Mortgage crisis hits home in Bay Area Dec 30, 2007
With the downturn in the housing market, there s been an increase in so-called short sales, said Danielle Mitchell, an escrow agent at Fidelity National Title Insurance Company in Coos Bay. A short sale allows a homeowner to sell his house for less than the amount owed on the loan. (Coos Bay-North Bend The World, OR)
Postini Appoints SRS as Stockholder Representative in Google Acquisition Dec 16, 2007
Shareholder Representative Services, LLC (SRS) today announced that it has been appointed as the representative of the former stockholders of Postini, Inc. following the company's recent acquisition by Google Inc. SRS serves as a professional representative of the stockholders following the closing of merger or acquisition transactions in connection with managing claims by buyers for damages related to breaches of representations or warranties, communicating with the escrow agent and other... (Yahoo News -- Press Releases)
Realty lawyer knows Rocky Point controversy Nov 26, 2007
O'Farrill acted as attorney for one group of Americans, as mediator for another and as escrow agent for others. Some Arizonans credit him with obtaining land title for seaside homes in the face of possible eviction. (AZCentral -- News)
Prime deal, prime debacle for Rocky Point investors Nov 25, 2007
He was mediator and escrow agent in the dispute over Americans' homes in Playa Dorada. But mediation efforts went nowhere. (AZCentral -- News)
'Cathryn is the cog of the local music scene' Nov 5, 2007
TIM FLACK Former escrow agent Cathryn Beeks has found far more fertile real estate to nurture in San Diego's talent-rich music scene. She hosts multiple local music showcases here each week, runs the ListenLocalSD Web site and leads the band The Ordeal. (San Diego Union-Tribune)
County Treasurer mails 16,000 property tax bills Nov 2, 2007
While taxes for many property owners are paid by their mortgage company, Dominguez said taxpayers should contact their escrow agent to confirm receipt of the tax information from the Treasurer s Office. Even if the bill is being paid by a mortgage company, the owner of the property should keep a copy of the bill, she said. (Rio Rancho Observer, NM)
City bill for municipalization of electric utility tops $205,000 Oct 26, 2007
"When we started out, IAMU was functioning as an escrow agent for a number of cities that were participating in the feasibility studies," Morgan explained. "Each city paid IAMU and they in turn paid Latham iates for the studies. Brick Gentry is acting as an escrow agent now and each city pays them, and they, in turn, pay the consultants, Latham ., Frieburg Nelson Law Firm, IUB Board Charges, Consumer advocates, Diedrich Accounting Firm, etc. for each city." "We get a periodic accounting of the... (Kalona News, IA)
Yamato to Help Rakuten Auction Users with Delivery Oct 17, 2007
Japan Post Holdings Co. has served as such an escrow agent so far. The addition of Yamato Transport allows Rakuten Auction customers to ship goods from convenience shops collaborating with Yamato. (JCN Network, Japan)
Lessons from the landslide Oct 8, 2007
Tell the notary and escrow agent to go out and get a bottle of Evian, because you're going to sit there and read this stuff that you're going to sign, particularly the disclosures. Graphic. (San Diego Union-Tribune)
Cardinal Bank parent forecasts quarterly loss Oct 6, 2007
The loss tracks back to July when Cardinal agreed to serve as the escrow agent for Liberty Growth Fund LP through its trust and investments division ... 85 million of Aims' preferred stock to fund the transactions and use Cardinal as the escrow agent. (Washington Business Journal, DC)
Newton Energy Corporation Announces First Closing of Private Placement Sep 15, 2007
The remaining 85% of the gross proceeds were deposited into escrow with CIBC, as escrow agent, to be released to the Company when the Company is awarded by the UK Department of Trade and Industry not less than 65,000 acres of exploration licenses in the 13th Round of Onshore Licensing within the United Kingdom (the "Second Release Date"). The proceeds of the Offering will be used to meet the Company's obligations related to expected work commitments for the licenses it may obtain. (CCNMatthews Press Releases)
Real Estate Deals Are Feeling the Credit Pinch Sep 12, 2007
The courier was hurrying them to the escrow agent. And then the lender got cold feet. (Law.com)
Valley residents get smart about homes Sep 1, 2007
