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[+] Eclipse Real Estate Services - J Nisonger/CA (11 replies)
4/25/2012 4:04:38 PM (3767 views)

[+] ESS/Efficax/Real Estate Streams, et al - Jack Borgland/AL (3 replies)
4/21/2012 12:53:11 PM (4988 views)

[+] Comment on "30 Louisiana Clerks of Court Sue MERS for Thousands per Mortgage" - Source of Title/OH (4 replies)
4/20/2012 6:21:50 PM (3122 views)

TIAC E&O - F P/VA
4/20/2012 2:17:03 PM (2623 views)

[-] Altisource New Requirements - Karen Hurley/KY (8 replies)
4/19/2012 3:10:22 PM (4271 views)

Got this in my E-mail today from Altisource and would like to get some feedback from you all.  I was taught that if the porperty description on the mortgage does not match the deed it does not attach to the property and needs to be corrected. Now, it apears, they are going to foreclose on inaccurate property descriptions.     

 

Legal Description Process Change We are making a change to the source of the legal description entered on the web portal. The new change will require the following:

• The legal description is taken from the Subject Mortgage and not the Vesting.

• Compare the Legal on the Subject Mortgage to the Vesting and notate your worksheet if there is a difference on the Vesting Deed. Please notate this difference on your worksheet.

• This change will take effect Monday April 23rd, 2012.

• All Search products will require this change.

Why the Change? In the past the legal description has been provided from the Vesting Deed. The Legal Description typed on the web portal is transferred on our Foreclosure Report for the Foreclosing Attorney. The Report is used by the Foreclosing Attorney to proceed with foreclosure on the property. The Foreclosing Attorney is limited to foreclosing upon the Legal description found on the Subject Mortgage. Foreclosing upon the Legal description on the Vesting rather than the Subject Mortgage makes the Foreclosure sale invalid if the Foreclosure report and Subject Mortgage Legal differ. For this reason, it has been determined this would be most beneficial to our Clients to provide the legal description that they are required to use to proceed with a valid Foreclosure. Illustration

 

Please email Trish.McCord@Altisource.com for clarification. Please include "Legal Description" in the subject line.

 

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Re: Altisource New Requirements - Patrick Scott/IL
4/19/2012 7:28:28 PM (4409 views)
Re: Altisource New Requirements - F P/VA
4/19/2012 8:29:13 PM (4332 views)
Re: Altisource New Requirements - CHARLENE  PERRY/MD
4/20/2012 1:17:16 PM (4141 views)
Re: Altisource New Requirements - Robert Franco/OH
4/20/2012 1:39:13 PM (4189 views)
Re: Altisource New Requirements - CHARLENE  PERRY/MD
4/20/2012 1:42:56 PM (4176 views)
Re: Altisource New Requirements - Robert Franco/OH
4/20/2012 9:27:07 AM (4250 views)
If The Legal Doesn't Match, It Doesn't Attach - Scott Perry/PA
4/19/2012 9:57:33 PM (4178 views)
Re: If The Legal Doesn't Match, It Doesn't Attach - george Hubka/MI
4/23/2012 12:43:43 PM (3927 views)


Real Title Services


[+] A Rare Apartment Comes on the Market at The Dakota in New York - Leigh Attridge/MA (1 reply)
4/18/2012 5:25:58 PM (4600 views)

[+] Southeast Title and Processing, Lawrenceville, GA - Dianne Barnidge/MS (4 replies)
4/18/2012 5:02:54 PM (3490 views)

[+] Cfacts Flexible Title & Closing Services - Joel Lee/NY (6 replies)
4/18/2012 10:58:10 AM (3948 views)

[+] E&O referral - john rutledge/VA (5 replies)
4/17/2012 8:09:53 PM (3019 views)

[+] I finally get it. - F P/VA (4 replies)
4/17/2012 4:42:34 PM (3109 views)

[+] Altisource - Carrin Reeves/TN (4 replies)
4/17/2012 11:49:01 AM (3437 views)

[+] Comment on "Judge Awards Borrower $3.17M Over Misapplied Mortgage Payments" - Source of Title/OH (3 replies)
4/15/2012 10:01:32 AM (2772 views)

MLQ Attorney Services - WAYNE QUICK/NC
4/14/2012 9:48:13 AM (2585 views)

[+] What happens after a merger?? - Leigh Attridge/MA (7 replies)
4/11/2012 8:22:21 AM (2764 views)

[+] Comment on "Junior Lienholders Get The Shaft in Arizona, Part II" - Source of Title/OH (1 reply)
4/10/2012 9:39:11 AM (2700 views)


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