Hi Students,
Here’s the follow up from yesterday’s Transition Class in Kent.
I received a fax from David Sterling (thanks David!) of the NMLS form 22D. Title insurance is addressed in item number 2. If the box is checked your buyer will receive a standard owners policy. If the box is left unchecked your buyer will receive the much better “homeowner’s policy” which appears to be the default….which is good.
I was not able to locate an aswer to the following question, so I sent it in to DOL’s licensing unit. Perhaps our question will be added to the FAQ emails I’ve been receiving:
“Q: Regarding the new requirement for fingerprints and background checks, where in the law or rules are the requirements for an acceptable background check? For example, is there a law or a rule that would prohibit a person from receiving a license if he/she has prior felony convictions in his/her background?”
Also, the DOL’s FAQ section has been expanded. Take a look at the good questions people have asked regarding fingerprinting. It sounds like they’re going to notify you as to when you’ll be required to go get your fingerprints.
Thanks for a fun class!