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CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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Can underwriters force you to change title companies because

Customer Question

Can underwriters force you to change title companies because the one you've been working with for a month has never done a reverse mortgage?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 2 years ago.

Yes they can. Remember, the mortgage (or reverse mortgage) is a matter of contract - so they are agreeing to loan you money in exchange for repayment, or a lien on your property.

Just as you can negotiate terms on the transaction, the underwriter can as well. If the underwriter is unwilling to continue the transaction with a title company that they do not believe the company is sufficiently experienced, and they make it a "take it or leave it" demand, you have a choice of changing the title company, or finding a new underwriter/lender.