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[+] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (4029 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4264 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3760 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (5043 views)

[+] Abstractor Fees - Tena Grice/TX (4 replies)
8/28/2009 11:40:47 PM (7202 views)




SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3338 views)

[+] Abstractor Watchdog - Nils Nelson/ME (3 replies)
8/27/2009 6:32:24 PM (4543 views)

[+] Service 1st Valuation and Settlement Services - VIVIAN SLYKER/OH (1 reply)
8/25/2009 3:16:23 PM (4661 views)

[+] Payment - Jana Urban-Buzek/OH (1 reply)
8/25/2009 12:15:50 PM (4303 views)

[+] Database Designed for Abstracting Companies - James Baker/AL (26 replies)
8/22/2009 10:18:57 PM (4538 views)

[+] Fico Scores - Jack Johanson/PA (2 replies)
8/21/2009 3:29:25 PM (3972 views)

[-] Mortgage Fraud the new target! - David Chisolm/MS (4 replies)
8/20/2009 2:51:56 PM (5158 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/22/2009 1:04:53 AM (5837 views)

David,

That is an interesting story.  I agree with you that the abstractor is probably the last party that should have suffered the claim.  When property is conveyed from an entity other than a natural person, there is additional due diligence required by the title agent.  This would include Articles if Incorporation, if applicable, a resolution by a board of directors, if applicable, trust agreement and all amendments thereto, whatever is necessary to ensure that the conveying party has the authority to do so.  Much of what is needed may not even be available to the abstractor.

It would be interesting to know how the LLC acquired title to the property in the first place.  Is there more to the story?

 

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Re: Mortgage Fraud the new target! - george Hubka/MI
8/22/2009 3:33:49 PM (5912 views)
Re: Mortgage Fraud the new target! - David Chisolm/MS
8/22/2009 3:48:17 PM (5764 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/23/2009 2:13:55 AM (5616 views)

[+] A big 'thank you' to the OAITA! - Robert Franco/OH (3 replies)
8/20/2009 9:58:47 AM (5408 views)

[+] A.I.T.F. Retrieval Services - Ray Glowniak/CA (8 replies)
8/19/2009 2:10:55 PM (5578 views)

abstractorleads.com - PJ/CA
8/19/2009 12:27:57 PM (4929 views)


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