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The Chicago Tribune has a MUST-READ Article for all title people. A bizarre case where the title underwriter, Ticor, sub-contracted out a title search for a $360,000. Mortgage transaction. Title work came back clear, the deal closed, docucments were recorded, and a title policy issued. The entire transaction was fake and no payments were [...] by Robert Franco | 2008/08/12 | Reprinted with permission from www.sourceoftitle.com Carmel Valley, California, is a beautiful place. I was fortunate enough to spend a year in nearby Monterey in the early 1990’s. Sadly, last year it made headlines for a tragic double homicide that could probably have been prevented with a simple title [...] As an educator, I often teach about the proverbial Government Rights, and the right of taxation. We all know that real estate taxes are a “first lien” on real estate. That foreclosure of real estate taxes will wiipe out even a first mortgage. Well, I believe its time for the Counties to exercise that right [...] Minnesota has reached a first-of-its-kind agreement to co-promote new and existing types of FHA mortgages with Federal Agencies. The Minnesota Housing Finance Agency (MHFA), a state agency committed to affordable housing opportunities for low and moderate income Minnesotans and HUD have announced a partnership to promote loans for the target market. The MHFA and FHA [...] Good news for Minnesota – or at least a bit better than last year… Minnesota moved DOWN on the list of the WORST states for Mortgage Fraud. The Mortgage Asset Research Institute issued information on the Top 10 states for mortgage fraud that was reported on single-family home loans in 2007 versus their rank in [...] Fitch Ratings completed a study on the U.S. title insurance industry’s risk-adjusted capital position at year-end 2007. The study showed a significant decrease in the risk-adjusted capital (RAC) for the title insurer world. The title industry’s risk-adjusted capital ratio is the lowest since Fitch began calculating the RAC Model in 1997. For a copy of the [...] |
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