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Court: Title Insurers Should Bear The Loss on Missed Liens in Refinances

The Supreme Court of Mississippi has struck two significant blows to refinance lenders who want to be placed automatically in the priority position of the lien they pay off when they are careless and miss an intervening lien.  But the biggest blow was delivered to title insurers.

NALTEA 2014 Conference

Sovereign Citizens Convicted of Filing False Liens against Prosecutors, Judges, Others

A federal jury in Omaha, Nebraska, has found a man guilty of seven counts of conspiracy to file and filing false liens against two U.S. District Court judges, the U.S. Attorney for the District of Nebraska, two Assistant U.S. Attorneys and an Internal Revenue Service (IRS) special agent, a month after his co-conspirator was convicted of similar charges.

MBA Weekly Report: Mortgage Applications Plummet 7.2%
Mortgage applications decreased 7.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 5, 2014.  This week’s results included an adjustment for the Labor Day holiday. The refinance index hit its lowest level since 2008.
Punctual Abstract
RealtyTrac: Foreclosure Crisis "Well Behind Us"
Housing data provider RealtyTrac has  released its U.S. Foreclosure Market Report for August 2014, which shows foreclosure filings increased 7 percent from the previous month. Annually, foreclosure filings decreased by the smallest amount in the last 47 consecutive months, and scheduled foreclosure auctions actually increased 1% annually, the first annual increase registered in the past 44 months.
Quick links
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
New suit alleging kickbacks should be "wake-up call" for brokers: analysts
A new federal court suit alleging kickback violations by one of the country's top-producing real estate sales teams raises an unsettling question for homebuyers.
Court abstractor accused of stealing records sentenced
A courthouse researcher charged with taking official records from the Columbia County Clerk of Superior Court's office last summer pleaded no contest to a trespassing charge and was sentenced to probation.
Florida Title Agent Arrested in Mortgage Fraud Scheme
A Melbourne, Florida Title Agent was arrested along with a Maryland CPA in a multi-million dollar mortgage fraud scheme.
Former San Fran Fed Employee Threatened To Murder Ex-FHFA Head Ed DeMarco
A high level executive at the FHFA, the regulator of Fannie Mae and Freddie Mac, is accused of threatening to kill the former head of the agency.
NAR Pending Home Sales at Highest Level Since August 2013
Pending home sales rebounded in July and have now risen in four of the last five months, according to the National Association of Realtors. All major regions experienced healthy gains except for the Midwest, which saw a slight decline.
RealtyTrac: Less Homes Selling than Last Year
Data recently released by housing data provider RealtyTrac shows home selling at a slower annualized pace than at this time last year.  Most markets are showing lower price appreciation than last year as well.
How to Invest $100,000 and End Up with Absolutely Nothing

This week, we look at another case where an investor bought a property from a seller who did not hold title.  Once again, believing he owned it, the buyer fixed up the property.  And once again, the real owner later showed up and sought to assert its claim to title to the now improved property.  Only this time, because of one critical difference-- the lack of a title search, of course!-- the outcome was different, and even worse, for the investor.

CoreLogic: Home Prices Rise on Yearly and Monthly Basis
Housing data provider CoreLogic has released its July Home Price Index (HPI) report, showing that home prices nationwide, including distressed sales, increased 7.4 percent in July 2014 compared to July 2013. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July compared to June.
How to Become Roommates with a Banker

A Washington case involving a title fraud by a third party has left a defrauded investor and a bank in an unusual position where they will become tenants in common in a property.

"That trust is really just me!"

Property owners who convey their property to a living trust or a business entity they own may inadvertently terminate their title insurance, and may be out of luck if a title claim arises.

Your Spouse Can Mortgage Your Property Without Your Signature?

Can your spouse unilaterally mortgage your jointly owned property without your express consent via your signature?  In an Oregon case, the answer to this question was "Yes".

MERS Must Record Mortgage Assignments in Pennsylvania

A ruling last month from a Federal District Court in Pennsylvania ruled that MERS members have violated the law by failing to record assignments when mortgages are conveyed between MERS members. 

Kentucky court, to purchasers: "Do a thorough title search."

Despite the ruling in the case we discussed last week, it would not be safe to assume that you buy a property free and clear of any encumbrances that are not found through a current owner search, as is made clear in a recently decided Kentucky case.

On the Blogs

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
0 comments

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

Name Runs: A Brief Lesson
William Pattison 's Blog
2014/07/21
3 comments

Adding a blank 1st Page Cover Sheet to recordings- Maryland
CHARLENE PERRY's Blog
2014/07/07
4 comments

Are you a Digital Criminal?
William Pattison 's Blog
2014/06/06
0 comments

Privacy vs. the Public Record
William Pattison 's Blog
2014/05/30
3 comments

Punished for trying to fix a flawed mortgage
Slade Smith's Blog
2014/05/27
6 comments

Ohio's H.B. 201 Gets My Vote for Worst Bill of the Year
Source of Title Blog
2014/05/06
0 comments

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