Tag: credit-score
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What is a Subordination Agreement? Key Insights for Title Professionals
In the world of real estate finance, a subordination agreement is the legal mechanism that allows a lender to "cut in line" for repayment. It's a critical contract that formally rearranges lien priority, and for title professionals, abstractors, and lenders, understanding its function is fundamental to closing deals smoothly. You encounter these agreements most frequently…
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What is Lender Title Insurance? Your Essential Guide
Think of lender's title insurance as the financial armor that protects a mortgage lender's investment. It's a mandatory insurance policy that shields them from any financial fallout caused by hidden problems with a property's title—ghosts from the past, you could say. Before a lender wires hundreds of thousands of dollars for your home loan, they…
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How Are Mortgage Payoffs Calculated? A Guide for Title & Real Estate Pros
When you're calculating a mortgage payoff for a closing, you’re looking for a single, precise number that settles the entire debt. It's the sum of the outstanding principal balance, any accrued daily interest up to the payoff date, and any other lender fees. For title agents and real estate professionals, this final figure is mission-critical…
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