful Terms for Buying and Selling Your Home.

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