Harlan B. Griswold III’s Blog

I may have helped this become a reality

Of my many complaints about adverse changes in the real estate industry, my number one complaint has been buyers being forced by banks to use No Name Escrow companies.  These (bank (REO) chosen) escrow companies were often far away, usually in S. California and they provided terrible service and delayed escrows.   So, I was shocked and angered when CAR, our Realtor organization, issued a “red alert” opposing bill AB 957, which gives the buyer the right to choose escrow.   I couldn’t believe it. Read the rest of this entry »

On July 30, 2009, a new law is being implemented by loan regulators, which has increased disclosure requirements for lenders.   It is called the Mortgage Disclosure Improvement Act.   (MDIA)   The intent of this bill is to tighten up lender disclosures (from application to closing), so there will be no surprises while signing the closing loan documents.   While the goals of this rule seem laudable, it may have some unforeseen consequences. Read the rest of this entry »