NAMB in the news

MBA, ALTA and AEA standardize closing instructionsMortgagePress.comMortgage closing guidelines The Mortgage Bankers Association (MBA), American Land and Title Association (ALTA) and American Escrow Association (AEA) have announced that they have developed uniform closing instructions to be used in future mortgage transactions. The new instructions will detail the requirements for all transactions and provide a standard format for the details of each transaction, including borrowers' names, property address, loan type, etc. The instructions will be reviewed by members for comment. The MBA, based in Washington, D.C., is a national trade association that represents the real estate finance industry. For more information, call (202) 557-2700 or visit www.mbaa.org. ALTA, based in Washington, D.C., is a national trade association that represents the abstract and title insurance industry. For more information, call (800) 787-2582 or visit www.alta.org. AEA, based in Alexandria, Va., is a national trade association that represents the settlement and escrow industry. For more information, call (703) 519-1240 or visit www.a-e-a.org.