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CALIFORNIA ESCROW ASSOCIATION

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Forms & Practices

DISCLAIMER: The information provided in this section of the web site is intended to serve as a guide in the various transactions to which this information may be applicable. No representation is made as to the legal validity of the information or the adequacy of it in any specific transaction. Any information obtained on this site should be used only after consultation with the management of your company and with legal counsel. "The California Escrow Association has, from time to time, gathered information of a non-private nature from existing escrow circumstances that it uses to address the practical concerns and questions of CEA members. CEA renders no opinion whatsoever on the applicability or validity of the information contained herein. Only CEA members are entitled to view this information for their use. As with any resource, this information should be used only in conjunction with the member’s advisory or legal counsel. The information contained herein may not be copied or disseminated to non-CEA members. CEA members consent, by their use of the information contained herein, to maintain the private nature of this information and do further hold CEA harmless and without liability for their utilization of the information contained herein.” I have read and accept the above disclaimer am ready to proceed:

Forms & Practices FAQ

In collaboration with the California Escrow Association, click here for the revised vesting information issued by the California Land Title Association:

Forms and Form Snippets

Lender Information Sheet Back To Top

Borrower:_________________________________________
Escrow No:_______________________________________
If you will require an estimated HUD 1 statement from us prior to the close of our escrow, we will first need the following information from you so that we may prepare the estimate in accordance with RESPA requirements.

Please complete this form FOR EACH NEW LOAN and fax to __________________ at _________________ along with your written list of loan charges and we will provide your estimate as quickly as possible. Thank you for your cooperation and compliance.

Amount of new loan $______________________Interest rate%____________________
Term___________________________________1st Payment Date_________________
Anticipated Closing Date___________________________________________________

Number of pages in trust deed & riders, if any__________________________________

Liability for title policy $________________________

What endorsements will you require?__________________________

Please indicate the manner in which we will receive your documents:
E-Mail Overnight Courier Local Messenger

Please indicate the manner in which you want your documents returned
Overnight Courier Local messenger
If you indicated Overnight Courier, will you require our Account Number? Yes No

Will you provide an extra set of documents for the borrower? Yes No

Do you require taxes to be paid at closing? Yes No

Will you require impounds? Yes No
If yes, how many months for taxes?_____________________________
How many months for insurance?_______________________________

Please FAX the Mortgagee Clause and Loan Number as soon as possible.

INDICATE ANY SPECIAL REQUIREMENTS HERE:

 

NOTE: In the event the amount and/or terms of your loan change, please contact us for an updated estimate prior to closing or we will hold you responsible for any losses we may sustain

Accomodation Instructions Back To Top

ACCOMMODATION GRANT DEED: In order to comply with the lender's requirements for vesting, Escrow Holder is instructed to prepare and record as an accommodation a Grant Deed for the subject property from the Borrowers as they presently hold title as trustee(s) of a trust to _(John Doe and Jane Doe) (the client must select the vesting.) The Borrower(s) shall pay the cost of preparing and recording the Grant Deed.

The undersigned specifically instruct Escrow Holder to cause the following recital to be included on said Grant Deed:

"This conveyance changes the manner in which title is held, grantor(s) and grantee(s) remain the same and continue to hold the same proportionate interest, R & T 11911."

Escrow Holder is instructed not to affix any documentary transfer tax to said Grant Deed.
Escrow Holder is further instructed to prepare and record as an accommodation immediately following the recording of the Deed of Trust, as provided in this escrow, or upon cancellation of this escrow, whichever shall occur first, a Grant Deed returning the vesting of the subject property to Borrower(s) as trustee(s) of the trust referenced hereinabove. The Borrower(s) shall pay the cost of preparing and recording the Grant Deed.

The undersigned specifically instruct Escrow Holder to cause the following recital to be included on said Grant Deed:
"This conveyance changes the manner in which title is held, grantor(s) and grantee(s) remain the same and continue to hold the same proportionate interest, R & T 11911." Escrow Holder is instructed not to affix any documentary transfer tax to said Grant Deed.
-or-
Escrow Holder is specifically directed not to prepare and record as an accommodation a Grant Deed returning the vesting of the subject property of the Borrower(s) as trustee(s) of the trust referenced hereinabove.

The undersigned hold Investors Title Company harmless from any liability due to the transfer of title as provided herein including, but not limited to, due on sale clauses and/or the validity of any existing insurance policies.

Said deed(s) is/are to be recorded concurrently with the documents in this escrow. Borrowers herein have satisfied themselves as to any consequences of this transfer of title as the same relates to possible reassessment and increase of real property taxes, and Escrow Holder is released and relieved from any responsibility and/or liability in connection with same. Borrower herein acknowledges that Escrow Holder is drawing said deed(s) as an accommodation only and that no title insurance is being issued in connection therewith.

DATE:

TO: Company Name
Address
Address

TYPE OF DOCUMENT(S) BEING PREPARED:

TOTAL FEE COLLECTED:
Documentation Fee $
Notary Fee $
Recording Fee $
Other: ___________________$

The undersigned hereby acknowledges that they have provided COMPANY NAME with the information needed and the manner in which the documentation is to be completed. They further declare that they have read and hereby approve the documentation prepared.

