Q: What should I bring to closing?
A: Driver’s License and funds due from borrower (if required). Any other documentation will be requested prior to settlement.

Q: Who attends the settlement?
A: One of our settlement agents will always perform the settlement of course. As far as additional parties it depends on the type of transaction. For a refinance, all borrower(s) on the loan application (or parties authorized to sign for applicant(s), and possibly your loan officer will attend. For a purchase transaction the buyer, possibly the loan officer, the seller, and the realtor will attend.

Q: What fees can I expect to pay at settlement?
A: At settlement, you will see fees that include (but not limited to) the lender fees, government recording fees, and title fees. To get a more in depth look at the Title (PBXSS) fees please take a look at the “Settlement Fees” Link. Your lender should have provided you with a Good Faith Estimate (GFE) at the time of the application as well.

Q: What form of payment is acceptable at settlement?
A: If fees are required at settlement either a certified check or a wire transfer is acceptable. If wiring funds to PBXSS, please click here for wiring instructions. (Make the “click” a link to wiring instructions for PBXSS)

Q: What is title insurance and is it mandatory?
A: Title insurance is protection against loss arising from problems connected to the title of your property. It is mandatory because before you purchased your home there could have been several different ownership changes. Title insurance covers the insured party for any claims and legal fees that might come up as problems such as previous forged signatures on title, and unpaid property taxes or liens. Each time you acquire a loan a new lender is usually involved. When a new lender is involved a new insurance policy needs to be issued. This helps protect you and your lender. Even if you have the same lender, title insurance needs to be issued. Title insurance can get expensive. To help with costs involved with title insurance you can receive what is called a “reissue rate”. The only way you can receive a reissue rate is to provide us with your original owner’s policy and settlement statement when you first purchased your home. This will allow you to have a discount on your title insurance rate. If you have any more questions about title insurance please refer to the “Ask a Question” link located at the bottom of this page.