We did an analysis of what effect the ‪#‎TRID‬ implementation had on the median days to close for all closings before the 10/3/2015 implementation of TRID and all closings under the new rule which were opened after 10/3/2015. Here’s the data for Refis (R) and Resales (S). We have seen no significant closing delays since the TRID […]

Leave a Comment     Category: CFPB, Escrow

The CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance policy is not a transactional requirement nationwide. This new descriptor was written to and applied nationwide with no allowance for […]

Leave a Comment     Category: CFPB, Escrow, Important Information

Pango Group, CV Escrow’s parent company, has successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1 & SOC 2 Type II audit. With the ever-evolving regulations mandated by the Consumer Financial Protection Bureau (CFPB), Pango Group is proud to be one of the first independent escrow companies in California […]

Leave a Comment     Category: CFPB, Company News, Important Information

As industry leaders in compliance and security, we’ve gone to great lengths to become a trusted escrow company with our SSAE 16 SOC 1 and SOC 2 Type 1 audit. We are designed to comply with industry best practices, and as the first independent escrow company in California to complete this certification, we wanted to […]

Leave a Comment     Category: CFPB, Important Information, Real Estate News

In these past tumultuous years, the Consumer Finance Protection Bureau (CFPB) rocked the mortgage world with new regulations, stringent enforcement and stiff penalties for non-compliance. It also provided a virtual whipping post via an online portal where disgruntled consumers could vent their complaints but not their praise. That is, until now. This past March, at […]

Leave a Comment     Category: CFPB, Important Information, Real Estate News

Starting October 3rd, there will be a new Closing Disclosure form, which will replace the Truth-in-Lending Act (TILA) disclosure and the HUD-1. Here’s an example of what the last 17 days of your closing might look like after October 3rd. Please email us for more information on how the new regulations could affect your escrow! […]

Leave a Comment     Category: CFPB, Escrow, Important Information, Real Estate News

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