The undersigned shall indemnify and hold COMPANY NAME harmless from any and all liabilities, claims, losses or actions which may incur as it relates to this accommodation in the event of errors, omissions and/or tax consequences related to this accommodation document preparation. The undersigned have been advised to seek the guidance of their legal and tax counsel in connection with this accommodation.

DOCUMENTATION IS BEING TYPED AS AN ACCOMMODATION TO THE PARTIES BELOW. THE FORMS PROVIDED ARE THE STANDARD FORMS AS ARE AVAILABLE TO THIS COMPANY AT THE TIME THE DOCUMENTATION IS PREPARED.

PLEASE REVIEW THE DOCUMENTATION, AS ONLY YOU KNOW THE INTENT OF YOUR ACTIONS AND THE REASONS FOR THESE DOCUMENTS.

( ) Documentation has been taken unsigned.
( ) Documentation has been signed and taken by the undersigned.
( ) Documentation has been signed, and COMPANY NAME is instructed to forward to the proper County Recorder for recordation, as an accommodation only.
Phone Number where you can be reached: (______)______________________
Address:

BY:_____________________________________ Date:________________________

BY:_____________________________________ Date:________________________

BY:_____________________________________ Date:________________________

BY:_____________________________________ Date:________________________

Email/Net Loan Doc Disclosure Back To Top

Dear Buyer, Agent and Mortgage Broker:

As more and more lending institutions upgrade their electronic capability, so then must the service industries.

In order to receive loan documents via email or the internet, we must have additional equipment dedicated solely to the production of these loan documents. The downloading and printing time can vary anywhere between 1-1/2 hours to 4 hours, just for one set. If your transaction requires a first and a second trust deed loan, production alone can take a very substantial amount of time. Most lenders that want to utilize this delivery system want to do it at the end of the business day, which requires staff to supervise this process and interact with the various online instructions after hours.

As you can see, this is not a cost effective process for your escrow company. To offset both the cost of the additional equipment and staff hours, a separate charge will apply of $_______ per page of each document transmitted in this manner. This service is not included in your basic escrow fee. Due to the varying size of loan document packages, it is not possible to predict this cost accurately up front. Cost could vary from between $______ to $_______ per set.

The usual manner of receiving loan documents is via federal express or some type of overnight mail; unless the lender is close enough in proximity to have a courier service pick them up. Since this is a Buyer expense, we at __________ feel this is your decision to make, not your lenders.

We are requesting the Buyer’s initials next to delivery system of choice and signature on this disclosure. By executing this document, Buyer is agreeing to pay additional delivery fees as applicable.

 Please have my loan documents delivered by overnight mail, approx. $_____ per loan

Please have my loan documents delivered by special courier, approx. $______ to $______ per loan

Please have my loan documents electronically delivered, approx. $_____ to $_______ per loan

Escrow Holder reserves the right to return loan documents in the most efficient and cost effective manner available, once documents have been packaged per lender requirements, based upon time of package completion.

Attachment to Lender's Instructions Back To Top

This information would be put on a separate piece of paper and attached to the Lenders Instructions. You can also produce on a sticker that is actually adhered to the instructions.
Escrow Holder acknowledges receipt of lender's instructions. Escrow Holder does not accept any portion of the instructions contained herein requiring the performance of obligations or duties exceeding those imposed by California statutory authority, or which require escrow holder to assume liability for the lender's regulatory responsibilities.Escrow Officer:_____________________________________ Date:________________________

Loan Number_____________________

Lender's Instructions to Escrow vary widely from lender to lender. Many of these instructions are inappropriate for California escrow holders as they attempt to place responsibilities and liabilities upon the escrow holder that are beyond the scope of the escrow function in California. We, therefore, decline to sign the "all encompassing" lender instructions which incorporate instructions beyond the scope of the escrow function:

Escrow Holder agrees to the following:

  1. We will obtain (if requested) signatures of the Borrower(s) on all loan documents provided.
  2. No changes to said documents will be made without prior approval of the lender.
  3. We will give a general explanation/description of loan documents to the Borrower(s).
  4. We will obtain Hazard Insurance evidence in accordance with your instructions.
  5. We will return all loan documents within the time frame you have specified, but accept no liability if document arrival is delayed.
  6. We will forward a certified copy of the Final HUD-1 Settlement Statement at the close of escrow.
  7. We will forward a copy of your instructions to the Title Company prior to the close of escrow.

 

Responsibility of others including the following:

Title Company - Recording of the documents and issuing/delivery of the title policy in accordance with lender's instructions;

County Recorder - Mailing of the recorded documents.

Lender - Technical/Legal explanation of the loan documents and Borrowers responsibilities to lender.

