TITLE AGENT LIABILITY FOR ERRORS AND OMISSIONS AND TITLE INSURANCE

SEE title-insurance-view-from-the-other-side

SEE title-companies-and-agents-brace-for-worst-year-of-their-existence

9th-circuit-invalidates-mortgage-for-failure-to-properly-acknowledge-and-notary-misconduct

california-code-notary-must-not-have-an-interest-in-the-document-being-signed

appraisal-fraud-and-industry-standards-described-in-2003-official-white-paper-red-flags-described-in-detail-with-excellent-diagrams-explanations-and-descriptions-of-best-practices

title-carriers-hit-the-fan-their-solvency-in-question

excellent-mers-analysis-illegal-scheme-to-avoidevade-state-law-taxes-fees-fines-penalties

FROM FAQ RECENT ENTRY:

> Comment:
> Interesting idea, although flawed.
>
> Your title insurance company will only process a claim if there has been a loss (or an imminent danger of one. i.e., an attack on the title), and only then if it is not of the insured’s doing (or could have been prevented through action by the insured.)
>
> Since foreclosure is ostensibly always the insured’s fault (except of course in the rare case of forgery and intervening liens), you would be hard pressed to find any insurance company that would see it as an insurable loss or attack on title. The insured had an obligation to perform under the note they signed (ahem, which usually includes a “successors and/or assigns” clause), and failing to follow through on that creates an uninsurable loss – securitization or no.

ANSWER: My point, perhaps not articulate enough, is different from what you are addressing. If at the closing there was a pooling and service agreement already in existence and known to the title agent. If at the item of the loan closing there was an assignment and assumption agreement already in place.

If the investors had already purchased mortgage backed securities, that included a description of a “temporary” set of notes (See Lehman filings), that would be replaced by “real” notes and security instruments pledged as security to the holders of asset backed securities, and if the terms of the pledge within the SPV was an allocation of funds contrary to the terms of the note and mortgage, and if the title agent was aware of sufficient facts to put him on notice that (a) undisclosed third parties were involved in the transaction and (b) that undisclosed fees were being paid and (c) that this could create grounds for three-day rescission, but for the fact that the real “lender” has not been disclosed— assuming all of that, because that is actually what happened — does that not mean that there was actual knowledge by the title agent that there are dozens and perhaps hundreds of even thousands of people who have an equitable and legal interest in the security instrument encumbering the property.

I agree that the title policy does not require intervention of the carrier until there is a claim. But the errors and omissions carrier for the title agent when put on notice of the claim would have an immediate interest in mitigating the potential loss. It is not that there is a hypothetical cloud on title, it is real from the moment that the transaction was consummated.

67 Responses

  1. The bill is senate bill s1987. Massachusetts. It’s not quite there, they are trying to take away our twenty year right to claim title but they are voiding out all sales and forclousers if you can prove wrongful forclouser. Based on Ibenaz . It needs predatory lending groups to get better provisions for wrongfully forcloused homeowners, call your senators.

  2. To coco21 and all Massachusetts fourclousers we are winning here, state house just passed a bill voiding fourclousers and sales of thousands of homes here, any one have the bill number and any more info? This is something to explore and update your attys. we do not have enough good attys here, I’ve been Thur four.

  3. kxqsctafmueg

  4. @bart in regards to your question posted 7/07/10 about Patrick Cook in MA. I just saw this and wish I saw it sooner. He made $35,000 in our case and when the unethical judgment came he jumped ship. I have so much to tell you please get back to me. He is a wolf in sheep’s clothing! We fell in love with is mild mannered ways but that is a cover.

  5. I am in total AWE!!! The things I am pulling up are just crazy!! Turns out not only do I have fraud 1st mortgage with robo signers I also have a 2nd and a 3rd I am consulting an attorney tomm and I plan to whistle blow on all of these people involved nobody will stop me!! I am so sick by what happen to me that it almost seem sureal .. NOBODY KNOWS WHO OWNS THE NOTE AND MY HOUSE HAS ABOUT 4 DIFFERENT RECORDING DEED NUMBERS….I played my cards right for once and never opened my mouth about having a real estate license the crap I have seen is insane… rest assure you will hear of my case I am not taking a payoff from anyone .. I have seen mothers and children hysterical while being thrown out of their home that is a complete fraud and the trick is this people I learned this from all the research I have done..

