More Changes in the 2006 Policies
We've previously discussed how the 2006 Policies differ from the 1992 Policies, but it will likely take many title tips to address the major changes. Today's point of interest is something new I learned this week because of a question I received following last week's Title Tip of the Week Newsletter.
The question, from a commercial lender, was basically this
- frequenty we have various mortgages with numerous properties, and
sometimes actually have mortgages totaling more than the value of the
property because of cross collateralization. Can we obtain title
insurance coverage equal to the amount of the mortgage. I'm assuming
that you can not obtain more insurance than the value of the property, no
different than getting excess property insurance.
Thank you for the excellent question and please keep them
Benchmark Title has added a drop box for your convenience outside our main office in Shiloh, IL. Please feel free to take advantage of the new drop box by dropping by with your next new title order!
Did you say free?
Be the first in your office to try out SureClose.com, Benchmark Title's new FREE online transaction management system. Why waste time making status phone calls or standing by the fax waiting for your title commitment when you can get what you need instantly from your own computer. Visit SureClose.com for more information or call April Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so you can start saving yourself time and money today. We'll even give you and your clients a free CD at closing containing copies of their closing documents.
Give me my policy!
Did you know that lenders and home buyers now receive their title policies at the closing table? Call Michelle Null, VP Escrow Operations, to learn more about this exciting new program.
Ready to refi?
Lenders and homeowners will want to hear about our fantastically low new refinance rates. Call today for a quote!
You can place your next title order now by clicking here.
Amy Habrock joined Benchmark Title Company in July of 2005 as a recording clerk and has since been promoted to commercial assistant in the Commercial Division where she is learning to process, prepare documents, and closing statements for commercial closings. Before joining Benchmark Amy earned a bachelors degree in business administration with a minor in music and vocal performance from Monmouth College in Monmouth Illinois. Amy resides in Swansea. She can be reached at 618-239-3750 or by email at firstname.lastname@example.org.
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