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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.

Title Alliance Announces Integration of NextDeal Technology
Title Alliance has announced that it is implementing NextDeal technology in affiliate offices nationwide. NextDeal is a sales product designed to help title businesses increase revenue by capturing repeat business by identifying when a former customer is returning to the housing market.
MBA Weekly Report: Application Volume Increases 4.9%
Mortgage applications increased 4.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 14, 2014.  This week’s results included an adjustment for the Veterans Day holiday.
Punctual Abstract
RealtyTrac: Home Flipping at Lowest Level in Five Years
Housing data provider RealtyTrac has released its Q3 2014 U.S. Home Flipping Report, which shows that flips represented 4.0 percent of all U.S. single family home sales, down from 4.6 percent in the second quarter of 2014 and down from 5.6 percent in the third quarter of 2013 to the lowest level since the second quarter of 2009.
Quick links
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.
City, HCW get $90M policies in Landing lawsuit
The city of Branson, Missouri and a development company have reached a settlement with title insurers in a long-standing, high-dollar title dispute
RealtyTrac: Foreclosure Activity Increased Sharply in October
Housing data provider RealtyTrac has released its U.S. Foreclosure Market Report for October 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — increased by15 percent from the previous month, the largest month-over-month increase since U.S. foreclosure activity peaked in March 2010.
NAR: Existing Home Sales Rise on Lower Interest Rates, Job Market Strength
Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors.
FLTA Picks Stein as President for 2015
W. Jeffry Stein, Esq., Florida Counsel and Vice President for Alliant National Title Insurance Company , has been elected to serve as the President of The Florida Land Title Association (FLTA) for 2015.
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.

The Holy Grail of Lending Fail: Getting the Mortgage AND Note Wiped Out

When a bank makes a mortgage loan but does not get a properly drafted and validly executed mortgage, the bank may be unable to foreclose on the property it intended to secure the underlying promissory note, but it can still get a judgment against the borrower on the note.  However, in a recent case, further missteps in the foreclosure action on a fatally flawed mortgage ended up effectively wiping out the note as well.

Better to be Lucky than Good

A title company totally botched its handling of a transaction on an Idaho property.  As a result, the buyer did not get title to a large parcel he believed he was getting.  But this time, the title company got lucky.

On the Blogs

San Mateo County Advances Anti-Business Plans
William Pattison 's Blog
2014/11/12
2 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

Non Public Information and title agents
CHARLENE PERRY's Blog
2014/08/14
1 comments

Legacy
William Pattison 's Blog
2014/07/22
2 comments

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