JW Surety Bonds

New mortgage programs open options for borrowers

Telstar Logistics / Foter / CC BY-NC

 

Since November 2013, mortgage credit has been gradually increasing, according to the Mortgage Bankers Association.

0.44% is the increase of the mortgage credit availability index, reaching 113.5 in February. The index was launched in March 2012 at 100. For reference, if it existed in 2007, it would have been 800.

With the new Consumer Financial Protection Bureau regulations, there are changes for ARM loans. For their first five years, they must qualify at the highest allowable rate. This has led to many investors pulling back the 3/1 ARMS loans, whose interest rate adjusts after 3 years.  Lenders and investors added 5+year ARM loans as well, which led to the net increase of the index, even though the 3/1 loans were discontinued.

Read the source article at U.S. Housing Finance News

The Ultimate Texas Bonded Title Guide

It’s time to get a proper title for your motor vehicle in Texas

Are you planning to register, sell or get insurance for a motor vehicle without a valid title in the State of Texas? If so, you will need a Texas bonded title.

You are the legal owner of your vehicle only if you have a certificate of title. Whenever there is a change in ownership, you need to do a title transfer. By changing the title, the previous owner of the vehicle will be protected from any legal violations committed by the new owner. At the same time, as the new legal owner you will then have all rights to the vehicle.

In case your motor vehicle is without a valid title (that is, in case you don’t have acceptable evidence of ownership), you will need to obtain a Texas bonded title. It acts as a temporary replacement for the title and gives you the right to conduct legal transactions with your vehicle. So, how can you get a bonded title in Texas?

When do you need a bonded title?

Does your motor vehicle have a certificate of license?

Does your motor vehicle have a certificate of title?

Let’s say you have a motor vehicle but you don’t have all the paperwork for ownership. Maybe you did not receive the right evidence of ownership or you lost it. If you don’t have a valid title for your vehicle, you cannot prove you legally own the vehicle. And without a title you cannot register the car with the Texas Department of Motor Vehicles, obtain insurance or sell the vehicle.

But there is an answer to your problem – all you need to do is get a bonded title to replace the regular one. There are three requirements for this:

  • You need to be a Texas resident.
  • The motor vehicle’s last registration should also be in this state.
  • The vehicle should be in your possession and not involved in any pending lawsuits.

 

dmv

 

If you meet these three prerequisites, you can submit your documents to a TxDMV Regional Center. You should provide a completed Statement of Fact for Bonded Title (VTR-130-SOF) and a Statement of Physical Inspection (VTR-270), as well as supporting evidence of ownership (bill of sale, invoice, cancelled check or similar), the $15 Bonded Title Application fee and a photo ID.

Get a surety bond

If the Texas DMV approves your initial application, you will receive a letter with the amount of the required surety bond, which is equal to 1.5 times the vehicle value.

With this letter and any other documents provided by the TxDMV Regional Center, you can apply for a Texas certificate of title bond with JW Surety Bonds. The DMV letter expires one year after its issuance.

The Texas certificate of title bond is not a protection for you. It is a protection for the general public and guarantee that you are indeed the owner of a vehicle without a proper title, which is especially important in the event you want to sell it.

Apply for a bonded title

Within 30 days after you have gotten your title bond, you need to visit your county tax office with all documents required above along with the original TxDMV letter. You have to provide a completed Application for Texas Title (Form 130-U), a weight certificate (for commercial vehicles or trucks), a Vehicle Identification Certificate (Form VI-30) (for previously titled out-of-state vehicles), a Customs Document (HS 7) (for imported vehicles), and a photo ID.

After completing and submitting all relevant documents and obtaining proper bonding, you should be granted a bonded title for the vehicle.

 

We hope this quick summary of important information about the Texas bonded title option will make going through the process much smoother and easier. If you are ready to get started, you can apply for a title bond and get an instant approval today.