Escrow agent, husband convicted. Former Valley title agent Anna Solis and her husband, Oscar Solis, have been convicted of theft and sentenced to 2 1/2 years in prison and ordered to pay $48,947 in restitution. (AZCentral -- Business)
MADE IN FREEPORT: Building a company Aug 26, 2007
Essentially, his company acts as an escrow agent for the parties involved in the transaction, ensuring that everyone is paid appropriately and all the papers are signed correctly, Shroyer said. Running his company and raising two daughters on his own makes for an often hectic schedule for Shroyer. (Freeport Journal-Standard, IL)
Teksid Aluminum Luxembourg S.a r.l., S.C.A. Announces an Amendment to Consent Solicitation Statement, Dated August 2, 2007 Aug 4, 2007
The Amendment to the Escrow Agreement also provides that in the event that the closing of the Fiat Sale does not occur and the Fiat Sale Agreement is terminated or terminates pursuant to its terms, the Company's rights, interests and claims with respect to unpaid portions of the Fiat Payments, including amounts that would have been paid by Teksid S.p.A. to the escrow agent, or the Company, as applicable, in the event of the Closing, shall remain in full force and effect as against Teksid S.p.A.,... (PR Newswire)
Earnest money is a good-faith pledge Jul 27, 2007
The person who handles the earnest money is the escrow agent or holder ... In most simple real estate transactions, the escrow arrangement is found in the purchase and sale agreement and details under what conditions the buyer or seller will be entitled to the earnest money and under what conditions the escrow agent should disburse the earnest money ... then the escrow agent will handle the funds based on what the escrow instructions dictate. (Atlanta Journal-Constitution)
Mutual Funds &Personal Finance Jun 26, 2007
The SEC order approves a transfer of money already paid by Columbia from the U.S. Bureau of Public Debt to Deutsche Bank, an escrow agent. Posting to transfer takes about seven days. (Investors Business Daily)
Sinovac Issues Corporate Update Jun 2, 2007
Because plaintiffs in a British Columbia, Canada court action against Mr. Wang had recently obtained a temporary court order enjoining Sinovac's escrow agent from disposing of the pledged shares in its custody, Sinovac may need approval of the court to exercise its rights as secured party over the pledged shares. About Sinovac Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect... (PR Newswire)
Another mortgage firm accused of illegal practices May 20, 2007
Escrow agent charged. Former escrow agent Anna Solis and her husband, Oscar Martinez Solis, have been charged with conspiracy, fraud and theft by the Arizona Attorney General's Office. (AZCentral -- Business)
Macquarie Power & Infrastructure Income Fund Announces Mailing of Take-Over Bid Circular May 19, 2007
In addition, the CVRs otherwise distributable to U.S. Unitholders will be issued to an escrow agent until payment on the CVRs, if any, is made, at which time each such Unitholder will be forwarded payment in an amount equal to such Unitholder's pro rata portion of the payment amount, if any, net of all costs related to such arrangements and any applicable withholding taxes. This news release is not a solicitation of a proxy from any security holder of CPIF, nor is it an offer to purchase or a... (CCNMatthews Press Releases)
Escrow officers under scrutiny May 6, 2007
"Some Arizona escrow agents may think no one is watching, but the convictions are mounting," said Richard Hagar, a national fraud expert and appraiser from the state of Washington ... In 1994, legislation was passed that allowed regulators to revoke or deny a license if an escrow agent had been convicted of a crime; distributed checks in violation of escrow instructions; didn't have the financial resources, experience or competence to operate legally; or bounced checks on the firm's accounts ...... (AZCentral -- News)
Shareholders of golf course approve sale Apr 24, 2007
An April 4 letter announcing the results of the vote asks that shareholders mail their stock certificates in an enclosed envelope to the escrow agent. Each shareholder would receive the same amount -- between $2,850 and $3,150 per share, a letter states. (Herald-Tribune)
Twardy holding firm in Haverford despite attack from county GOP Apr 13, 2007
