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Once again, Minnesota, Land of the Nice, has proved to be Land of the Suckered. Two news articles Pioneer Press and the Star Tribune point out how easily it is for a Title Agency to go into business, handle Millions of Dollars, Dup Banks and the Public, and abscond with funds. Are Title [...] Lynn Hammett and I have been discussing taking a two day Abstractor seminar “on-the-road” in NC, SC and possibly PA. The Seminars would be designed around national abstracting principles, and would be excellent for those planning to get the Naltea Certified Abstractor (NCA) Designation for those of you wishing to demonstrate to clients that you [...] A good article in American Chronicle reminded me of the closings that changed over from MIP to Piggy-back loans, where a first and second mortgage kept the borrower from having to pay the traditional Mtg. Ins. premium. The article said “Most loans with higher than 80% loan to value ratios when they were originated [...] Catching up on email today, I saw another fine example of fraud. This one I have seen many times, but it keeps rearing its ugly head. An average couple taking out a home-equity line of credit… er, that would be five home-equity lines of credit, all in the same day, sinking five different lenders into [...] The Florida Legislature is looking for Revenue. County Appraisers have pointed out the state is missing Millions in revenue by a “loop-hole” in the system that allows parties to bypass paying state deed tax due on the sale. An article in the Palm Beach Post points to 3 examples in particular that “cost” FL revenue [...] FULL abstracts of title still exist. In many parts of the Midwest, each and every recorded document is “abstracted” into a book that is “continued” every time a property is sold, and handed off from owner to owner. While some of the large Underwriters and Real-estate-company-owned title companies have tried hard to get rid of abstracts, [...] |
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