Settlement agent

(redirected from Settlement Agents)

Settlement Agent

A person responsible for ensuring that all laws and regulations are followed in transferring real estate from one owner to the next. For example, when one sells his/her house, the settlement agent performs the title search and conducts other activities necessary for the real estate to close smoothly. Generally speaking, a settlement agent does not represent either party in a real estate transaction. Some U.S. states require a settlement agent to work on real estate transactions.

Settlement agent.

In some states, a settlement agent, or closing agent, handles the real estate transaction when you buy or sell a home.

He or she oversees title searches, legal documents, fee payments, and other details of transferring property, acting on your behalf to ensure that the conditions of the contract have been met and appropriate real estate taxes have been paid.

A settlement agent also represents you at the closing, so you don't need to be present.

References in periodicals archive ?
Licensing: The provisions of the regulation are detailing the requirements and conditions of the license and the approvals granted by the CBO to payment service providers, system operators, participants, settlement agents and all parties that form partnerships or act as agents of the licensees in line with the implementation of the policies of the payment systems targeted by the central bank.
Simplifile, LC operates networks connecting the agents and jurisdictions that underpin residential mortgage records serving as an electronic liaison between lenders, settlement agents, and county recording offices, streamlining the local recording of residential mortgage transactions.
Simplifile operates one of the largest networks connecting the agents and jurisdictions that underpin residential mortgage records, serving as an electronic liaison between lenders, settlement agents, and county recording offices, streamlining the local recording of residential mortgage transactions.
The depository centre's main activities include registering investment portfolios in the deposit and settlement system; ownership registration, deposit, transfer, settlement, and registry of ownership limitations for deposited securities in addition to linking market members and settlement agents with the deposit and settlement system.- TradeArabia News Service
Two pages are devoted to activities of real estate agents and settlement agents for property transactions.<br />A series of annotations at the end provides citations and discussion of legal authority on UPL issues.<br />Clarity was goal<br />"The old rules were not only out of date, but very confusing," said committee member Dennis J.
Lands Minister Rita Saffioti has welcomed the decision, which will provide the industry - including settlement agents and lawyers - with more time to prepare for the transition to electronic conveyancing.
The portals include interfaces for borrowers, brokers, bank attorneys, settlement agents, and title companies.
First National Bank of Omaha (FNBO) and ATS Secured have announced their unique joint solution to the settlement and title industry that reduces wire fraud and data errors, shortens closing times, and helps settlement agents increase closing volume, the companies said.
As a result, loan settlement agents had a hard time explaining the forms to consumers who were often left scratching their heads at the closing table.
AtClose gives settlement agents complete control over which documents will be pushed for e-signatures, and when they should be made available to the respective individual(s).
A company press release notes that "The Simplifile Collaboration service allows lenders to interact with settlement agents in real time to determine the appropriate fees for a transaction."
(4) Comparing transaction prices reported by listing brokers in MLS with contract prices reported on HUD statements by settlement agents reveals the frequency, magnitude, and direction of MLS errors.