The board had given Rotwitt the $5 million advance from the developer, told him to make his firm the escrow agent and withdraw the $600,000 advance. When confronted by Lewis, Twardy "instinctively went into a shell," according to his grand jury testimony. (The Delaware County Times, PA)
Bulldog Resources Announces Substantial Light Oil Reserves Growth and 2006 Year End Results Mar 20, 2007
Pursuant to the terms of escrow agreements between each of the subscribers and the escrow agent, the 4,000,000 common shares are subject to an 18 month escrow ... Pursuant to the terms of escrow agreements between each of the subscribers and the escrow agent, the 4,000,000 common shares are subject to an 18 month escrow. (CCNMatthews Press Releases)
Ciranova places p-cell software in escrow Mar 14, 2007
Steve Schulz, Si2 president, said that a third-party company an escrow agent holds the source code, with Si2 designated as beneficiary in case one of the trigger conditions is met. "The agreement will make sure that Ciranova customers continue to have access, and cannot be prevented through a hostile takeover, acquisition, or anything that provides risk to the customer base.". (EETimes)
5 indicted in Arizona real estate fraud case Mar 9, 2007
A group of former housing counselors, loan officers and an escrow agent has been indicted on fraud and conspiracy charges in one of the biggest real estate fraud cases in Arizona since the housing crash of the late 1980s ... The escrow agent supplied Carrillo with information on the Federal Housing Administration properties with equity left. (AZCentral -- News)
Lawsuits targeting mortgage schemes Mar 4, 2007
Typically, a mortgage or real estate fraud case begins with a complaint filed with a regulator against a lender, mortgage or real estate brokers, escrow agent or appraiser. Then, that state agency launches an investigation that is followed by a hearing. (AZCentral -- News)
Public Notices for Tuesday, February 27th, 2007. Feb 28, 2007
Alternatively, upon request of the successful bidder, the District shall make payment of retentions earned directly to an escrow agent at the expense of the successful bidder. An optional pre-bid conference followed by a site visit will be held at the District s office at 2:00 P.M. on March 9, 2007. (Santa Maria Times)
Housing Counsel: Like-Kind Starker Exchange Feb 26, 2007
For example, if the taxpayer used her attorney for legal services (other than for the 1031 exchange), unless two years have elapsed, that attorney cannot be the intermediary or escrow agent. Fifth, there are mandatory time restrictions which are spelled out in the law. (RealtyTimes)
Holding Escrow After Settlement Could Cause Headaches Feb 16, 2007
Signed by the buyer, seller and the escrow agent. What's the money for. (RealtyTimes)
Valley fighting mortgage fraud wave Jan 21, 2007
On through the sale process, the fraud also may involve an escrow agent or mortgage broker who provides information and documents knowing the home is not worth the amount of the loan ... And her agency can go after only mortgage brokers and escrow agents. (AZCentral -- News)
NextWave Wireless LLC to Redeem $148.5 Million of Non-Recourse Secured Notes Dec 8, 2006
The holders of the Non-Recourse Secured Notes will receive a notice of redemption from the Company's escrow agent. The notice will contain instructions for the note holders to return their Notes and to provide payment instructions. (PR Newswire)
Louima Attorneys to Be Paid $3 Million in Fees Dec 5, 2006
In a hearing on Friday before Eastern District Magistrate Judge Cheryl L. Pollak, the escrow agent, Ronald L. Garnett, relented when Louima's attorneys, the firm of Cochran Neufeld k, challenged his request ... The larger principle for the court to consider, Ross argued, was whether it wanted to set a precedent by which an escrow agent could offer free work and then seek a fee later. (Law.com)
St Andrew Announces Exercise of Subscription Receipts and Release of Escrowed Proceeds Nov 23, 2006
The proceeds from the private placement of the Subscriptions Receipts were held in escrow (the "Escrowed Proceeds") by CIBC Mellon Trust Company, the escrow agent under the private placement, and will be released to the Company by November 24. St Andrew (TSX: - ) is a gold mining and exploration company producing gold from its Stock Gold Complex in Timmins, Ontario and with gold production from its Nixon Fork project in Alaska scheduled to commence in November of 2006. (CCNMatthews Press Releases)
Scailex Corporation Announces Third Quarter 2006 Results Nov 21, 2006
