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Land Contract Foreclosures... Who Gets What?
Land contracts present unique problems when the buyer defaults—for example, the foreclosure rules for land contracts often are different from the better-known rules governing mortgage foreclosures, and often, there is uncertainty about whether the buyer should get any of his or her money back. An Indiana case illustrates some of the issues that may crop up.
CoreLogic: Completed Foreclosures Down 40% Annually

Housing data provider CoreLogic has released its December 2016 National Foreclosure Report which shows the foreclosure inventory declined by 30 percent and completed foreclosures declined by 40 percent compared with December 2015. The number of completed foreclosures nationwide decreased year over year from 36,000 in December 2015 to 21,000 in December 2016, representing a decrease of 82 percent from the peak of 118,336 in September 2010.

AccuSearch Company
MBA Weekly Report: Mortgage App Volume Down 3.7%
Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 10, 2017.
MBA: Mortgage Delinquency Rate Increases in Q4
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.80 percent of all loans outstanding at the end of the fourth quarter of 2016. The delinquency rate was up 28 basis points from the previous quarter, and was three basis points higher than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.
Quick links
Landlord: Tenant violated his lease by dying
That's what a West Seattle woman says she was told after her brother died and she went to get the security deposit.
CFPB Takes First MSA-Related Action in Nearly Two Years; Orders Mortgage Lender to Pay $3.5M Civil Penalty for Kickbacks
On January 31, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it ordered a California-based mortgage lender to pay $3.5 million in civil penalties for an illegal mortgage kickback scheme.
Imperfect!!! - Recordation Alone May Not Be Suficient To Perfect Deeds Under California Law
Once a lender records a deed of trust, isn't that sufficient under California law to perfect the deed against a Chapter 7 trustee's attempt to set it aside? Based on the recent bankruptcy court decision of In re Nowlin, the answer may be no, especially if the deed was not properly indexed with the county recorder's office.
OneTitle slashes title insurance rates
In an industry dominated by large players, upstart title insurance company OneTitle received approval from state regulators to slash its rates, the company told The Real Deal.
Mortgage rates stuck in a holding pattern
Mortgage rates barely budged this week, essentially remaining flat for the third week in a row.
Simplifile E-recording Network Gains 43 New Counties in South, Midwest
Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, announced it has added 43 counties and parishes across the Southern and Midwestern United States to its e-recording network.
First American Mortgage Solutions Debuts CleanFile Solutions
First American Mortgage Solutions, LLC, a subsidiary of First American Financial Corporation (NYSE: FAF) and leading provider of comprehensive solutions covering the entire residential loan spectrum, has introduced CleanFile Solutions™ to give mortgage lenders, servicers and investors complete confidence in the quality of their collateral files.
Looking Deep Enough into Title Insurance Policies
Title insurance policies may have provisions that appear at a glance to provide or disclaim coverage, but when viewed in light of other provisions in the policy dictate the opposite result. A recent Arizona case involving a lender’s full credit bid at a foreclosure sale provides an example where one court interpreted a policy wrongly because it did not look far enough into the policy’s provisions.
Right of Redemption vs. Bona Fide Purchaser
A right of redemption gives a property owner in default the right to restore their title even after a foreclosure sale, at least for a limited period time, by curing the default through paying what was owed, perhaps along with the costs of the foreclosure sale. When this right is not respected—as in a recent California case—an unwitting buyer may have a fatal defect in their title.
Are Title Searches Necessary for Property Searches Under the 4th Amendment?

If a bank issued a mortgage on a property without doing a title search to find out who owned the property, most courts would probably say that the bank had not been reasonable. After all, the bank would have not taken an easy step to ensure that all the who owned the property signed the mortgage. But what about in other instances, such as when a police officer searches a property for law enforcement purposes… might the police have to do a title search to establish that the property is the suspect’s property before doing the search?

On the Blogs

Archive America 2017
William Pattison's Blog
2017/02/02
0 comments

Michigan Abolished Dower
Source of Title Blog
2017/02/01
2 comments

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
14 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

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Real Estate Market Investment Seminar
February 01 2017
Session four of seven:
Held this time at the public deed office in order to learn how to minimize downside risks for liens, foreclosures, bankruptcies, money judgments, court orders, CC&R's, and HOA dues. Basic title search overview focused on most...[more info]


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