The Trusted Adviser November 2009 | Volume 2 - Number 7

Update from ATG Administration

New Closing Information and Procedures
RESPA Changes, Good Funds, and More

The New Year will start off with crazy parties, lots of football, and a true rash of new closing and disclosure procedures likely to cause lingering hangovers for real estate practitioners and title agents. To help you get ready for this real estate revolution, ATG has compiled a wide array of information, articles, web pages, presentations, and other guidance and is featuring it on our website, www.atgf.com. Look for this box on the opening screen, then click the link to view the information (or click image below):

 

 

 

In short, the Guide to New Closing Information and Procedures contains in a variety of sources from articles to webinars that will provide materials and training on the following:

 

 

  • RESPA Changes | An explanation of the new GFE and HUD-1 Settlement Statement;

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  • REsource Updates | ATG REsource software training options on preparation of the new HUD-1 (for REsource users only);

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  • Good Funds Procedures | ATG procedures for the type of funds to bring to closing;

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  • EZ Dec | Links to the new on-line system for paying transfer taxes for Cook County property; and

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  • Illinois Rules of Professional Conduct | A sample client disclosure form for an attorney/title agent

Daunting as they may seem, ATG will help you prepare for all the changes that begin with the new year. Continue to check theHot Topics!box andGuide to New Closing Information and Proceduresareas of the website as we will continue to update and enhance the information as it becomes available. Pleasecontact our Underwriting Departmentwith any questions or concerns. Thank you.

 

 

THE TRUSTED ADVISER is published by Attorneys’ Title Guaranty Fund, Inc., P.O. Box 9136, Champaign, IL 61826-9136. Inquiries may be made directly to Mary Beth McCarthy, Corporate Communications Manager. ATG®, ATG® plus logo, are marks of Attorneys’ Title Guaranty Fund, Inc. and are registered in the U.S. Patent and Trademark Office. The contents of the The Trusted Adviser © Attorneys' Title Guaranty Fund, Inc.

[Last update: 11-10-09]

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