0 million retained in escrow under the asset purchase agreement with HP. Recently, HP filed an indemnity claim with the escrow agent for the release to it of approximately $5. 3 million out of such escrow funds (Scailex Corporation's share in the claimed amount is approximately $2. (PR Newswire)
Sennen Resources Ltd.: Agreement to Sell Interest in MDL 282 Middlemount Coal Deposit for AUS$15,000,000 Nov 16, 2006
Upon Completion, CMM will provide bank guarantees for the two outstanding payments of A$4,500,000 to be paid by CMM on the 12 and 24 month anniversaries of the date of Completion in order to ensure payment of the funds as and when they are due; the escrow agent will not be required to hold these funds. Following Completion, Sennen will retain its interest in MDL 283 (Ownaview) and EPC 640 (Collingwood), two coal deposits also located in Queensland. (CCNMatthews Press Releases)
Peerless Energy Inc. Announces Third Quarter Results and Release of Escrowed Shares Nov 8, 2006
As a result of the Peerless listing graduation from the TSX Venture to the TSX as previously announced on September 15, 2006, there has been a release from escrow of 1,027,250 Peerless Class A shares pursuant to the Escrow Agreement dated May 10, 2005 among Peerless, Olympia Trust Company (as escrow agent) and certain Peerless shareholders, including insiders. The remainder of the 733,751 escrowed Class A shares will be released on November 26, 2006. (CCNMatthews Press Releases)
Online forums a boon for crime Oct 12, 2006
4% to 8% of the deal price: Fee to have an escrow agent close a complex transaction. Free: Access to a service that gives details of the issuing bank for any credit card number. (USA Today)
NNN Apartment REIT Meets Minimum Offering of 200,000 Shares Oct 7, 2006
Having reached the minimum offering amount, the offering proceeds were released by the escrow agent to the Company and are available for acquisition of properties and other purposes disclosed in our prospectus. On August 15, 2006, the Company's Board of Directors authorized our officers to take the necessary actions to acquire the Walker Ranch Apartment Homes property located in San Antonio, Texas, or the Walker Ranch property, for a purchase price of $30,750,000, contingent upon the following:... (PR Newswire)
New laws will take effect Oct. 1 Sep 29, 2006
The provisions must: describe the parties, identify goods and services to be provided, the amount paid or to be paid, and designate an escrow agent who will hold the prepaid funeral service funds. It also requires funeral homes to keep copies of the contracts and inform contract purchasers when changing majority ownership. (Windsor Journal, CT)
Grey Horse Capital Reports Strong Fiscal 2006 Earnings Sep 28, 2006
Equity also acts as subscription agent, exchange agent, escrow agent and scrutineer at shareholder meetings. On June 1, 2006, Equity was continued as a federal trust company and now adds corporate trust services to its suite of products. (CCNMatthews Press Releases)
L&T ties up Rs 500-crore financing for road project Sep 27, 2006
Citigroup also acted as the Escrow agent. Incidentally, the Anil Ambani group, which had won two stretches in Tamil Nadu from Namakkal to Karrur and from Dindigual to Samaynallur, recently raised finances in the local rupee market. (India Times)
New Column at Mortgage Lenders Plus.com Says Housing Market Changes, Stalled Pricing Can Still Bring Profit Sep 19, 2006
The company is not a lender, broker or escrow agent; instead, it provides an unequaled marketplace where you can match your needs and wants with nearly 200 competing mortgage lenders. For news about loans, lenders, equities and home values, please visit. (PR Newswire)
In honor of ‘Stocky'Wildlife habitat near Charlo dedicated to biologist and Renaissance man Sep 19, 2006
So Pheasants Forever stepped forward and essentially acted as an escrow agent. It then held title until FWP came up with the money to buy the property and incorporate it as wildlife habitat, with public access guaranteed in perpetuity, as part of the Ninepipe WMA.. (Missoulian, MT)
State tries to reduce title fees Aug 31, 2006
An escrow agent handles the closing and makes sure all conditions of a real estate deal are met before funds are transferred or a deed is recorded ... Before the public hearing, about 65 escrow agents wearing bright blue "Shame on You John Garamendi" T-shirts protested his proposals on the sidewalk outside the department's offices on Fremont Street. (San Francisco Chronicle -- Business)
