I closed on a short sale listing with a conditional approval from Chase Mtg. The condition was signatures needed, plus final HUD approval. Both have been completed and signed. This was three weeks ago. This week, title got a call from the buyer's lender asking for a new approval letter without the word "conditional" in it. Has anyone else run into this? I have a call into Chase, have not heard back, sure they are busy trying to get these other short sales closed by months end!
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I'd say...not your problem to fix. The title insurer issued the mortgage policy of title insurance at closing and, as escrow agent, disbursed the buyer's lenders' funds. So if anyone is on the hook (and I doubt they are), it's the title insurer/escrow agent. I tell you this as a lawyer who used to manage a title insurance company.
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