In the news ... Wednesday, November 11, 2009

Mid-Atlantic Area

 

Delaware

32 The Green

Dover, DE  19901

(302) 734-3570

(800) 722-0784

(302) 734-3254 - fax

 

The 800 King Street Building

800 King Street, Suite 304

Wilmington, DE  19801

(302) 661-1997

(302) 661-1996 - fax

 

Pennsylvania

Three Glenhardie Corporate Center

1265 Drummers Lane, Suite 220

Wayne, PA  19087

(610) 687-8020

(800) 842-2080

(610) 687-6056 - fax

 

Calder Square

P.O. Box 10326

State College, PA  16805-0326

(814) 238-3600

(814) 238-3604 - fax

 

125 Technology Drive, Suite 101

Canonsburg, PA  15314

(866) 364-2777

(724) 746-5434 - fax

 

Maryland

Columbia Corporate Park

8850 Stanford Blvd., Suite 2900

Columbia, MD  21045

(410) 953-6763

(800) 664-8306

(410) 953-6761 - fax

 

Virginia

9303 Center Street, Suite 101

Manassas, VA  20110-5547

(703) 365-2300

(800) 232-6817

(703) 365-2400 - fax

 

1245 Mall Drive

Richmond, VA  23235

(804) 897-5499

(888) 859-9222

(804) 288-4090


RESPA REFORM RESOURCES NOW AVAILABLE ON STARSLINK


 

RESPA REFORM RESOURCES NOW AVAILABLE ON STARSLINK

 

In November of 2008, HUD published its final rule reforming its RESPA regulations, which creates two new forms: a Good Faith Estimate (GFE) and a new HUD-1 Settlement Statement.  The changes mandated in the new rule seek to bring more cost certainty into the settlement process, and are also designed to facilitate greater consumer shopping.

 

The mandatory date for use of the new forms is January 1, 2010.

 

 To help prepare the Company and its agents for these momentous changes, the Company formed a RESPA Reform Task Force.  Old  Republicís  Kay Creasman, from the Richmond, Virginia office is one of the key participants on the Task Force.

 

The Task Force has created a new tab under the Agent Services heading on StarsLink entitled "RESPA Reform" and recently loaded onto StarsLink a PowerPoint presentation designed to be a basic primer on RESPA Reform entitled "RESPA Reform--An Overview".  Also included are the new GFE and HUD-1 forms, an article on RESPA Reform, another PowerPoint entitled "The New HUD-1", and a hyperlink to HUD's FAQs.

 

Within the next few days, an interactive HUD-1 will be added to StarsLink under this tab; and a webinar production of the PowerPoint will be completed and added by approximately November 13, 2009.  More documents and other training and educational materials will be added between now and the mandatory implementation date as the Task Force completes additional projects.  These efforts are intended to benefit both the Company and its agents, and provide all with the knowledge and tools necessary to prepare for the changes mandated by HUD.

 

 To access StarsLink, follow the hyperlink http://www.oldrepublictitle.com/orstarslink or copy and paste it in your browser.

 

Once you access StarsLink, click on the Agent Services heading and a number of items appear, including "RESPA Reform." Click on that tab and review the contents referenced above.

 

Please contact Kate Blake-Endicott at 302.734.3570 should you have any questions in this regard.

 

 

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Old Republic Title Update is published by the Mid-Atlantic Area Office of Old Republic National Title Insurance Company in an effort to provide information relative to our industry on a timely basis. None of the materials included in this publication should be deemed legal or underwriting advice or should be acted upon without prior consultation with your underwriter or counsel./font>