Don't rely on the law Aug 13, 2006
An attorney can act as the escrow agent, disbursing the payments with each stage of completion. 9. (Times Herald-Record, NY)
Public Notices for Sunday, July 16, 2006 Jul 16, 2006
SUBSTITUTION OF SECURITIES: Pursuant to Section 22300 of the Public Contract Code and the project specifications, the CONTRACTOR may substitute securities or request that the County make payment of retentions to an escrow agent for any money held by the COUNTY to ensure contract performance ... SUBSTITUTION OF SECURITIES: Pursuant to Section 22300 of the Public Contract Code and the project specifications, the CONTRACTOR may substitute securities or request that the County make payment of... (Santa Maria Times)
Sarasotan withdraws as Husani attorney Jul 7, 2006
Beason is representing Donald and Dona Grant, who are suing Capital Force and its escrow agent, John A. Yanchek, for failing to close a $1. 1 million real estate deal and for withholding a $100,000 escrow deposit. (Herald-Tribune)
Jet-Sahara feud: Roy moves court Jul 5, 2006
Air Sahara along with ICICI Bank - the escrow agent - and Jet Airways had been made respondents in the new petition. While the earlier petition was filed by SICCL with OP Srivastava as the other plaintiff, the new petition has been moved by Sahara India with Subrata Roy, JB Roy and Vandana Bhargava, the company secretary as other plaintiffs. (India Times, India -- Intl Business)
Subrata Roy moves court over Sahara-Jet battle Jul 4, 2006
Interestingly, Air Sahara along with ICICI Bank - the escrow agent - and Jet Airways had been made respondents in the new petition. While the earlier petition was filed by SICCL with O P Srivastava as the other plaintiff, the new petition has been moved by Sahara India Limited with Subrata Roy, the group Chairman, J B Roy and Vandana Bhargava, the company secretary as other plaintiffs. (India Times)
Takeover aborted: Jet claims return of Rs 500 cr from Sahara Jun 30, 2006
1 of the SPA, the two sides had agreed to intimate the Escrow Agent (ICICI Bank) about termination of the deal. Further, as per the Clause, the bank was bound to refund the amount to Jet within one working day, the company said. (India Times, India -- Intl Business)
Reiman's RICO Jun 16, 2006
The complaint also alleges that Rozhetskin and Fridman were assisted by Hans Bodmer, who served as escrow agent and sent instructions to IPOC to wire money through banks in New York for the benefit of the defendants. Bodmer recently plead guilty to criminal conspiracy to launder money and conspiracy to violate the U.S. Foreign Corrupt Practices Act in connection with an unrelated scheme to bribe foreign leaders. (Ocnus.net)
TSX Venture Exchange Daily Bulletins for June 12, 2006 Jun 13, 2006
The proceeds from the sale of the subscription receipts will be held by Olympia Trust Company, as escrow agent (the "Escrow Agent") and invested in short-term obligations of, or guaranteed by, the Government of Canada (and other approved investments) pending completion of the Acquisition ... If rights of first refusal ("ROFRs") are exercised in relation to the Acquisition, resulting in a reduction of greater than 10% of the production associated with the acquired assets, the Escrow Agent will... (CCNMatthews Press Releases)
Housing Counsel: Escrow Agent Cannot Unilaterally Release Fund Jun 12, 2006
Traditionally, escrow agents will have the buyer and the seller enter into an escrow agreement, and include a time limit as to when the escrowed funds should be released ... If there is no such time limit, the escrow agent is prohibited by law to release the funds just because one party has so requested ... An escrow agent has a fiduciary duty to the parties to the transaction. (RealtyTimes)
More of this story» May 6, 2006
Mayer, escrow agent and sales executive at Chicago Title Office, 145 S. Front St., wore her hair long.. It amuses her to encounter acquaintances who haven't seen her in a while or do not know she had breast cancer. (Dowagiac News, MI)
Husani, lawyer hit with lawsuits for escrow funds Apr 27, 2006
"As an escrow agent, Yanchek has a fiduciary duty to act in the best interest of both the buyer and the seller," said Kimberly McAllister-Smith, an attorney representing Stanford Management. "He knows he is named as the escrow agent. His client tells people he is in receipt of the funds. But when we try to confirm the existence of the funds, he doesn't respond.". (Herald-Tribune)
