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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: 104.1 policy Posted by Rick Harmon on November 22, 2003 at 8:26 AM In Reply to: 104.1 policy posted by gcastro on November 21, 2003 at 11:28 PM : Is a 104.1 Title policy the same as a binder policy? : Gonzalo ============================================================= Nope. It's used when an originating beneficiary (lender) sells the loan to another. Many lenders will fund in their own name and immediately sell off their loans, which is why they need this. In our business, we always know who our investor will be so we just draw docs in the name of that (private) investor and direct escrow to order title policy in the vesting of the investor (beneficiary). Too easy! Rick Harmon Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Is a 104.1 Title policy the same as a binder policy? : : Gonzalo : ============================================================= : Nope. It's used when an originating beneficiary (lender) sells the loan to another. Many lenders will fund in their own name and immediately sell off their loans, which is why they need this. : In our business, we always know who our investor will be so we just draw docs in the name of that (private) investor and direct escrow to order title policy in the vesting of the investor (beneficiary). Too easy! : Rick Harmon Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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