Escrow Agents | Loan Originators

Q: i’ve a dispute with another celebration to an agreement; can the escrow business keep my earnest money deposit?

A: You will need to review the contract terms dispute resolution that is addressing. The escrow company may be required to hold funds until the matter is arbitrated or there is an order entered by a court of law if there is a dispute

Q: how do i determine if that loan originator is certified in Arizona?

A: You can check always DIFI’s internet site under Look a licensee up you can also check out the National Mortgage Licensing System and Registry (NMLS ) by hitting their consumer access page .

Cash Transmitters

Q: What does money transmitter suggest?

A: A Money Transmitter is really a cash solutions company that works a true wide range of solutions. A Money Transmitter may offer or issue re re payment instruments ( ag e.g., checks, drafts, cash requests, traveler’s checks set up tool is negotiable). A Money Transmitter is also a cash solutions company that partcipates in the business of getting cash for transmission or transmitting money by any and all sorts of means, including yet not restricted to cost instrument, cable, facsimile or transfer that is electronic. Employing a cash Transmitter, clients may receive and send cash in the usa or to areas abroad. An individual can deliver cash by going to any participating socket, completing a cash transfer type and spending money on the transaction. The client getting the deal will not will often have to pay for a charge. DIFI regulates Money Transmitters under A.R.S. Title 6, Chapter 12, Article 1 and 2. §§6-1201-6-1242 .

Q: Does DIFI manage loan customizations for home away from continuing state of Arizona?

A: DIFI r egulates loans guaranteed by a home loan or deed of trust or any interest that is lien real-estate based in Arizona. DIFI implies that for those who have a problem regarding financing modification on a house not positioned in Arizona to get hold of the agency that is regulatory their state where in fact the home is based.

Sales Boat Loan Companies

Q: I have buyer’s remorse; can I cancel my car agreement within three days?

A: Unless there is certainly a three-day right of rescission written expressly to the agreement, there is absolutely no three-day right of rescission or “cooling-off” period under Arizona legislation.

Q: The dealer stated i must sign a second agreement; do we really need certainly to signal it if i actually do n’t need to?

A: No, you will need to follow the terms of the first contract in returning the vehicle you purchased and assume any obligations you agreed to in returning the vehicle, for instance, non-refundable deposit, any and all mileage, damage to the vehicle, etc if you choose NOT to sign a second contract.

Q: we traded in a car, and I also failed to be eligible for funding, does the dealer need certainly to return my trade-in car, whether or not they offered it?

Q: The used vehicle we purchased isn’t running appropriate even it“As Is” though I bought. Where may I grumble?

A: For performance problems, the Arizona Attorney General’s workplace could be of help.

Q: Does DIFI understand whom my lien holder is?

A: No, DIFI does not keep consumer information, such as for example agreements, documents, re payment records, etc.

Q: Can DIFI offer me a lien release on my automobile in the event that ongoing business may be out of company or we cannot see them?

DIFI might be able to offer you updated email address to phone the business for the lien release. In the event that financial obligation had been paid down over seven years back, the organization might not have the documents, or if perhaps the company is out-of-business or can’t be positioned for the lien release, please contact the Arizona Department of Transportation , car Division Title and Registration Section for guidelines and needs for receiving a bonded title .