    CALL YOUR CITY CLERK AND FIND OUT IF YOUR TAXES ARE PAID IF THEY DON’T HAVE A NOTE ON YOUR HOME THE ONLY WAY YOU CAN BE LEGALLY THROWN OUT IS IF YOU DON’T PAY YOUR TAXES ON YOUR HOME !! THIS IS THE KEY!!

    THE PEOPLE WHO SOLD ME MY HOME ARE INVOLVED IN THE BIGGEST SCHEME EVER I AM BLOWING THE WHISTLE ON THEM TO !! SUPPOSED FRIENDS I AM GOING TO FIX THEM BUT GOOD FOR ME THIS IS COMPLETE DISGUST !!

    SHAME ON ANYONE AGAINST OBAMA BECAUSE THIS SHIT NEEDS TO STOP!! SHAME ON PRIOR GOVERMENT OFFICIALS WHO ALLOWED THIS IN QUEENS COUNTY AND ELSEWHERE BECAUSE OF GREED THE UNITED STATES IS BEING DESTROYED!! FEEL FREE TO EMAIL ME MY STORY IS CRAZY !!

    I could not afford my home and these crazy ass Bonsian people were begging me to sell it and I agreed for of course a lower price and guess what they are involved in a worldwide mortgage scam!! Its like seriously crazy ..

    GOOD LUCK TO ALL FELLOW HOME FIGHTERS DON’T GIVE UP KEEP SEARCHING YOU WILL FIND SOMETHING ALL I HAVE TO SAY IS ….THANK GOD FOR GOOGLE!!

  6. great blog! the information you provide is quiet helpful, why i was not able to find it earlier. anyways i’ve subscribed to your feeds, keep the good work up. lista de emails lista de emails lista de emails lista de emails lista de emails

  7. a title insurance policy insures nothing. the whole industry is a fraud for title theft.

  8. Simon I,

    PLEASE chat me back on here. I have similar info. I think wells fargo was hidden lender in my deal too with stewart title. U have to know that WF owns 23% of Stewart.

    please post if u are still around. thanks C

  9. I have been researching our mortgage for 3 year Plus! Where I get the worst customer service is from the mortgage borker, “First Morgage Corporation”, tile company “Ticor”. It was a VA. We bought it from a man “by owner”. Only my husband of 20 years needed to sign the loan. About 4 months ago I got all (or only what was recorded with County) records. There, on the end of the loan was my signiture along with my husband, noterized. Oh by the way we had an atty. at closing.
    I found out that the broker had became the lender and immediately assigned it to MERS as nominee. I think thier attemp to securitize the loan failed because after afew months (according to county records) title insurance paid loan in full. I found the wet blue ink title, a satisfaction of morgage from MERS , final escow statement, a release of mortgage from Wells Fargo, a certificate saying” congradulations , your loan has been payed in full.” Also a release from another title co. “First American”. I called VA Department of Veterans affairs and was told in no uncertain terms our loan was paid in full. None of this paperwork was sent to us!!!! So we refinanced, then our loan was given to Countywide and you know the story from there!!!!! Bank of America has been climbing up our asses, threatening foreclosure and trying to get us to ‘modify our loan. Thank God they turned us down. I have keep all paperwork from that fiasco. Why do we get charged for title seaches if they don’t do one and see that loan was paid off. I have broken off all communications with BOA and told them that I would not talk to them anymore because of the frudulent way they have handled our loan. Next thing I know they have a person claiming to be an inveatagator with BOA’s fraud division. I have spoken with her twice. Ended up telling her off. Now the paperwork is flying into the recorders office saying MERS has given my loan to BOA , Bank of America and Countrywide home loans. I read some where on this website the Latin term for False in orinination, false in all. Could you tell me here to find it?

