Saturday, April 24, 2010
Technically, a full mark up might not be completed until AFTER a closing, depending on the type of closing. The mark up takes place prior to the issuance of the policy and after all conditions noted in Schedule B1 are resolved. We routinely send copies of the title insurance commitment to consumers PRIOR to closing so they know we have agreed to insure and they have the opportunity to review exceptions to coverage.
Mortgage lenders receive a marked up commitment with their closing documents. In fact, most receive their loan policy in short form at that time.
I would be very happy to provide a marked up commitment to a consumer and would be thrilled that they were so tuned in to risk. Good job putting this out there on YOUTUBE> ;)