Why should a consumer be concerned about the person who is “settling” their loan? The attorney, title agent, escrow officer, or notary who is managing the documents and money at the closing can cause you harm. These professionals, who have varying degrees of education, training, insurance coverage, and competency, are the only people connected to your mortgage transaction who have access to the bank’s money, your money, your personal and financial information, and the important bank documents that verify and finalize your ownership of your new home.
There are several ways to find a settlement agent:
Consumers may need a settlement agent at closing for several reasons: