abstractor missed a judgment in the final bringdown

I have a transaction on my desk with a title claim. We issued title insurance in May of 2005. We are now doing the next transaction, our insured is selling. We ordered title through redacted. redacted is reporting a judgment in the amount of $458.69 against the former seller. This judgment was filed at the courthouse on the day of our closing. The original title work was dated 4/4/05.

abstractor missed a judgment in the final bringdown

I have a transaction on my desk with a title claim. We issued title insurance in May of 2005. We are now doing the next transaction, our insured is selling. We ordered title through redacted. redacted is reporting a judgment in the amount of $458.69 against the former seller. This judgment was filed at the courthouse on the day of our closing. The original title work was dated 4/4/05.

query: when did title insurance become mandatory

First, you must ask the question, who or what is mandating title insurance? It's probably the mortgage lender who is mandating a loan policy. The lender may be following their own standards or they may be following agency standards. Agency - FNMA, FHLMC & GNMA - standards set a bar for quality. Loans that meet agency standards are more easily sold in the secondary mortgage market, either

query: when did title insurance become mandatory

First, you must ask the question, who or what is mandating title insurance? It's probably the mortgage lender who is mandating a loan policy. The lender may be following their own standards or they may be following agency standards. Agency - FNMA, FHLMC & GNMA - standards set a bar for quality. Loans that meet agency standards are more easily sold in the secondary mortgage market, either

query: what do mortgage underwriters look at

The job of a mortgage underwriter is to assess risk, monitor compliance with standards, and make a lending decision. The mortgage underwriter is the guardian of the regulatory compliance gate and also the keeper of the saleability standards. So, with compliance lenses on their eyes and saleability standards sitting in their heads, they will look at the following items:COLLATERAL: The mortgage

query: what do mortgage underwriters look at

The job of a mortgage underwriter is to assess risk, monitor compliance with standards, and make a lending decision. The mortgage underwriter is the guardian of the regulatory compliance gate and also the keeper of the saleability standards. So, with compliance lenses on their eyes and saleability standards sitting in their heads, they will look at the following items:COLLATERAL: The mortgage

query: what happens if a title company doesn't record a mortgage and takes off

When discovered, a few people have heart attacks, then calm down and move forward with a fix. ;)The title company you are referring to would be a title agent and not the actual title insurance company, what we would call the title underwriter. The title underwriter would step in and take responsibility for fixing the problem since the agent was authorized to perform these acts on their behalf.