Agency Operations

Welcome to Chicago and Commonwealth Land Title Massachusetts
We created this website for our valued Chicago Title Insurance Company and Commonwealth Land Title Insurance Company  agents throughout Massachusetts.  We pride ourselves on providing our title insurance agents with the right answers, right away.
LetterTrax Announcement

Wonderful News - LetterTRAX is getting a makeover!

What:  You will find a fresh, sleek look that is friendly and intuitive to create closing protection letters.  Now you can edit, void and view the history of letters created on multiple web browsers, including Safari.  The new functionality also allows for multiple recipient letters to be created at the same time.

When:  A training schedule and video is available on AgentTrax.  The go-live date for all CPL users is May 19, 2014.

Questions? Please contact your agency representative! 


HUD Settlement Statement Info:

On November 20th, the Consumer Financial Protection Bureau released its Final Rule for integrated mortgage disclosures.  Beginning on August 1, 2015, the 2010 HUD Settlement Statement will be replaced with the Closing Disclosure, which combines the HUD-1 and final Truth-in-Lending disclosure.  A new Loan Estimate will replace the Good Faith Estimate (GFE) and pre-TIL.  The Rule requires that the consumer receive the Loan Estimate three (3) business days after application, and the Closing Disclosure three (3) business days before closing.  These disclosures, originally required by the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), represent the revision and integration of existing forms and the implementation of some new disclosure requirements set forth in the Dodd-Frank Act.

More information will be forthcoming, in the form of bulletins and webinars, but if you’d like to do some research on your own, you may use the following links to access the Final Rule, explanations of the process, and the forms themselves.


CFPB Know Before You Owe page, with PDFs of the new forms:  CLICK HERE

ALTA Webinar, New Era in Closings (originally broadcast on November 21st):  CLICK HERE



E-recording Debits from Escrow Account

As the business practice of e-recordings has steadily increased, any firm that utilizes an e-recording service (i.e Simplifile), must have a separate recording account in place.  In no instances should an outside vendor have the ability / permission to withdraw funds from a general escrow account.


New Short Sale Requirements

HUD has announced changes to their Federal Housing Administration (FHA) short sale requirements, which took effect on October 1st.

The changes include new short-seller requirements: 1) the property cannot be listed with or sold to anyone with whom they are related or have a close personal or business relationship; 2) any knowing violation of the arms-length requirements may be a violation of federal law; and 3) the mortgage must be in default on the date the short sale transaction closes.  Short sellers may be required to submit financial information and provide other evidence of financial hardship.  Based on this information, some short sellers may be required to make a cash contribution at closing. There are also new requirements for junior lien holders. Prior to closing, all additional liens against the property must be released.  A junior lien holder who requires payment in order to release its lien must submit a written statement and agree to release the lien if that amount is paid. The revised FHA short sale addendum must now be signed by all parties, indicating that it is an arms-length transaction.  All parties (buyer, seller, appraiser, realtors, closing attorney and lender) must state that no hidden terms or special understandings exist.  For more details, see HUD’s Mortgagee Letter 2013-23: Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure Requirements. CLICK HERE


Web Based Seminars

New Webinar - January 14th 2014 at 10:00am "ALTA Best Practices"  Enter your email address below to assure you receive an invitation.

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