Lender Packet
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Transcript of Lender Packet
LENDER PACKET
ESCROW RATES
CALIFORNIA TITLE COMPANY REFINANCE RATES
TITLE RATES
As to one-to-four family owner occupied residential properties, any policy issued in connection with the refinance of existing debt may be issued at the following rates. This rate is not intended for use on non-prime rate loans.
No sub escrow fee if using in-house escrow.
Policy Amount up to: Loan Policy$0 - $250,000 $ 380
$250,001 - $500,000 $ 500
$ 500,001 - $750,000 $ 630
$ 750,001 - $1,000,000 $ 710
$1,000,001 - $1,500,000 $ 995
$ 1,500,001 - $2,000,000 $ 1,280
$2,000,001 - $3,000,000 $ 1,985
$3,000,001 - $4,000,000 $ 2,690
$4,000,001 - $ 5,000,000 $ 3,570
Above $5,000,001
Effective 10/6/14
Add $500 for each additional $1,000,000 or fraction thereof, and
then add an additional $50.
California Title Company deems this information reliable, but assumes no responsibility for errors or omissions. Images may be subject to copyright. WWW.CALTITLE.COM131
Underwritten by First American Title Insurance Company
Bulk loan escrows will be quoted based on volume and additional costs, complexity and liability
incurred by the Company. Please contact your title representative so they are able to work with our
in-house escrow to come up with the correct quote for you.
Brett Borkgren V.P., Regional Sales Mgr.818.822.3650 | [email protected] Gonzaga Sales818.355.2276 | [email protected]/borkgren
www.CalTitle.com
Subject: California Title Successfully Passes Second “Best Practices” Audit
I am pleased to report that California Title Company has received SSAE No. 16 SOC 1 Type II and SOC 2 Type II
certifications from their auditors, Squar Milner, Peterson, Miranda and Williamson, LLP (copies of which are
available upon request). These certification reports (the “Certification Reports”) were issued following a second
extensive audit of the California Title Company FOC systems, which tested compliance with all of the American
Land Title Association (ALTA) “Best Practices” as set forth in the auditors’ 2014 SSAE No. 16 SOC 1 Type 1 and
SOC 2 Type 1 Reports (the “2014 Reports”). This audit was an exhaustive multi-month examination of the entire
CTC FOC and we passed the exam without one single exception. That means we have fully complied with all of
the requirements set forth in the 2014 Reports.
Together these audits were a daunting task consisting of what we believe was the most complete examination
of any title agency in the country. Understandably, these Certification Reports exceed 300 pages and describe
the testing procedures in detail.
California title Company is immensely proud of the work that has been completed and is acutely aware that just
because it is compliant today, does not mean it will be compliant tomorrow. To that end, we have instituted a
training program to stay vigilant in maintaining our high standards and we have instituted an audit program to
make sure that our systems are running as designed. CTC compliments ALTA in its design of Best Practices as
the industry standard and will remain as not just the best service provider in the industry, but the most
compliant as well.
If you have any questions or comments, please feel free to contact our Executive V.P. & General Counsel,
William D. Burding, Jr., at [email protected] .
We appreciate your business and are working hard to be your provider of title and settlement services in the
future.
Sincerely,
Bill Burding
Vice President and
Associate General Counsel
California Title Company
The information contained herein is deemed to be reliable, but it is not guaranteed. California Title Company assumes no responsibility for errors or omissions. Images may be subject to copyright. ©2015 California Title Company.
WWW.CALTITLE.COM
CONVENIENT CALCULATING
Use the TRID Dates Calculator to find the earliest consummation date based on the closing disclo-sure delivery date.
Visit www.caltitle.com or download our free mobile app today!
RATE CALCULATOR TRID DATES CALCULATOR
No need to get frustrated about finding rates and dates associated with the new TRID changes. Our con-venient tools available on our website and mobile app, gives you the freedom and info you need at the office or on the go.
Online you can find the calculator right on the CFPB Info link from our home page.
Call your California Title Rep if you need further assistance on using either one of these features.
