Title Insurance and Your Transaction
For the past few years, Fannie Mae, Freddie Mac and the Federal Housing Finance Agency have investigated suspect fraudulent deals. After the great financial crisis, several regulations were implemented to increase the number...more
In order for a lending institution to successfully take real estate through foreclosure litigation and have the real estate sold at a sheriff sale, the property needs to have a clear title. What many do not understand is that...more
Continuing a focus on knowing your clients and fraud, Fannie Mae released last week Title and Closing Requirements for Multifamily Mortgage Loans Form 4650, a comprehensive update that will impact how you set up future...more
Lenders get into a groove with originating loans with existing and new borrowers. So often, the closing comes and goes, and the monthly payments commence without any trouble. But then a borrower comes along who seeks to...more
With Fannie Mae, Freddie Mac and others embracing attorney opinion letters (AOLs) as an alternative to title insurance for residential mortgages, Bradley’s Title Insurance Claims & Title Defect Curative Practice Group took a...more
On March 8, 2024, the CFPB issued a blog post signaling a new front in its focus on “junk fees”—mortgage closing costs. Notably, the CFPB suggests that title insurance, credit report and appraisal, origination, and other...more
I’ve heard that more than once. I have also heard that if I have a title search or title commitment which doesn’t identify any issues, I’m in the clear. Statements like these are shortsighted and show a misunderstanding of...more
By: Jeffrey M. Haber In TD Bank, N.A. v. Keenan, 2023 N.Y. Slip Op. 06158 (2d Dept. Nov. 29, 2023) (here), the Appellate Division, Second Department examined the often “nettlesome” question of whether a plaintiff claiming...more
Real Property Update - Foreclosure / Mobile Home: 21st Mortgage’s unperfected security interest in mobile home — which was a fixture to mortgaged real property — did not survive the real property’s foreclosure by...more
Real Property Update - Foreclosure / Bankruptcy: Trial court erred in entering final order precluding defendant from raising any defenses in foreclosure action based upon surrender in bankruptcy because (i) debtor only...more
Real Property Update - Online Marketplace for Lodging / Arbitrability / Delegation to Arbitrator: Company’s terms of service incorporated by reference the AAA rules and clearly and unmistakably evidenced the parties’...more
Reciprocal Easement: Three operative paragraphs of reciprocal parking easement, and the easement as a whole, unambiguously provided that rights and benefits described were appurtenant and for the benefit of successors to the...more
Foreclosure / Statute of Limitations: Subsequent owner of property, which purchased property at homeowners association's junior lienholder foreclosure, took the property subject to successor mortgagee's ongoing rights, which...more
Land Use / Vacation Rentals: Petition for a writ of second tier certiorari was denied because there was no violation of a clearly established principle of law resulting in a miscarriage of justice where circuit court affirmed...more
Real Property Update - UCC / Security Interests: Eleventh Circuit certified to the Florida Supreme Court the following questions: (1) Is the "search of the records of the filing office under the debtor's correct name,...more
Real Property Update - Foreclosure / Reverse Mortgage: Surviving spouse who did not sign the note did not qualify as a “borrower” by signing the mortgage and related documents – OneWest Bank, N.A. v. Leek-Tannenbaum, No....more
Real Property Update - Cross-Easement Agreement / Res Judicata: Doctrine of res judicata is not applicable where the claims in the two cases concern different periods of time, and the facts that were essential to maintain...more
Real Property Update - Foreclosure / Dismissal: Trial court erred in relying on judicially noticed records from a prior foreclosure action in dismissing foreclosure complaint – Bayview Loan Servicing, LLC v. Brown, No....more
As part of an effort to revamp and modernize title insurance policies and land surveys, this year, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) updated their standards,...more
Real Property Update - Bert Harris Act: Certifying question whether the 2021 amendment to the Bert J. Harris Jr. Private Property Rights Protection Act clarifies the existing law so that plaintiff may maintain an action...more
Real Property Update - Foreclosure / Fees and Costs: Trial court erred by denying borrower attorneys’ fees and costs following involuntary dismissal of foreclosure action based on Florida Supreme Court’s holding in Page v....more
Prior mortgages are typical due-diligence items in the real estate title review process for renewable energy projects. Resolving issues related to prior mortgages is key to establishing a title policy that is satisfactory to...more
Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •An appellate court in New York has ruled that a title insurance policy excluded coverage for a “Declaration and...more
Real Property Update - Foreclosure / Damages: Party seeking foreclosure failed to present competent, substantial evidence to prove the total amount owed on the note – Adamson v. Main Street Oaks, LLC, No. 2D19-3805 (Fla....more
Real Property Update - Foreclosure: Trial court cannot arbitrarily reject evidence or testimony in a mortgage foreclosure proceeding, and lender that proved elements was entitled to foreclosure judgment – U.S. Bank, N.A....more