County Tax information is provided on the preliminary title report, which has been provided to you, or your may obtain information from the following sources:

(List your County Tax Assessor Here) Phone Number

(List your County Tax Collector or Information here) Phone Number

(Your Company Name)

Payment of Bills Back To Top

PAYMENT OF BILLS - EXAMPLE #1

PAYMENT OF BILLS TO CREDITORS: At Lender's request, Borrower instructs escrow holder to pay the following creditors, on behalf of the Borrower at close of escrow:

$[ ] [ ] Acct. No. [ ]

$[ ] [ ] Acct. No. [ ]

Borrower shall deposit into escrow the most current bill/statement of said creditor, which bill/statements shall show the 1) amount required for payment in full thereof; 2) complete account number; 3) complete mailing address for making said payment; and 4) account name for said bill/statement. Escrow holder's ONLY responsibility shall be to pay in full the balance indicated on said bill/statement and escrow holder shall have no responsibility to verify the actual balance with the creditors.

Borrower is aware that this transaction CANNOT close/record without the requested information being provided to escrow holder.

Upon close of escrow, escrow holder is instructed to pay the bill/statement balance in full and to deposit same via REGULAR US MAIL to creditor's addresses as indicated on the bill/statements. No guarantee is expressed, or implied, by escrow holder, AFTER payment is made as to any additional interest, penalties, late charge, additional balance due not reflected on the bill/statement deposited into escrow, or any other related items thereto. Borrower shall remain responsible and liable to any creditor for amounts over and above the actual amount paid by Escrow holder herein.

Borrower hereby authorizes and instructs Escrow holder to pay the above bills/statements from loan funds herein. In the event loan funds should be insufficient to pay said bills/statements, together with all other demands of the escrow, Borrower will deposit additional funds (by cashier's check), prior to close of escrow, to cover any insufficiency. Borrower agrees to pay Escrow holder as a service charge the sum of $10.00 per check issued under this instruction.

In the event escrow holder is requested to issue a "stop payment" and reissue any of the above checks, there will be a ten (10) day waiting period from the date of any request to reissue said check.

PAYMENT OF BILLS, EXAMPLE #2

PAYMENT OF ACCOUNT BALANCE: At Lender's request, Borrower instructs escrow holder to pay the following account balance, on behalf of the Borrower at close of escrow:

$[ ] [ ] Acct. No. [ ]

$[ ] [ ] Acct. No. [ ]

Borrower shall provide escrow holder with information concerning the payment of the above bill including the 1) amount required for payment in full thereof; 2) complete account number; 3) complete mailing address for making said payment; and 4) account name for said account. Escrow holder's ONLY responsibility shall be to pay in full the balance indicated above and escrow holder shall have no responsibility to verify the actual balance with the creditor.

Borrower is aware that this transaction CANNOT close/record without the requested information being provided to escrow holder.

Upon close of escrow, escrow holder is instructed to pay the above balance in full and to deposit same via REGULAR US MAIL. Borrower shall remain responsible and liable for amounts over and above the actual amount paid by Escrow holder herein.

In the event escrow holder is requested to issue a "stop payment" and reissue any of the above checks, there will be a ten (10) day waiting period from the date of any request to reissue said check. PAYMENT OF BILLS - EXAMPLE #3 PAYMENT OF BILLS TO CREDITORS: At Lender's request, Borrower instructs escrow holder to pay the following creditors, on behalf of the Borrower at close of escrow: $[ ] [ ] Acct. No.[ ] $[ ] [ ] Acct. No.[ ] Borrower shall deposit into escrow the most current bill/statement of said creditor, which bill/statements shall show the 1) complete name of creditor; 2) amount required for payment in full thereof; 3) complete account number; 4) complete mailing address for making said payment; and 5) account name for said bill/statement. Escrow holder's ONLY responsibility shall be to pay in full the balance indicated on said bill/statement and escrow holder shall have no responsibility to verify the actual balance with the creditors. Borrower is aware that this transaction CANNOT close/record without the requested information being provided to escrow holder. Escrow holder is instructed to pay the bill/statement balance in full and to deposit same via REGULAR US MAIL to creditor's addresses as indicated on the bill/statements. IN THE EVENT Escrow holder has insufficient information to comply with items #1 and #3 above, Escrow holder's only responsibility is to hand said check(s) to Borrower at close of escrow and Borrower assumes all responsibility and/or liability for forwarding said payment(s) to the creditor as shown on said check(s). No guarantee is expressed, or implied, by escrow holder, AFTER payment is made as to any additional interest, penalties, late charge, additional balance due not reflected on the bill/statement deposited into escrow, or any other related items thereto. Borrower shall remain responsible and liable to any creditor for amounts over and above the actual amount paid by Escrow holder herein. Borrower hereby authorizes and instructs Escrow holder to pay the above bills/statements from loan funds herein. In the event loan funds should be insufficient to pay said bills/statements, together with all other demands of the escrow, Borrower will deposit additional funds (by cashier's check), prior to close of escrow, to cover any insufficiency. Borrower agrees to pay Escrow holder a service charge of $10.00 per check issued under this instruction. In the event escrow holder is requested to issue a "stop payment" and reissue any of the above checks, there will be a ten (10) day waiting period from the date of any request to reissue said check.

BY:____________________________________________________________, Escrow Officer



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