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Your Parents Misinformed You: Two Wrongs Actually DO Make a Right

Two wrongs don’t make a right.  But two wrong deeds of trust sometimes do make a right deed of trust—at least that’s what one federal appeals court has decided in a Mississippi foreclosure case.

E-recording begins in Will County, Illinois

The Will County, Illinois Recorder’s office has implemented electronic recording (e-recording) through e-recording service provider Simplifile, the company has announced.

MBA Weekly Report: Mortgage Application Volume Decreases
Mortgage applications decreased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 12, 2014. 
Punctual Abstract
RealtyTrac: Foreclosure Filings Down Year Over Year for 50th Straight Month
Housing data provider RealtyTrac has released its U.S. Foreclosure Market Report for November 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — have decreased 9 percent from the previous month and are down 1 percent from a year ago — the 50th consecutive month with a year-over-year decrease in overall foreclosure activity.
Quick links
4th Circuit Rules Executed But Unrecorded Security Interest Has Priority Over IRS Tax Lien (Maryland)
On October 31, 2014, the U.S. Court of Appeals for the 4th Circuit interpreted Maryland law in ruling that a bank's security interest in a Chapter 11 debtor's property created by a deed of trust that was executed before, but recorded after, the Internal Revenue Service filed a tax lien, had priority over the tax lien.
Federal Housing Administration in the Black for First Time Since 2011
The slow pace of recovery could hamper the agency's efforts to boost the housing recovery, however.
Borrowers, Beware: The Robo-Signers Aren't Finished Yet
Robo-signed foreclosure documents may interfere with Fannie Mae's recent push to get deficiency judgments on thousands of Florida borrowers.
End of Fed bond buying may nudge mortgage rates
The Fed's withdrawal from the Treasury market could have a bigger effect if the economy heats up.
Six people accused of stealing dead woman's house.
Six men-- including a probate lawyer, a real estate agent, and two funeral directors-- have been charged in a scheme to steal a dead South Philadelphia woman's rowhouse and car.
MBA: Mortgage Credit Easier to Get in November
Mortgage credit availability increased in November according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that measures how easy (or difficult) it is for mortgage borrowers to get credit.
Outside the Chain of Title

Is a purchaser of property bound by an encumbrance that is recorded but is not indexed or referenced by any recordings in the property owner's chain of title? It apparently depends on what state you're in.

A Duty to Defend a Non-Title Related Claim
As we’ve discussed before, courts have generally ruled that title insurers have a duty to defend a lawsuit against their policyholder if and only if the lawsuit makes a claim that, if proved true, would be covered by the policy. Usually, this means that a title insurer must only defend claims adverse to a policy-holder’s title. But in a recent federal case, a title insurer’s own actions may have turned a non-title claim into one that it had a duty defend.
Court Hauls CEOs Into Court Over Dispute Involving No-search Title Insurance

A federal court has ordered the CEOs of First American and U.S. Bank to personally attend a settlement conference, in a dispute over hundreds of title insurance claims on no-search title policies that U.S. Bank says were improperly denied.  The court's step of ordering the CEOs to attend the settlement conference is unprecedented.

A Title Insurer's Duty to Defend Non-Title Claims in a Title Lawsuit

Title insurers have a duty to defend policyholder when they are sued for matters that can impair the policyholder's title in a way that the policy covers.  But if the lawsuit contains other claims against the policy holder that do not involve title, does the title insurer have to defend those too?

"About that three-story tattoo parlor you're building next door..."

Title insurance does not cover all items in the public record that are adverse to the buyer; rather, title insurance covers what the policy says it covers.  Thus, it is possible to have title insurance and yet be underinsured.  This can lead to unfortunate situations where matters of record inhibit a buyer's plans for a property but do not give rise to coverage.

On the Blogs

Chilling the Bid
William Pattison 's Blog
2014/12/15
0 comments

Bankrutcy Protection for Foreclosure Investors
William Pattison 's Blog
2014/12/07
0 comments

San Mateo County Advances Anti-Business Plans
William Pattison 's Blog
2014/11/12
3 comments

Custodian of Records
William Pattison 's Blog
2014/11/03
0 comments

Standards and Practices of Foreclosure Investors
William Pattison 's Blog
2014/10/20
1 comments

Abstracting soundtrack
Teresa Wright's Blog
2014/10/20
3 comments

Camera on Foreclosures: The Dirty Little Cheaters
William Pattison 's Blog
2014/10/11
2 comments

NOT Indexing by legal description - YIKES!!
Teresa Wright's Blog
2014/10/09
10 comments

When is a lien not a lien?
CHARLENE PERRY's Blog
2014/08/28
1 comments

Third party vetting issue rears it's ugly head again
CHARLENE PERRY's Blog
2014/08/15
2 comments

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