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Failure of a Quiet Title Action to Dispose of Doubtful Mortgage Claims

Quiet title actions are designed to allow a property owner to clear the title to their property by ridding it of possible claims by others to an interest in the property.  But quiet title actions may not be effective to get rid of doubtful mortgage claims in some states, as illustrated by a recent federal case involving a Rhode Island property.

NAR: Pending Home Sales at Highest Levels in Over Nine Years
Pending home sales continued to rise in May and are now at their highest level in over nine years, according to the National Association of Realtors. Gains in the Northeast and West were offset by small decreases in the Midwest and South.
AccuSearch Company
Interthinx: Mortgage Fraud Declined 4% in 2014, Halting Four Year Rise
Risk management solution provider Interthinx has released its annual Mortgage Fraud Risk Report, which shows a 4 percent decrease from 2013 that signals a halt in the gradually rising trend observed in the previous four years.
MBA Weekly Report: Applications Dry Up As Interest Rates Rise
Mortgage applications decreased 4.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 26, 2015. Interest rates reached their highest point since October of last year.
Quick links
http://mortgagefraudblog.com/%e2%80%a2former-title-company-owner-heads-prison-bank-fraud-conspiracy/
Kirk Smith, Harris County, Texas, has been ordered to prison following his conviction for defrauding seven different Houston, Texas-area banks of more than $2 million in 2007 and 2008.
A Comment on House Prices: Real Prices and Price-to-Rent Ratio in December
Some experts say that the housing recovery is "faltering". Bill McBride, aka "CalculatedRisk, disagrees.
Can That Easement Stand?
Short answers to some common questions that arise when a pipeline company seeks to use an old easement for new pipeline construction.
POINT OF VIEW: Misunderstanding Imbued Title Insurance Industry
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.
If You Find a Statute That Favors Your Opponent, Keep Looking
Laws must be read in context. In a legal dispute, it is often possible to find a law that, viewed in isolation, seems to favor one side, but when another law is found and taken into account, it may become apparent that the other side must prevail. A pending Ohio Supreme Court case involving a defective acknowledgment on a mortgage illustrates this principle.
NAR: Existing Home Sales Hit Six-Year High in May
Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors®. Led by the Northeast, all major regions experienced sales increases in May.
RealtyTrac: Foreclosure Activity Reached 19-Month High in May
Housing data provider RealtyTrac has released its May 2015 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1 percent from the previous month and up 16 percent from a year ago to a 19-month high.
Choosing Not to Pay Actual Losses
Under standard title insurance policies, when a title insurer elects to cure a title defect, it typically avoids having to pay its insured for any monetary losses caused by the defect-- often leading to rather unsatisfactory results for policy holders who discover title defects when they try to sell their property.
Federal Appeals Court Dismisses Kentucky County Recorder Lawsuit Against MERS
The federal 6th Circuit Court of Appeals has upheld a lower court’s dismissal of a lawsuit brought by counties seeking damages against MERS and it members for failure to record mortgage assignments and pay the associated fees.
"Sorry, We Can't Record That."
County recorders generally have very limited discretion when it comes to refusing to record a land title document. Despite any policies that individual recorder may have as far as refusing to record certain documents, if a recorder refuses t to record an instrument that satisfies the usually very limited requirements that the state has for recordability, the recorder can probably be forced to record the document.
The Many Uses of a Road
Courts usually follow the plain meaning of the language in land title documents, when the meaning is not ambiguous. But courts routinely award rights of use to easement holders that are clearly not within the plain meaning of the allowed uses described by the easement.
Bad Fences Make Bad Neighbors

From time to time, we have explored the depths to which some landowners sink when they can’t get along with a neighbor. This time, we look at a recent Maine case where a bad neighbor built especially tall and ugly fences to stick it to a hated neighbor.

On the Blogs

"India" is not the problem
Thomas Pryde's Blog
2015/04/16
10 comments

Independent Abstractors: Well Trained Specialists (Part Three)
Thomas Pryde's Blog
2015/04/09
0 comments

Independent Abstractors: Making Peace With Technology (Part Two)
Thomas Pryde's Blog
2015/03/26
0 comments

Independent Abstractors: Dying Breed or Valued Specialists? (Part One)
Thomas Pryde's Blog
2015/03/19
2 comments

Introductions
Thomas Pryde's Blog
2015/03/10
0 comments

Reconstruction of Past Persons
William Pattison 's Blog
2015/02/20
0 comments

Violations of Professional Codes
William Pattison 's Blog
2015/02/16
3 comments

The Deed of Trust Trustee, Laws, and the Constitution
john gault's Blog
2015/02/08
5 comments

An End to Outsourcing & Off-Shoring of Title?
William Pattison 's Blog
2015/02/03
9 comments

Civil Records, Probate, Title and Same Sex Marriage Collide at Supreme Court
William Pattison 's Blog
2015/01/28
14 comments

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