Loan Estimate Challenges

Loan Estimate Challenges

Massachusetts’s Biggest LE Challenges

An “attorney state,” or a state that requires that closings be supervised by a licensed attorney, transactions taking place in Massachusetts subsequently will require attorney fees. Land surveys, referred to as “plot plans,” are required for purchase transactions, which means an additional fee to each transaction.

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Loan Estimate Challenges

Colorado’s Biggest LE Challenges

The state of Colorado is fairly straight-forward when it comes to closing costs and fees. The state is noteworthy in that title insurance rates are grouped by zone, rather than county, which could result in multiple-counties within a specific zone. 

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Loan Estimate Challenges

Delaware’s Biggest LE Challenges

Like all other “attorney states,” an attorney’s supervision is required for each real estate transaction involving property situated in Delaware. This, of course, means each transaction will have its own attorney fee.

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Loan Estimate Challenges

Texas’s Biggest LE Challenges

With 254 counties, Texas offers numerous opportunities for tax or fee variability, and thus, its fair share of LE challenges.

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Loan Estimate Challenges

Arizona’s Biggest LE Challenges

While much of its real estate transactional volume takes place in Maricopa County, the state of Arizona does offer one occasional challenge in the assembling of the LE.

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Loan Estimate Challenges

Georgia’s Biggest LE Challenges

Perhaps Georgia’s most notable feature (in terms of LE challenges) is that it’s part of the class of so-called “attorney states.”

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Loan Estimate Challenges

Pennsylvania’s Biggest LE Challenges

The Commonwealth of Pennsylvania holds a special place in our hearts, since it’s where LodeStar calls home. Pennsylvania does offer a handful of challenges for those assembling Loan Estimates for transactions occurring there. 

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Loan Estimate Challenges

Illinois’s Biggest LE Challenges

Illinois is a state of contrasts and complexities. Home to the notorious (for settlement services purposes, that is!) Cook County, Illinois is a place that certainly keeps loan officers and title agents preparing CD’s and LE’s on their toes.

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Loan Estimate Challenges

Washington’s Biggest LE Challenges

Like some of its neighbors to the south, Washington is best known—at least, when it comes to generating a Loan Estimate, for it’s varied and sundry county-specific and city-specific transfer taxes. These also can change from time to time, and never in unison.

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