  10. I think the Title Company at my closing committed fraud. For some reason, no one can tell me who scribbled/stamped on my mortgage and note after execution and before recording.
    I sent a request to the Title Co for a copy of the entire loan file…they gave me the same stuff I got at closing – except for a few other interesting things:
    The lender named on my note did not front the money – actually there is a check made out to my lender DKMC, from its parent (DKH, Inc. a holding company). It’s in an amount thousands over the note amount, says pay to the order of Stewart Title. The closing instructions also came from my lender’s parent company . The prior mortgagee WFHM, who says in court that they had nothing to do with our refinance (it had denied us a refinance saying we didn’t qualify and referred us to someone else) , ends up being the servicer for the new mortgage (also dba Wells Fargo Bank, NA), and the Title Co recorded released that prior mortgage without even mentioning the name of the mortgagee (the old mortgage wasn’t MERS, just WFHM, release says “the mortgagee”).
    I rescinded (for fraud, non-disclosure), they filed foreclosure, I filed Fed suit. Still can’t find out who holds my note/who has right to repayment. During this Fed suit I sent request to Stewart Title (the only party at closing/during loan who I didn’t name as a defendant) asking who was the last person to have the original mortgage before it’s recording, and a copy of the lender’s policy I purchased so I can see who it covers (the ALTA “commitment letter” said DKMC. Title co’s answer: get a supeona.
    So I start poking around, and a few months ago I find a Loan Purchase and sale agreement between DKH and Wells Fargo, dated to 2003 (my refi was in 2005), plus I find a lawsuit dated 2008 where WFB is suing DKH, and it’s subs Draper & Kramer, Inc and Draper & Kramer Mortgage Corp (DKMCmy lender). Seems like Draper was forgetting to fill out FHA forms and misrepresenting borrower info between 2003 and 2007.
    So, that right there is a problem for WFB in my suit, I think – because WFB wrote in its MTD our case that it had no dealings with DK until DK contracted it for servicing and knew nothing about the refi transaction. Can’t be. WFB is scribbled on the face of the mortgage copy produced in foreclosure case, along with a WFHM acct # different than my loan #. The copy of note filed in Chancery only has endorsement in blank from Wells to nobody, not endorsed by DKMC (although a few months ago they sent me a “new” true copy which now has endorsement stamp from DKMC to WFB, 4th “true copy” so far). None of the endorsements are dated, and the new DKMC endorsement was signed by a Kathleen L Lynch as agent of DKMC, who is she really?WFB is attempting foreclosure based on the WFHM Acct #708…, and I never had a contract account with WFHM.
    Well my pro se case is ongoing, and to make a long story shorter: Last month I demanded a day-by-day accounting history of the account stated – as usual, WFHM gave me the last 2 yrs history instead of from the beginning as I always ask. This time, they (accidentally?) gave me a printout that I think was meant only for them – for it shows every reimbursement WFHM received months ago, including a “foreclosure settlement in full” of an amount that is $30,000 MORE than the note amount, and escrow accout zero balance. Along with that printout came the normal printout (for me?) showing full amounts due, escrow in the negative, etc.
    The foreclosure went into limbo over 2 years ago right after I filed my Fed complaint. Is it possible that WFHM sold the loan last year – and still wants to foreclose although it was fully reimbursed and then some?? Well, I have another thought – what if, Wells (as WFHM) collected Title Ins, while WFB, NA is foreclosing? WFHM and WFB, NA are the same entity now, since 2003, if I understand right. There is no way Title Co didn’t know this. I have the suspicion that the lender’s ALTA policy will be in the name of Wells Fargo, which I think would mean that the Title Co misrepresented at closing, and WFB was the real lender.
    Something else – Wells got affidavit of assignment from MERS 30 days after filing foreclosure – but, the named lender DKMC is still db, so why use “nominee”? Also, to this day WFHM says MERS still holds title and there will be no assignments, because Fannie owns, and WFHM is agent! But, what then of the MERS assignment to WFB, the foreclosure plaintiff?
    And, where did this very large payment come from??

  11. The ‘bad debt’ tracked carefully by third party for Master Servicer as Credit Risk Manager figures out when to file falsified documents with court (when a foreclosure or bankruptcy are contesting) and when the SERVICER and INVESTOR realize they are going to LOOSE make sure they file with court some ‘document’ they can use as Master Servicer to file claims that the errors and omissions policys allow!

  12. ALL phone calls are to cease, I am not INTERESTED in any “Negotations”. Aiding and imbedding is a crime. This is already in court and at the Federal level.I hope this is CLEAR. Fabricated documents are fraud apoun the court and the homeowner in this state.

  13. Be careful whom you speak with when looking for atty help. Some take your information and work the”other side”. Ask if they only service the homeowners or are they a dual agent. This would mean do forclousers one minute and help a homeowner the next. This is not the type of law office you want to handle your most erriplaceable asset, your home. Be Ware, things are not alway’s what they seem. And shear ignorance can very much HARM your case.

