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b. Application and Approval Process (09/30/2016)
i. Title Identification Number
(A) Definition
A Title Identification (ID) Number is a number identifying a Closing Agent registered to perform closings on HUD REO sales transactions.
(B) Standard
The Closing Agent must complete a one-time registration to receive a HUD-issued Title ID Number. The Closing Agent must provide to the Asset Manager (AM):
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I. DOING BUSINESS WITH FHA B. Other Participants
7. Title I Property Improvement Dealers (05/09/2022)
• a copy of the Closing Agent’s state license; and
• a Closing Protection Letter (CPL) evidencing errors and omissions insurance coverage.
HUD will review the Closing Agent’s documentation and, if HUD approves, will issue a Title ID Number. The AM will notify the Closing Agent of the issuance of the Title ID Number.
ii. P260 Access
Once the Closing Agent has received a HUD-issued Title ID Number, the Closing Agent must contact the AM to request access to P260.