Real Property Committee

August, 2007

The Mortgage Lending Committee

Two particular issues that the Committee has been working on are recent cases regarding prepayment charges and changes to ACORD forms regarding property insurance. The Committee presented a seminar on the prepayment issue at the Spring Meeting in Washington, DC, and held a telephone conference on this subject on May 8, 2007. In regards to the ACORD insurance issue, the Committee held a telephone conference on March 2, 2007 and published an article on this topic in the April 2007 issue of the RPPT eReport. The Committee also is a participant in the ACORD working group that is working on revisions to the ACORD 28 form. Weekly updates on the status of this project are posted on the Mortgage Lending Committee website, along with copies of the relevant forms and other background materials. The Committee will be presenting a program about tenancy in common and financing issues at the Section’s Fall meeting in Vancouver.