Fortris’ Post

We’re excited to announce that Harvey & Driggs is officially registered in Secure Insight’s Closing Agent database, recognized by lenders nationwide! We’ve also earned the prestigious Best Risk Rating. When you close with us, you can be confident that we are vetted and verified, ensuring we are in good standing in the title and closing industry. Your protection is our priority! It’s an honor to receive this distinguished recognition, and we’re looking forward to continuing to elevate our industry. #secureinsight #closingagent #titleagent #riskrating #industryexcellence #harveydriggs #virginialaw #virginiastatebar #keithharvey #jimdriggs #johnmarkbecton #marykaitlynbrown #troybrown #hanovercounty #mechanicsville #richmond #rva #rvalaw #rvaattorney #richmondlawfirm #lawpractice #closings #realestateclosings #titlecompany #realestatelaw #businesslaw #wills #estateplanning #trafficdefense #duidefense

Thrilled to report that Trium Syndicate 1322 is the top performer among the five new underwriting platforms that entered the Lloyd’s market in 2023 reporting a solid 95.8% Combined Ratio in its first year of operation. 2023 was an ideal year to exercise heightened underwriting discipline and in 2024 Trium remain acutely focused on driving profitable growth at a time when malicious activity against companies of all sizes continues to grow at an alarming pace. Alongside cyber coverage, the syndicate provides complementary risk management advisory services and customised real-time loss mitigation services to drive rapid claims decisions and favourable loss outcomes and support its growth aspirations. Market stability and carrier commitment to the cyber line of business are both areas of client concern that Trium seeks to address and a solid Combined Ratio is the first piece of the puzzle in our strategy to reduce volatility. https://lnkd.in/e6ia6zwz

🏠 The ABCs of Escrow: Always Be Closing (Smoothly) 🏠 Dear escrow officers, if ABC stood for anything other than “Always Be Closing,” it’d be “Always Bring Coffee.” ☕️ Who else needs a caffeine boost to get through closing day? Let’s chat about our must-have survival tips for those marathon signing sessions. What’s your go-to trick to keep the process running smoothly? #EscrowEssentials #NotaryWisdom #ClosingDayHacks #RealEstateGiggles

🏡 In real estate, trust, precision, and security are everything. That’s why escrow is more than just a service, it’s the foundation of every successful transaction. But it’s our perfect alliances and dedicated team that take it to the next level. At TLA, we’ve created a security scheme that doesn’t just support our clients, it protects them 🔐. Our strategic partnerships and expert team ensure that every client feels fully backed and at ease, knowing they’re in the best hands. 🛠 With the right tools, partners, and people, we don’t just close deals, we build lasting relationships. That’s the TLA difference. 🤝

I’m delighted to have joined JLL, a leader in multifamily finance, where I focus on FHA origination and deal structuring. In this rate environment, where many loans are constrained by debt service coverage rather than cost or value, borrowers are continually searching for ways to increase their mortgage amount and reduce their cash to close. Yesterday, HUD published two Mortgagee Letters that will immediately help increase loan proceeds for FHA-insured multifamily transactions that have not yet reached initial endorsement. If you are looking to capitalize on HUD’s recent changes, now is the time to explore how these updates can benefit your next deal. 1.     Creation of a Middle Income Housing Option on 221(d)(4) Loans for New Construction or Substantial Rehabilitation Middle Income projects are defined as having 50% of units set to 120% Area Median Income (AMI) rent limits. There is no discount to market rent advantage required and the underwritten vacancy will remain at 7%. Debt Service Coverage (DSC) and Loan to Cost (LTC) ratios for these projects are eligible for new underwriting ratios of 90% LTC and 1.11X DSC improved from the prior 85% LTC and 1.176X DSC levels. 2.     Changes in Debt Service Coverage and Loan to Value and Loan to Cost Ratios In order to boost much needed housing supply, HUD has revised its underwriting ratios to help increase loan proceeds on affordable and market rate multifamily transactions. Updated LTV/LTC and DSC ratios for 223(f) refinance/acquisition and 221(d)(4) new construction/sub-rehab mortgages are as follows: 90% or More of Units with Project-Based Vouchers (Unchanged): Remains: 90% LTV/LTC, 1.11X DSC and 3% vacancy     Affordable Housing (Rents at LIHTC Levels and a 10% Discount to Market) New: 90% LTV/LTC, 1.11X DSC and 5% vacancy Previous: 87% LTV/LTV, 1.15X DSC and 5% vacancy     Market Rate Transactions New: 87% LTV/LTC, 1.15X DSC and 7% vacancy Previous: 85% LTV/LTV, 1.176X DSC and 7% vacancy Let’s connect and discuss how we can structure your project in light of these updates! Johnny.sears@jll.com

🏆 Hats off to Sadie for closing escrow! Your persistence and attention to detail make all the difference, and this success is well-deserved. Cheers to many more closings! 🥳🏡 #EscrowSuccess #RealEstateWin #ClientSuccess #reazrealty #reazseminars #thebusyagentsolutions

Curious about mezz foreclosures? You should be, it’s a hot topic in today’s CRE market. Find out our latest thinking on it, June 26, free webinar.

💼 Trust the Process: The MQA Way to Win 🏡 I love when people trust me with their real estate journey because they always walk away with more money in their pockets. Follow the MQA process and be the solution—let’s make sure you win today! 🌟 . . . . #BeTheSolution #MQAProcess #RealEstateSuccess #SellerWin #TrustTheProcess #HomeSellingTips

🔥 Igniting Excellence: Our escrow team’s service is on fire! Read this sizzling review from one of last month's closings. Way to go Pam Campbell! #stewartcares #escrow #closingprocess

Our next CRE webinar topic promises to be just as intriguing and informative as the last. #stewarttitle #stewart #cre #webinars