A few questions about title companies when doing a refinance

1- Can a mortgage broker require that we work with a specific title company or should a borrower be allowed to choose?
2- When doing a refi, when is it normal to open escrow, if that's even what it's called with a refi?  Is that done by the title company?

  • December 18 2008 - Rockridge
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Answers (1)

Broker cannot mandate a title company to use, but it is often in the borrower best interest to do so because it will make for a more efficient process and can result also in discounted title fees.

Escrow is typically opened at "SETUP".  Once all of your documents have been collected, appraisal ordered, rate locked, etc  is about the time when title/escrow gets opened.

  • December 18 2008
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