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Arrowhead Escrow Blog▣ What is a Closing Agent?...0 Comments added to this post Closing Agent?..Who the heck is the Closing Agent? If you haven't seen the term Closing Agent before, don't worry you are not alone. After every transaction closed on a HUD Home both the buyer and the agent representing the buyer receives a survey asking them to rate the "Closing Agent's" service.
A lot of the time the survey comes back "NA" or not applicable. This because it seems that term Closing Agent throws everybody off. So for clarification the Closing Agent on HUD Homes is the ESCROW COMPANY!
As you have most likely noticed, the escrow company is chosen by HUD and its usually the same escrow company for almost every transaction. Well, in Southern California there are two, Arrowhead Escrow and Tiempo Escrow. Your escrow will be handled by one of those two companies.
HUD refers to the Escrow Company as the Closing Agent. This is because all HUD escrows are contracted out and the name of the contract is...you guessed it The Closing Agent Contract for Southern California.
So when you receive your survey and it asks you to rate the Closing Agent please remember you are rating the Escrow Company that handled your transaction. If you would like a copy of the survey just email us at huds@arrowheadescrow.com and we will send one right over to you.
--Arrowhead Escrow |
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