Bank (Financial Institution) Wire Fraud!!! Bank wire fraud has become a huge problem, has resulted in significant losses, and preventing it from occurring requires strict due diligence by all involved in a transaction. Fraudsters and thieves have become increasingly adept at recreating almost perfect copies of payoff letters, and obtaining the contact information of the attorneys, lenders, […]
Coronavirus Be Damned, In Real Estate The Show Must Go On! When it comes to residential and commercial real estate transactions in New York, coronavirus or not the deals need to close! When it comes to the title insurance portion of the deal and beyond, Hallmark Abstract Service is successfully helping its clients choreograph closings […]
Today, and rightfully so, parties to a New York real estate transaction are loath to sit in close proximity to each other regardless of the degree of social distancing being used! In certain instances they may also be unavailable for a sit-down as they are quarantining themselves voluntarily or, because they feel ill, have been […]
The concept and potential disruptive nature of blockchain technology (and cryptocurrency) has been discussed at the Hallmark Abstract Service blog in the past (See- The Building Blocks of Title Insurance – Will Blockchain Disrupt The Industry?)! But now, a real estate deal was transacted and the documents recorded utilizing Ethereum, completely bypassing this city’s own legacy recording […]
Over the past month or so Hallmark Abstract Service has explored whether blockchain may at some point in the future disrupt the title insurance industry (‘Can Blockchain Technology Ultimately Eradicate Any Need For Title Insurance In New York State?‘) ! In addition, potentially affecting real estate and real estate transactions are the issues surrounding the […]
While most if not all of these wire fraud prevention tips seem to be common sense, there are unsuspecting homebuyers and home sellers who fall for them nonetheless! That’s why the bad guys try them… __________________________________ Title Insurance: Do you know everything that you need to know about this critical component of your purchase of refinance? […]
Courtesy of JASB Management, some excellent points about achieving success to consider for business and for life. Sometimes, you have to give up to get ahead! 25 Simple Things to Give Up If You Want to Succeed 1. Trying to be perfect. Perfectionism sets us up for failure. It’s not a quest for the […]
Update December 7, 2016: The new fee discussed below has been passed by the Suffolk County legislature per the County website… $300.00 per document MORTGAGE VERIFICATION FEE effective January 1, 2017 In this short video clip Nancy Pelosi opines about the proposed increase in certain real estate fees and the implementation of some wholly new ones by […]
On December 14th it’s likely that Nassau County will approve real estate fee increases making it the most expensive jurisdiction in New York State in terms of closing costs! It’s an unfortunate case of deja vu’ all over again as Suffolk County this week is prepared to do some of the same with mortgage document recording […]
If so, the time remaining to offer your opinion is running short! On July 26th the Consumer Financial Protection Bureau or CFPB released proposed amendments to the TILA-RESPA Integrated Disclosures aka TRID! For anyone who may want to comment the deadline to do so is October 18, 2016. An article from ALTA explains the amendments and provides […]