  14. Does anyone have information about potential liability of a title company which did not discover a subdivision’s covenants that were recorded in another county prior to annexation by the current county in which the property was purchased..

  15. RHODE ISLAND ATTORNEY GENERALS OFFICE WILL NOT BE INVESTIGATING ALLEGATION OF FRAUD ON FORECLOSURES & ROBO-SIGNERS!
    I was told today that the office of Rhode Islands Attorney General will not be investigating Allegation of Mortgage Fraud by Robo-Signers in which they told the press they were on board and we have proof of wrongdoing on Mortgage Assignments and Affadavits that will prove that these recordings have robo wriiten all over them yet now the Attorney Generals office Heather McLaughlin Director of Consumer Unit announces that they are to busy to investigate fraud committed on our citizens of Rhode Island! Shame on all of you as you are lucky to be that busy as thousands of Rhode Islanders would be willing to take your jobs that are losing their homes daily in a state that is non-judicial and can take peoples homes without even a court hearing.

    KimThomas, on October 24, 2010 at 2:58 pm Said:

    http://www.projo.com/economy/Fighting_Foreclosure_10-24-10_7FIGCK5_v36.503440.html#

  16. Does anyone know anything about a company named LSP Field Services? They are based out of Fla per the internet. They put a sticker on my door while I was at work and declared my home vacant and abandoned when I called the number on the sticker and informed them the home is clearly not vacant or abandoned they tried to get info from me like they really did not even know about the sticker. I put a compliant in for tresspass with my local Police and named the company and the “employee” that signed it. My property is clearly posted in 3 places not to tresspass and I have home security in place. Can I have this “employee” arrested if they come on the property again? And to what benifit is it to false claim the property aboandoned. I looked into some stuff on the internet and think these company’s may be trying to go off some old abandoment rule were a property can be taken over by paying the tax bill and “possessing” it. My town collector states that this is like 50 years ago and does not work anyloner. She said she has people come in the office all the time to ask if they pay a tax bill if they can claim the property. She said it does not work here. Any input on as to why a “company” would falsely claim abandoment on a property would be apprerciated.

  17. http://www.projo.com/economy/Fighting_Foreclosure_10-24-10_7FIGCK5_v36.503440.html#

    Call Attorney George E.Babcock Esquire 401-274-1905
    RI & MA & CT Homeowners Everyone welcome!

  18. Thank you Nathanel, I will try to understand this action as I have read all the old posts here on the subject and find it not very clear. I did find the validation letter that I had from this site and sent out a copy to the most recent offender along with a 3 page copy of MassLaw CMR 209 on Division of Banks and Loan and It has become quieter at this reciept. A comment on all of the recent exposure of the fraudulent paperwork being filed by I belive every pretender lender out there. People please look carefully at these “documents” Mine have obscuered dates that look like 2 years ago, POA’s written a month after the illegal forclosure and not filled till a month after that. Every “document” that has been put on record has been fabricated. This is the point that we can gain our stands against these criminals. Pretender Lenders beware, we KNOW what you are doing and the tables are turning quickly.Don’t give up.

  19. Bart, you need to file a quiet title action against the people claiming that they have a lien on your house. Yeah, I know, get back into court. :-P

  20. They continue to call to harrase. This is verbal abuse, I do not answer the phone. I told the Pretender Lender’s atty that I have CLEAR title. To leave me alone. And they still call to harrase. They have nothing to take. A fradulent “empty” worthless set of papers is all. Does no one get that people go to federal prison for these crimes? And this Pretender Lender used intimidation thur out the last 3 years. I will not tolerate this anylonger. We want to be left alone to get back to our lives.I owe you nothing, do not call me again.Do you think this is getting thur?Don’t let them push you around. They will take whatever is NOT thier’s if you let them get to you.Change your phone number.

  21. Can you put up the link to the seize and desist form ? I saw it somewhere in this site but cannot find it. The harassment calls must stop they have no recourse and the debt validation letter from this site was sent to there atty over a year ago with no answer. File is dead.

  22. Hi all, well the battle still moves on, do not give up, stay in your homes please. This is pure madness that the “Lenders” are putting people thur. I have a question for someone out there. If a “lender” has given you back your title and the “loan” is still on record, how do you get the loan with no security instument removed from your property?

