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Better to be Lucky than Good

A title company totally botched its handling of a transaction on an Idaho property.  As a result, the buyer did not get title to a large parcel he believed he was getting.  But this time, the title company got lucky.

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Stewart Ups Profit Despite Lower Revenue

Stewart Information Services Corporation has reported a profit of $23.7 million, or $0.97 per diluted share, for the third quarter 2014, compared to a profit of $0.63 per diluted share in the same quarter a year ago, even though revenues of its title insurance segment dropped by nearly ten percent over the same period.

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NAR: Existing Home Sales Hit High for Year in September

After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors.  All major regions except for the Midwest experienced gains in September.

MBA: Mortgage Volume Expected to Increase By 7% in 2015
The Mortgage Bankers Association has announced that it expects to see $1.19 trillion in mortgage originations during 2015, a seven percent increase from 2014.  While MBA anticipates purchase originations will increase 15 percent, it expects refinance originations to decrease three percent.
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End of Fed bond buying may nudge mortgage rates
The Fed's withdrawal from the Treasury market could have a bigger effect if the economy heats up.
Six people accused of stealing dead woman's house.
Six men-- including a probate lawyer, a real estate agent, and two funeral directors-- have been charged in a scheme to steal a dead South Philadelphia woman's rowhouse and car.
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.
MBA Weekly Report: Refinances Increase as Rates Drop
Mortgage applications increased 11.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 17, 2014. Interest rates fell to the lowest levels since May of 2013.
Pennsylvania Attorney Title Agent Indicted on Fraud Charges
The attorney-owner of an Avoca, Pennsylvania title business, GK Abstract Co., Inc., has been indicted on fraud charges on allegations that she falsely represented to buyers and lenders that she procured title insurance in dozens of transactions.  In fact, her agency agreement with her underwriter had been terminated and she simply pocketed the money, according to the indictment.
Ohio Supreme Court: Homeowners Can't Challenge Old Foreclosures on Standing

The Ohio Supreme Court has resolved a major question that has put into question the status of title of thousands of homes that have been subject to foreclosure judgments.

Georgia Supreme Court Removes All Doubt: Witness-only Closings are Illegal

The state of Georgia has required real estate closings to be conducted by attorneys since the 1930s.  But this has not stopped the prevalent usage of "witness-only closings," where an attorney is present at the closing but does not conduct it.  This has changed recently, as the Georgia Supreme Court has issued an advisory opinion that states that a lawyer can't ethically participate in a witness-only closing.

"Try adding a couple zeroes to the number on that check!"
The value of a title insurance claim can vary by orders of magnitude, depending on the perspective from which the claim is viewed. In a recent Missouri title insurance dispute, the title insurer maintained that its $10,000 check to its insured satisfied the claim. The policy holder sued, claiming that its true loss was around $4 million.
Consideration Clauses in Deeds

This article will discuss consideration clauses in deeds.  As it turns out, consideration are generally not required in deeds, and a deed unsupported by consideration is still generally valid.  But the consideration clauses do serve a purpose, and could possibly come into play in important ways, especially if there is a mistake in the deed itself or a mistake or fraud in the transaction in which the property has been conveyed.

On the Blogs

Standards and Practices of Foreclosure Investors
William Pattison 's Blog
2014/10/20
1 comments

Abstracting soundtrack
Teresa Wright's Blog
2014/10/20
3 comments

Camera on Foreclosures: The Dirty Little Cheaters
William Pattison 's Blog
2014/10/11
2 comments

NOT Indexing by legal description - YIKES!!
Teresa Wright's Blog
2014/10/09
10 comments

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
1 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

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