Section 6 - Chapter 23 Flashcards
1
Q
collected funds
A
final funds credited to title insurance company
2
Q
estoppel
A
payoff statement noting everything yet to be paid to lender and others
3
Q
escrow
A
method of closing in which disinterested 3rd party handles the transaction
4
Q
mortgage disclosure improvement act
A
timelines of certain disclosures now affect date of closings
5
Q
real estate settlement procedures act
A
mortgage and settlement disclosures of process and prohibit certain costs from rising
6
Q
controlled business arrangements
A
package of services provides by one company
