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Judgment Lien Searches on Buyers

Though it’s probably taken for granted, it is not immediately obvious why lenders don’t generally have to do judgment lien searches on the buyers to whom they lend money, in order to guarantee the priority of their mortgage lien over any judgment liens against the borrower. Here’s why it’s usually not necessary.

Data Trace Continues Expansion in Texas
Data Trace Information Services has announced the introduction of four new geographically indexed, P-12 compliant thick title plants in Texas, covering Dallas, Denton, Kaufman and Tarrant counties, with additional depth in Collin county.
Punctual Abstract
ALTA Announces National Notary Association as Elite Provider
The American Land Title Association(ALTA) has announced that theNational Notary Association(NNA) has been named an ALTA Elite Provider.
Black Knight: Home Equity Picture Continues to Improve
Black Knight Financial Services, Inc.has released its latestMortgage Monitor Report, based on data as of the end of November 2016, showing that as home prices continued to appreciate, one million previously underwater homeowners returned to positive equity positions in the first three quarters of 2016.
Quick links
High-profile Texas lobbyist to take on title insurance reform
he former head of the Texas Association of Business will lead the charge to bring competition to the title insurance market in the new legislative session.
Mortgage applications rebound 5.8%, as interest rates ease off recent highs
The new year brought a new sense of caution among investors that in turn caused interest rates to pull back after a month of marching higher.
Freddie Mac: Mortgage rates climb for ninth straight week
Mortgage interest rates remained at a two-year high this week, climbing again for the ninth straight week after the election.
Not A Surprise - US Pending Home Sales Fall On Mortgage Rate Rise
This is not a great surprise as in this great economy of ours the ankle bone really is connected to the shin bone--and prices of things and volumes of that thing happening do tend to change together.
Higher interest rates crush mortgage application volume, down 9.4%
The highest interest rates in well over a year are putting a dent in the mortgage business.
MBA Weekly Report: Applications Increase 5.8%
Mortgage applications increased 5.8 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 6, 2017. The most recent week's results include an adjustment to account for the New Year's Day holiday, while the previous week's results were adjusted for the Christmas holiday.
Data Trace Continues Its Aggressive Expansion in Texas with the Addition of New Title Plants
Data Trace Information Services LLC,the nation’s largest provider of data solutions to the title and settlement services industry, announced today the introduction of four new geographically indexed, P-12 compliant thick title plants in Texas.
Name Variations that Definitely Must Be Searched
Most experienced title searchers would probably agree that name variations often must be searched in order to perform a competent title search by name. If certain common name variations are not searched, the searcher takes a risk that a court will later rule that the searcher should have searched the variation. Beyond that, however, a Colorado Supreme Court case demonstrates that in a particular state, there may be no doubt that certain variations must be searched.
Collateral Estoppel
Most people probably know that if you lose a lawsuit, you can’t just file another lawsuit against the same person so that you can fix the mistakes you made presenting your evidence in your first lawsuit, or in the hopes that you get a more sympathetic judge the second time around. But the effect of losing a lawsuit goes a little bit beyond that, as a recent Washington boundary dispute demonstrates.
Multiple Surnames

If a person has two surnames but only uses one of them when listing their name in a property transaction, a title search of that lone surname won’t turn up documents that are indexed only under the other surname. But if any of the documents that the title searcher discovers list both surnames, the title insurer may be on the hook for a claim if the title searcher doesn’t do a search on that other surname, as a recent Texas case illustrates.

Lack of Title
If a dispute over land title or land use goes to court, it’s going to be up to the plaintiff to show that they own an interest in the land or some other right to use it, or else the claim will fail. The defendant doesn’t have to show that the plaintiff lacks such an interest or right to use. This may seem elementary, but even big companies get it twisted, as occurred in a recent federal case in Illinois.
Are Title Searches Fatal for Certain Fraud Claims?
If a seller lies to a prospective buyer about an aspect of title to the property, it’s probably going to be tough for the buyer to successfully sue the seller for fraud, because the buyer shouldn’t have relied on the lie—the buyer should have done a title search to learn the state of title for themselves. But what if the buyer hires someone to do the title search but still doesn’t learn the true state of title? A recent New Jersey case sheds light on the issue.
When You Hate Your Nephew So Much That You Want Him Not to Own Your House After You Die
Sometimes, clauses are inserted into deeds that put a lot of restrictions on when a property can subsequently be transferred, or significantly restrict to whom a property can be subsequently transferred. These clauses are generally unenforceable… but not always, and when these clauses are not taken seriously, they can cause big problems, as a recent Virginia case illustrates.
Undiscovered Liens in a Refinance to a Reverse Mortgage

A refinance from a conventional mortgage to a reverse mortgage can involve the same pitfall of an undiscovered lien as a refinance to a conventional mortgage, but it may also present special issues because the principal balance of the refinance reverse mortgage increases.

Private Eminent Domain

Is there such a thing as "private eminent domain"? In other words, can you file a lawsuit to take a right in your neighbor’s land, where you have no preexisting interest in the neighbor’s land? Depending on the state you may have such a right by statute. Just don’t try to exercise your eminent domain right the way one Utah landowner did, or be prepared to pay a stiff cost.

Rescinding an Erroneously-Recorded Mortgage Release
In many states, mortgage lenders are allowed to rescind a recorded release of a mortgage if they have recorded the release in error, by recording a document of rescission. But in some cases where rescinding a release might be advantageous to the lender, the statute may not apply, as a recent North Carolina case illustrates.
Equitable Subrogation to Fix Defective Mortgages
Equitable subrogation is being increasingly applied to cure not only situations where a refinance mortgagee’s priority is compromised, but also situations when a refinance mortgage itself is defective. A recent New Jersey case illustrates.
On the Blogs

A New Curative Statute is Working its Way Through the Ohio Legislature
Source of Title Blog
2016/08/28
2 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
13 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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