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Homebuyer Tax Credit: Settlement Statement Requirement
We have received numerous phone calls and e-mail requests asking for a HUD-1 Settlement Statement signed by the buyers and sellers. In Washington State, signatures on the Final HUD-1 Settlement Statement are not required and is not common practice. The IRS guideline states: If you claim the credit on a 2009 (or later) return, you must attach a copy of your settlement statement. For most homebuyers,... [Read more]
Samy back in action
Samy is back from taking time to recover from a terrible ski accident up at Mt. Baker. She broke both arms and last week got both casts (her left arm was casted from wrist up to her shoulder) removed after about 6 weeks. While both arms and wrists are atrophied, they are regaining strength. I guess we all know who her team is for the Super Bowl this weekend! Read More →
Our office is moving
Hello friends, It has been a whirlwind Holiday season with much going on and a last minute decision to move our office. We are relocating to an office near the Everett Costco. The office building is literally across the street from Silver Lake and Emory’s Restaurant (prior to it burning down, sadly). Our new address as of Monday January 11th, 2010 is: 1910 – 120th Pl S.E, Suite 101, Everett,... [Read more]
Loan Officer APB: Subordinating? Lender AVM’s may trip up LTV’s
Received in a subordination from Bank of America which utilized their automated valuation program to calculate CLTV. Unfortunately, they are using the actual appraised value or the automated valuation program whichever comes in less. While this may not be new news, when the AVM is significantly less than the appraised value, well, the results can potentially trip up a loan. Just keep this in mind. Read More →
Best way to obtain recorded document history on a property
This video tutorial is about how to obtain a more complete picture of recorded documents against a home that you may be interested in. We do this by searching by parcel ID vs. searching only for a specific document. This way you will not alienate potential recorded documents that may be of interest to you and paints a better picture of the ownership history of a home. Read More →
Update: Subordination Checklist for Bank of America
Please see our post on lender subordinations. Bank of America subordination checklist has changed a bit, so it is updated today. Read More →
Nov. 24th: last signing day for Refinance
November Refi closing schedule: Last signing day is Tuesday,November 24th, for fundings on Nov. 30th. Borrower’s sign no later than November 24th for rescission period. Thanksgiving day does not count for rescission period nor does Sunday. Read More →
SNL Video Humor: Goldman Sachs and H1N1 Vaccinations
Saturday Night Live humorous video, but also quite the statement. Read More →
Funding Conditions: humor is lost when it delays closings.
Here are some recent “zingers.” Borrowers signed on the line next to the one provided. (resulted in a re-sign) Provide proof that the borrowers are not married. Slight variance in borrower signature from others. (resulted in a re-sign) Borrower to sign all doc’s in presence of a Notary (even those docs not requiring a Notary acknowledgment) (Singe Borrower) Please amend Quit... [Read more]
Getting Tax Records online: via “address” search
A brief tutorial on how to get detailed tax information including tax payment history by searching the County online records website (Snohomish County is shown, but principle applies to MOST Counties that have online records. Click the title of the this post for the video. Read More →
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