Is there a Continued Education that everyone takes (Not from the NNA) to stay up to date with the way business is done?
I ask because yesterday I did a signing at a real estate office and I encountered an ALTA Settlement Statement for the first time. I kept hearing the agents refer to the ALTA, over and over so I did a quick google search before the customer arrived so that I would know what it should look like when I saw it, and to get a brief description of what it was. I am glad I did that as it turns out it was missing (as was the sellers cd) from the package and title had to send it over. The course I took, explained the HUD in great detail, and read up on CD’s online, but I was caught off guard with the ALTA yesterday, and it was quite uncomfortable as you can imagine. They also kept mentioning a D Pack, and I have no idea what that is either.
Where do you all go to stay up to date. Is there a newsletter that I am missing or does it come with memberships to one of these associations?
Any help would be awesome.
Thanks
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I don’t stay “up to date” in the way you mean. As you are doing the documents, they tend to be pretty self explanatory, if you take the time to read it before going to the closing, whenever you have time. But, I can tell you that if the correct documents aren’t given to me before I leave for the closing, then that is on the Title company. I don’t know what all they need to have in the package and it isn’t my responsibility to know it. I generally will know if the legal documents aren’t in the package: CD, Mortgage, Note, Right to Cancel forms. But beyond that, I am not required to know the correct documents that need to be included.
That especially holds true now that we are starting to see more hybrid or online closings. When you do a hybrid closing, many of the documents are signed online and I only have to have them sign a few in my presence. So, some of the documents won’t be in my package (like the closing disclosure). This is just my humble opinion but it works for me!
Thank you for this response. As I am still relatively new, I thought I was missing something and I hate that feeling. I always try to read as many of the docs as I can, but I usually get docs so late that I am seeing them for the first time along with the homeowner. (that is a whole other thread!)
That was a hybrid signing, the sellers weren’t present and I was literally explaining docs as they came off the printer. It was a nightmare, but I digress.
thank you for responding.
Iesia
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