Upcoming Webinar
The Borrower’s Experience
(CRMP Certified – Basic)
Thursday, January 11, 2024
10:00 am PST/1:00 pm EST
Click here register.
Fee Calculator Updates
We are constantly updating to reflect any increases or decreases in state fees or underwriter changes to ensure that you are pulling accurate quotes each time. Our calculator has been updated to reflect fee changes in the following state(s):
Idaho, Oregon, Washington
Our calculator has also been updated to the new 2024 HECM limit of $1,149,825.
Conveniently get a quote any time, day or night, by simply and accurately inputting the required information and let our interactive fee calculator do the rest. Please call 844-808-8299 or email [email protected] for further details or for a quote.
HOUSE BILL 1474 – effective January 1, 2024
AN ACT Relating to creating the covenant homeownership account and program to address the history of housing discrimination due to racially restrictive real estate covenants in Washington State;
NEW SECTION. Sec. 2. A new section is added to chapter 36.22 RCW to read as follows: (1) Beginning January 1, 2024, except as provided in subsection (2) of this section, the county auditor must collect a covenant homeownership program assessment of $100 for each document recorded, which is in addition to any other charge, surcharge, or assessment allowed by law. The county auditor may retain up to one percent of the moneys for collection of the assessment and must remit the remainder of the moneys to the state treasurer to be deposited in the covenant homeownership account created in section 4 of this act. (2) The assessment imposed in this section does not apply to: (a) Assignments or substitutions of previously recorded deeds of trust; (b) documents recording a birth, marriage, divorce, or death; (c) any recorded documents otherwise exempted from a recording fee or additional assessments under state law; (d) marriage licenses issued by the county auditor; (e) documents recording a name change order under RCW 4.24.130; or (f) documents recording a federal, state, county, city, or water-sewer district, or wage lien or satisfaction of lien.
Merry Christmas from ARS
Holly Jolly Closing
To the tune of Holly Jolly Christmas
Have a holly, jolly closing
It’s the last day of the month
Just weeks ago, it was so darn slow
Now we’re all under the gun
Have a Holly Jolly closing
Let’s call the notary
and let her know, we’re clear to close
So find a place to meet
Oh, no the appraisal’s low-er
Than we thought last week
But we’re still gonna be ok
Cuz the property’s clear and free!
Have a holly, jolly closing
And in case you didn’t hear
Oh by golly have a holly jolly closing, My Dear!
Our office will be closed on December 25th for Christmas Day & January 1st for New Year’s Day.
December Fee Calculator Updates
We are constantly updating to reflect any increases or decreases in state fees or underwriter changes to ensure that you are pulling accurate quotes each time. Our calculator has been updated to reflect fee changes in the following state(s):
Connecticut, Idaho, Oregon, Wyoming
Conveniently get a quote any time, day or night, by simply and accurately inputting the required information and let our interactive fee calculator do the rest. Please call 844-808-8299 or email [email protected] for further details or for a quote.
December Webinar: Fraud Prevention (Advanced CRMP Certified Course)
Fraud Prevention
Advanced CRMP Certified Course
Thursday,
December 14, 2023
10:00 am PST/1:00 pm EST
Click here to register.
2024 Education Calendar
Prepare for the New Year and download the 2024 ARS Education Calendar below.
HECM Loan Limit Raised
The U.S. Department of Housing and Urban Development announced they will be raising the loan limit for Home Equity Conversion Mortgages from its current level of $1,089,300 to $1,149,825 effective for FHA case numbers assigned on or after January 1, 2024. Our calculator has been updated to the new limit.
Meet the Funding & Disbursement Department
What is the Funding and Disbursement Department responsible for?
The Funding Department worked closely with the Settlement Team to take the file from the signing appointment all the way through disbursement. The executed documents are received daily and processed. We identify anything that may be missing or erroneously executed. The recording documents are pulled and an initial audit performed on the recording package. The file is then proper for disbursement with a particular emphasis on items being wired to ensure all funds are headed to the right place and via the correct method.
The Disbursement Department then receives the incoming wires, matches them to the correct file. Once disbursement is triggered, we perform a final and thorough audit of each item to ensure instruction and compliance are met. Finally, wires are initiated, checks are cut and shipped.
What characteristics make our Funding and Disbursement Department great?
We cannot be too detail oriented. One needs to be conservative enough to see compliance is always met, but progressive enough to see solutions that may not be obvious.
A note from the Manager…
If our industry was a sport, we would definitely be the defense. Millions of dollars pass through our department every day and it is up to us to ensure every cent gets to where it is supposed to go and stays out of the hands of fraudsters. Sadly, there bad-actors are only becoming more brazen and more sophisticated every day. Unlike the pros however, we can’t afford to be scored-on even once!
Happy Holidays – Office Closures
Wishing you a warm holiday season filled with lots of joy and amazing memories!
Our offices will be closed Christmas Day on Monday, December 25, 2023 and New Years Day on Monday, January 1, 2024.
Contact
TF: 844.808.8299
905 Highland Pointe Dr., Suite 150
Roseville, CA 95678
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