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Property Flips Are Coming Back

With the very high number of foreclosures, there are a lot of good deal to be had by investors looking to make a quick profit from flipping a home.  However, if the buyer is using FHA financing, the investor had to hold the property for at least 90 days before he could flip it.  That has changed with a new announcement from HUD.

Two Former Mercury Companies to Be Merged into Fidelity National Title

Two Colorado-based title companies purchased by Fidelity National Financial in 2008 will be merged into its Fidelity National Title subsidiary, the company said in a statement Monday.

AccuSearch Company
Alleged Evidence Against Basketball Star Damning in Indiana Escrow Theft Case

If the allegations made by Allen County Indiana prosecutors are true, former Indiana University basketballer Todd Leary has a lot of explaining to do regarding his role in the disappearance of over $2.7 million in funds that was supposed to be used to pay off the mortgages of 15 Fort Wayne Indiana homebuyers and refinancers.

Model Notary Act of 2010 Establishes New Standards Of Care For Office Of Notary Public

Amid important legal cases involving Notaries, and with liability and compliance issues becoming a major concern for businesses and governments, the National Notary Association has published a much-anticipated revision of its Model Notary Act — the landmark model that, for 40 years, has grown in importance as a guide for lawmakers to improve standards of care for Notaries.

Quick links
FBI builds its case in flipping schemes
Informer fingers over 30 co-conspirators in Tampa, Florida area fraud; those under investigation have defaulted on over $123 million in mortgages, according to Sarasota Herald Tribune
Appraiser: Home Prices Will Continue To Drop
Home prices continue to fall and will keep falling, driven down by the sheer number of foreclosures on the market, according to one local appraiser.
Why Servicers May Bite Bullet This Year
A discussion of the factors involved in whether the "shadow inventory" of REO properties will hit the market sometime this year.
Big Banks Accused of Short Sale Fraud
Second lien holders, including many of the biggest banks, demanding off-HUD payoffs in return for allowing short sales.
Lenders bypassing mortgage reforms
Report in Danbury, CT News-Times claims that lenders are using "worksheets" and "loan scenario" forms that appear similar to the new "Good Faith Estimate" which became required by law on January 1st.
Demand for Accurate Valuation of Distressed Property Spurs PACEplus

One striking indicator of the mortgage industry’s change of focus may be that the accurate valuation of distressed properties will be a critical path to success for many in 2010 and beyond.

Ex-Basketball Star Arrested for Allegedly Pocketing Escrow Funds

Todd C. Leary, a former Indiana University basketball player who played on a team that advanced to the NCAA Final Four in 1992, was arrested and booked into a Fort Wayne, Indiana jail Thursday night on charges that he was involved in a scheme to misappropriate over a million dollars of funds that were supposed to be held in escrow.

Colorado Seeks to Regulate Appraisal Management Companies

A recent article on Source of Title, Abstractors Should Be Watching New Legislation Regulating the Appraisal Industry, examined the appraisers accomplishments in seeking protections from the practices of appraisal management companies (AMC) at the federal level.  But some aren't waiting for federal legislation.  The Colorado senate has introduced a bill that would protect appraisers' rights to prompt payment and full disclosure of the fees charged by middlemen, among other protections.

On the Blogs

A "W"-Shaped Recovery and How to Survive Hard Times
William Pattison 's Blog
2010/02/08
The economy is improving every day: just watch the nightly news and a plethora of politicos will feed you this fact. They'll fastidiously tell you this, never...
1 comments

Is it a valid mortgage or not?
TitleSearchBlog.com
2010/02/06
Property title claims, and the process of title abstracting are based on the mechanism of notice. Ownership, mortgage interest, and claim of lien can only attach to a property when there is notice t...
2 comments

Targeted National Marketing: It beats the Yellow Pages
Source of Title Blog
2010/02/04
It has been a while since my last blog about our enhanced listing services. I still get a lot of questions about how it works and what the benefits are, so I thought it would be a good idea to explai...
3 comments

10 Mistakes in a Recession
Timely Document's Blog
2010/02/03
I found this concise article earlier and think it makes some good points. This is written by acclaimed author and speaker: Grant Cordone. Recessions cause the economy to contract and make it more dif...
3 comments

AIG IS AT IT AGAIN
CHARLENE PERRY's Blog
2010/02/02
AIG plans to pay another round of employee bonuses worth about $100 MILLION DOLLARS ...
9 comments

Privacy's End: Deductive Systems Herald the Ability to Find You with Ease
William Pattison 's Blog
2010/02/01
When it comes to privacy in the digital age, the individual's right to privacy is constantly a matter of remaining proverbially silent in a shouting world. Our technology shouts out to the world as...
0 comments

RECORDATION TAXES ON SHORT SALES
CHARLENE PERRY's Blog
2010/01/28
Maryland County tries to assess transfer taxes on the forgiven debt in a short sale...
0 comments

Title errors from the housing bubble are starting to emerge
TitleSearchBlog.com
2010/01/25
The title errors from the housing bubble starting to become evident. In two cases this month, the issue of broken chains of mortgage assignments are creating questionable ownership rights. The routine...
1 comments

Who Should Pay For The Owner's Policy?
Source of Title Blog
2010/01/18
There are certainly variations in custom from state to state, and even county to county. In some locations, the seller is required to furnish an owner's policy to the buyer, in others the buyer pays ...
4 comments

Oversight: No Power of Attorney Filed
Source of Title Blog
2010/01/16
I was recently given a copy of an affidavit that raised an interesting topic for discussion. Where a deed is signed by an attorney-in-fact, but no power of attorney was ever recorded, can the matter ...
7 comments

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Lumar Docs
December 24 2009
Contact us for all your abstracting needs! We are an independent, home-grown search company with 15+ years of experience.

We cover ALL New Jersey counties,

5 Florida counties:

Pinellas, Marion, Miami-Dade, Clay and Broward

and 5 Maryland Counties:

Anne Arundel, Baltimore County, Baltimore City, Carroll and Howard

We are able to perform document retrievals in the entirety of Maryland.

We are starting to open up Pennsylvania, and right now covering Dauphin County only.

We provide immediate response by phone or e-mail.

Please call or e-mail for fees (all negotiable by volume of order).

24-hour turn time on all orders, except Full Searches (2-3 days).

E&O covered.

Phone: 727-474-7978

E-mail: lumardocs@gmail.com



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