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 648 Newark Avenue, Jersey City, NJ 07306
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NOTICE dated January 1, 2010
Our title commitments have been amended to add the following requirement on Schedule BI : Pursuant to the provisions of P.L. 2009,c. 123 (the "County Homelessness Trust Fund Act"), N.J.S.A. 22A:4-17 is amended to permit counties to impose a recording surcharge of $3.00 per document for any instrument submitted for recording (except Assignments of Mortgage). Passaic, Union and Middlesex Counties have elected to impose this surcharge effective with all documents submitted for recording as of January 1, 2010. Bergen County has elected to impose this surcharge effective with all documents (including Assignments of Mortgage) submitted for recording as of February 1, 2010. Please be guided accordingly when collecting funds at closing for recordings.
NOTICE dated January 1, 2010
The Department of Housing and Urban Development (HUD) has amended the Real Estate Settlement Procedures Act (RESPA) effective January 1, 2010. The changes involve the use of the HUD-1 Uniform Settlement Statement (RESPA Statement) for closings covering one to four family residential real estate closings covered by the Act. Additional information can be provided by our title officers as well as the following websites: HUD RESPA website www.hud.gov/respa New RESPA Rule FAQs http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm |
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