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How is the Cost of sellers title insurance in Michigan calculated?
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What is the title of a person in an insurance company who calculates the premium?
An Actuary is the person in an insurance company who calculates the premium
How is title insurance calculated?
The fees for title insurance are specific to the area where the property is located. Some states have regulated fees, other states do not. Therefore, you need to contact your local title agency. If you are in a non-regulated state, the rate charged is a "market rate" meaning that most of the agencies are competitive in their rates, but can modify the rate for each transaction. So each transaction could be different as to what rate is charged. In regulated states, the fees are filed by the Title Underwriting Companies and then monitored by the State. The fees cannot vary and discounting/overcharging is illegal. As far as the actual MATH - most rates are based on a per $1000 rate. So, a per $1000 rate of $3.50 on a $200,000.00 purchase would be calcuated like this: (rate) x 200 = $700 premium Add to the PREMIUM, search charges, endorsements required by the lender, recording fees, etc = final Title Invoice Most agents will happily give you a quote for your specific transaction if you simply contact them. Here is more from WikiAnswers contributors: * I'm a mortgage broker and the closing agents I use charge $2.50 per thousand financed for a refinance and $3.50 per thousand financed for a purchase.
Explain the difference between a put option and a short position in a futures contract?
Well, the first difference is the root difference between a futures contract and an option contract: in a futures contract you MUST complete the sale at the end of the contract (if you didn't buy it back before the settlement date) but in an option you CAN.Once we're past that, the short position in a futures contract--the person who has the item the contract is derived from, such as a thousand bushels of wheat--is the same as the buyer of a put. Both of them have the thing now, and will transfer title to it after settlement or exercise.
What are aggregate function in sql explain any 5 aggregate function with example?
Aggregate FunctionsMINreturns the smallest value in a given columnMAXreturns the largest value in a given columnSUMreturns the sum of the numeric values in a given columnAVGreturns the average value of a given columnCOUNTreturns the total number of values in a given columnCOUNT(*)returns the number of rows in a tableAggregate functions are used to compute against a "returned column of numeric data" from your SELECT statement. They basically summarize the results of a particular column of selected data. We are covering these here since they are required by the next topic, "GROUP BY". Although they are required for the "GROUP BY" clause, these functions can be used without the "GROUP BY" clause. For example:SELECT AVG(salary)FROM employee;This statement will return a single result which contains the average value of everything returned in the salary column from the employee table.Another example:SELECT AVG(salary)FROM employee;WHERE title = 'Programmer';This statement will return the average salary for all employees whose title is equal to 'Programmer'Example:SELECT Count(*)FROM employees;This particular statement is slightly different from the other aggregate functions since there isn't a column supplied to the count function. This statement will return the number of rows in the employees table
Does auto insurance policy have to be in the same name as the title owner in Michigan?
Not typically. The insurance is typically in the name of the person to whom the car is registered and this is not always the name shown on the title.
What is needed to start a title insurance company in Michigan?
The ability to feel no remorse from stealing from your employees that work hard for you.
How much is title insurance for New York City?
All title insurance is calculated by a per $1000 rate based on sales price or refinance rate. The State of New York has regulated fees and are determined by geographic zone.
What is a title insurance producer?
Generally speaking, a title insurance producer is the same as a title insurance agent.
Who are the largest Title Insurance companies in the US?
First American Title Insurance Company Fidelity National Financial Stewart Title Insurance Guaranty Old Republic Title Insurance Company North American Title Insurance Company Chicago Title Insurance Company
Need title insurance?
Yesm, as a buyer of property (even with a warranty deed), you should require the seller to obtain title insurance to back up its claim of ownership. Otherwise, when you receive their worthless ownership in the form of a deed, without title insurance, you might never recover the cost of the property, when it happens to belong to someone else you never heard of. Similarly, as a buyer, you will want title insurance for your own peace of mind; knowing that you won't have to pay to quiet title, or sue the sellers on the warranty, in the event there is ever a dispute. As a lender, you must insist on title insurance, to protect the value of your security interest against seizure by someone with a better claim than your borrower.
Do title insurance companies employ title examiners?
Title examiners are typically employed by title insurance companies
What does the term title insurance mean?
The term title insurance means insurance that covers the loss of an interest in a property due to legal defects and that is required if the property is under mortgage. Most title insurance is lender's title insurance.
Do I need a License to own a title company Michigan?
do I need a license to own a title search company in michigan
Does homeowners insurance cover the lenders title insurance?
No it does not. Lenders Title insurance is a whole other form of coverage
Why do title insurance company's ask if a new title insurance request ask if it is a refinance?
Title insurance rates vary depending on if the transaction is a purchase or a refinance
Where can you get title insurance quotes?
You can get title insurance quotes from by doing a search on google or other search engines for title insurance and visiting one of the websites that offer title insurance quotes. There are some companies that will give you multiple title insurance quotes from more than one company by filling out just one form, and there are other companies that offer you one quote from their company. It is a good idea to shop around for title insurance companies and this is a great way to find and compare title companies and title insurance costs.
