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Title Defects That Cause a Borrower to Default, vs. Those That Do Not
In the event of a title defect covered by a title insurance policy, the dollar amount of a title insurance claim is often determined by the difference between the current fair market value of the property with the defect, and what the property would be worth currently if it did not have the defect. But an exception to that general rule exists in certain situations, as a recent Arizona Supreme Court case illustrates.
CoreLogic: Completed Foreclosures Down 15.8% Since Last Year
Housing data provider CoreLogic has released its April 2016 National Foreclosure Reportwhich shows the foreclosure inventory declined by 23.4 percent and completed foreclosures declined by 15.8 percent compared with April 2015.
Capitol Lien
First American: Housing Market Performing Closer to Full Potential
First American has released its Potential Home Sales model for the month of May 2016, showing that the market for existing-home sales is underperforming its potential by 2.8 percent-- an improvement over last month’s underperformance gap of 4.1 percent.
MBA Weekly Report: Mortgage Application Volume Declines Modestly
Mortgage applications decreased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 10, 2016. The previous week's results included an adjustment for the Memorial Day holiday.
Quick links
The Fed Holds Off On Rate Hike: Here's What It Means For Your Wallet
The Federal Reserve held off on another interest rate hike today at its Federal Open Market Committee meeting, giving consumers who are saddled with consumer loans more reprieve.
Williams Title closes abruptly amid state investigation
A 15-year-old Cherry Creek title company under investigation by state regulators has abruptly closed.
The Unexpected Costs of Title Insurance Reports
It seems title insurance companies are underestimating their reporting costs by a big margin.
Consumer agency takes aim at deals that cost home buyers extra money
Home buyers usually don't have a clue about the existence of under-the-table marketing kickback deals, and they can end up paying hundreds or thousands of dollars extra at closings as a result.
Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default
A study purports to show that strategic defaults rarely occur.
The Incompetent Attorney Who Was Unintentionally Cruel to Animals

If an incompetent attorney drafts a will that fails to convey property as intended, the winners and losers in subsequent litigation will vary dramatically depending on the state. This is illustrated by a recent Virginia case, where an attorney drafted a will that was supposed to give all of the person’s estate to a non-profit, but in fact only gave the person’s tangible personal property to the charity, and failed to give the non-profit the person’s real estate and intangible property to the charity.

The Court that Wanted to Allow the Bank to Foreclose, Really Badly

Appeals courts are higher on the food chain than trial courts, which means that trial courts have to do what appeals courts tell them to do. Nevertheless, sometimes trial courts just ignore what an appeals court has told them to do or not to do, as happened in a recent Indiana foreclosure case.

Maryland Courts: No Private Right of Action in Anti-Kickback Law

Just because a law exists, someone violates that law, and you suffer negative consequences as a result does not mean that you can sue the person who violated the law—as plaintiffs who sued a title company and lenders under a Maryland anti-kickback statute learned last week.

The Basic Principles of Betterment
Sometimes, when people build things on land that make the land more valuable, they do so under a mistaken belief that they own the land they are improving, when in fact someone else actually owns the land. Does the true owner get to keep the valuable improvements without compensating the person who mistakenly improved the property? The answer is, of course, it depends, but some basic principles are common to most states.
Stuck With Each Other
Sometimes, people who jointly own a piece of property no longer get along, and one of the joint owners wants to split the property rather than own the whole thing jointly. Laws exist to take care of this situation in most cases, but sometimes, the estranged joint owners may find themselves stuck with each other, as happened in a recent Indiana case.
South Carolina Supreme Court: Rubber Stamp Closing Attorneys Are Violating Ethical Rules
In states where only attorneys may close real estate transactions, there may be a temptation to cut costs by limiting the attorney’s participation to cursory reviews of the transaction that appear to be more of a “rubber stamp” than true oversight that ensures the integrity of the transaction. The South Carolina Supreme Court recently pushed back against rubber stamp attorneys.
On the Blogs

Vantage Land Title, Inc Ohio Non-Payment
Wayne Brown's Blog
2016/06/20
0 comments

Title Industry tasked with identifying money launderers
CHARLENE PERRY's Blog
2016/01/14
0 comments

TRID and it's impact on abstractors
CHARLENE PERRY's Blog
2015/10/05
3 comments

9th Circuit Reverses; Suit Goes Forward re: Mtg Loan Debt Collectors
john gault's Blog
2015/07/20
1 comments

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

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

Independent Abstractors: Making Peace With Technology (Part Two)
Thomas Pryde's Blog
2015/03/26
1 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
1 comments

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