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Washington Supreme Court: No Cause of Action for Negligent Recording for Third Parties
The Washington Supreme Court has held that a title company cannot be liable for negligent recording of a document to a plaintiff who was not a party to the document, in a case where a title company recorded an unauthorized second mortgage that facially violated a term in the first mortgage that it had also recorded.
Pennsylvania Man Indicted in Massive Title and Mortgage Fraud Scheme
George Barnard, 45, of Newtown Square, Pennsylvania, owner of a mortgage lending business and several title companies, has been indicted and charged with 24 counts of wire fraud, four counts of bank fraud, and three counts of filing a false tax return in relation to an alleged $13 million dollar mortgage scheme that Bernard allegedly perpetrated through the use of his title companies.
AccuSearch Company
WFG National Title Adds Agency Sales Rep for Midwest Region
WFG National Title Insurance Company has added Matt Hood as Agency Sales Representative for Ohio and Illinois within its Midwest Agency region.
NAR: Existing Home Sales Rise for Fourth Consecutive Month
Boosted by a greater share of sales to first-time buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors. Only the Northeast saw a decline in closings in June, and sales to investors fell to their lowest overall share since July 2009.
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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.
MBA Weekly Report: Mortgage Applications Decrease Slightly
Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 15, 2016. The prior week's results included an adjustment for the July 4th holiday.
Professional Liability Insurance and Theft of Escrow Funds by a Third-Party Impostor
Are title agencies covered by their professional liability insurance policies if they are tricked by a clever hacker into disbursing money from escrow into the hacker’s account? Perhaps not. A New Jersey title insurer was tricked into wiring over a half-million dollars to a sneaky impostor, and its insurer isn’t paying on the agent’s professional liability policy.
Title Defects That Cause a Borrower to Default, vs. Those That Do Not, Part II

When a title insurance defect causes a borrower to default—as in when a defect destroys a developer’s plan to develop a property, rendering the developer unable to repay the development loan, the title insurer may be let off the hook for some of the developer’s actual loss if market values have declined by the time the lender forecloses, depending on the state.

Welcome to the Neighborhood!
A man bought a piece of property, with a garage, carport, and shed that straddled the property line with the adjoining parcel. On the day the man’s deed was recorded, his neighbor destroyed the part of the garage that was over the property line with a chain saw… leading, quite unsurprisingly, to some litigation.
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.
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.

On the Blogs

Current Owner Search
swarup swain's Blog
2016/07/24
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
0 comments

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