The POWER of Our Underwriters Title insurance policies issued through the office of California Title Company are underwritten by four of the strongest underwriters in the title insurance industry. As a result, policies issued through California Title Company on behalf of these underwriters are based on the most secure financial backing available in the industry.
First American Title Insurance
Stewart Title Guaranty Company
Old Republic Title Company
Title Resources Guaranty Company
As a title brokerage, we have the flexibility to get the best prices and policies to benefit buyers, sellers and borrowers. We also do the work locally and provide regional knowledge and service while issuing policies from our four underwriters. We do all of this without passing additional costs on to your clients.
UNDERWRITERS
This 250 page report shows California Title’s compliance with all of ALTA’s ‘Best Practices’ and exceeds the industry standard! This report demonstrates the great lengths to which California Title goes to make sure all of the personal information it receives from our customers is protected from those people wanting to do harm. In a day where identity theft is so prevalent, California Title is on the cutting edge of security! This will also make your closing go more smoothly. Congress has enacted Dodd Frank which has released a set of regulations where Lenders must comply. All Title Companies as vendors of the Lenders must also comply. These are mandatory and intended, in part, to protect the consumer’s NPPI (Non Public Personal Information)�. Part of the Lending Institution’s criteria is to ensure that all of their vendors are compliant. American Land Title Association (ALTA)� has developed the 7 Best Practices for Title Companies in order to comply with federal regulations. By implementing Best Practices, Title Companies who are audited to these standards will be deemed vetted as approved vendors by the lending institutions.
California Title Company and our family of companies are proud to announce that we are one of the first underwritten title companies in the nation to receive an audited SSAE No. 16 SOC 1 type 1 report and
the SSAE No. 16 SOC 2 type 1 report audits with NO EXCEPTIONS TO THE REPORT!
We are proud to offer the highest standard of quality care to our customers and provide the peace of mind home buyers desire and deserve!
7 Best Practices = SECURITYEach pillar is involved and deep. California Title Company has put in a lot of time and money to make sure all of the companies in our Family of Companies are Consumer Financial Protection Bureau (CFPB) compliant!
1. Licenses 2. Escrow Trust Accounting 3. Information Security Management 4. Recording & Pricing Procedures 5. Policy Premium Delivery 6. Insurance 7. Customer Complaint Process
ALTA’s Best Practices require compliance in the following categories known as the 7 PILLARS:
CALIFORNIA TITLE HAS HAD AN OUTSIDE AUDIT AND IS COMPLIANT WITH BEST PRACTICES.
WHAT DOES THIS MEAN?
BEING COMPLIANT
California Title Company is one of the largest
independently owned, underwritten Title Companies in
the United States. We are also one of the most seasoned,
as we’ve held our license to insure properties since 1965
in Southern California. California Title has developed a
reputation where seasoned professionals provide timely,
quality products to protect a buyer’s and lender’s rights
in a real estate transaction. With Title and Escrow Officers
combining over 200 years of experience, we have built a
reputation based on knowledge of the market and great
service. With Title and Escrow offices throughout Southern
California, we are ready to meet your needs and give you a
competitive edge when selecting closing services.
California Title Company has held a license to provide title services since 1965. This is longer than just about every Title Company in San Diego. Closing your deals largely depends on experience, strength and reliability. California Title offers all three qualities.
California Title Historic Timeline• In 1962, Louisville Title Insurance Company formed a local title agency named Louisville Title Company.
• In 1973, the name of the agency was changed to Commercial Standard Title Insurance Company.
• In 1975, Commercial Standard Title Insurance Company was acquired by a group of investors, who changed the name to Terra Title Insurance Company.
• Terra Title Insurance Company was acquired by Orange Coast Title Company in 1989 and the new name became Orange Coast Title Company of San Diego.
• The name was changed again to California Title Company in 1996, followed by an expansion of offices into Los Angeles (2001)� and Orange (2002)� Counties.
CALIFORNIA TITLE COMPANY
WHO WE ARE
HISTORY