  23. If there is no Power of Pale in the note that permits the non-judicial foreclosure of the “real property in the City of…”, and Borrower has original Grant Deed/wet ink signatures that was recorded and Deed of Trust was secretly recorded, i.e. although file number consecutive to Grant Deed it was not visible until foreclosure that provided Power of Sale of “that property in the County of…” and Borrower had access to unlimited credit when necessary evidenced by the writing of [an] additional “Note” or “Notes” – then if a non-judicial foreclosure was conducted by a substitute trustee that sold private lender a Trustees Sale Guarantee for $360 would that constitute a title claim? How about if Civil Court and U.D. ignored contract would that constitute a title 42 U.S.C. 1983 claim

  24. I have 2 hearings for the bk 13 the 1st one is 8/31/10 gmac is trying to have the automatic stay removed. They 2nd one is 9/2/10 the meeting with the trustee and creditors.

    ** Lee, I went to a title company that had the same name then the previous one, I guess the previous employee’s are in jail, for their part. I was able to get the “Property History” for the house and it shows gmac in fact never did assigned the loan to them from greenpoint or indymac bank. I have the paper trail for the money part of it now I need the security info on the NOTE

  25. I sent an email soon to follow up with a letter to the closer (title agent ) that closed on the loan. Ask to se the wire receipt on it will be who sent the money to fund the loan? Isn’t that the lender? That would make the title agent responsible. Once someone tells you who the true lender is, isn’t that when the time limits start for a TILA case?
    Stan Putra
    Racine, Wi.

  26. IF YOU ARE A HOMEOWNER IN CALIFORNIA PLEASE CONTACT YOUR TITLE POLICY HOLDER AND HAVE THEM EMAIL YOU ALL ITEMS RECORDED AGAINST YOUR PROPERTY STARTING WITH YOUR DEED OF TRUST UNTIL CURRENT THERE MY BE TRIABLE ISSUES TO PREVENT THE FORECLOSURE

  27. NO FAMILY LEFT BEHIND! BUDGET PLANS FOR EVERYONE.WE CAN HELP YOU STAY IN YOUR HOME. POSSIBLY GET PRINCIPAL REDUCTION AND IN SOME CASES INTEREST RATE DEDUCTIONS. THE BANKS MADE A LOT OF MISTAKES IN THE PAPERWORK AND WE OFFER TO FIND THEM.FREE CONSULTATION ON ANY LEGAL MATTER.CALL KIM THOMAS 401-352-5609 or 401-274-1905. WE CAN HELP THE LAW OFFICES OF GEORGE E.BABCOCK ………………………………………………………………………ESQUIRE. CHECK OUT OUR WEBSITE: http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.babcocklawoffices.com%2F&h=911e4
    IF YOU HAVE A MERS WHICH STANDS FOR MORTGAGE ELECTRONIC REGISTRATION SERVICES WHICH WOULD BE IN MOST CASES ON THE 1ST PAGE OF YOUR MORTGAGE PARAGRAPH C OR YOU HAVE A MORTGAGE WITH INDYMAC OR ONE WEST BANK CALL KIM THOMAS OR GEORGE BABCOCK AT 401-274-1905 AND GET RELIEVE FROM YOUR PROBLEM!

  28. Hi all, hope you are staying cool during this heat. I have a question. Has anyone worked with an atty named Patrick Cook in Mass? I would like some feedback on his proffessional ability and fee fairness. Thanks.

  29. no trustee was named in the original instrument what effect does this mistake have on the banks abilty to foreclose in california

  30. what effect of no trustee named on a deed of trust?

  31. I do just have one ? for someone, my eviction papers from citibank sate that the are trustee , and the list for the lenders was very long, I never changed loan companys

  32. I went back to court today but I went with council. We are continued till 6/7. Wow, do I feel good, this atty is likeable and he was on top of his game in 1 day’s notice filing all sorts of things in my behalf. I will keep you in tune

  33. I bought a home 3 1/2 yrs ago, I just sold it for $3000 less than I paid for it. The buyers were paying cash. One day prior to closing the new title company called and said that it does not have a clear title. I found proof that the man I bought from had opened title and found out that it was not a clear title, so he left that company and went somewhere else. All we can figure is that he paid the title agent under the table to process it as having a clear title.
    Now the title company is saying that I have to put it back on the market and sell it again (since I lost the cash sell) before we can settle and they are only required to correct the problem. Any ideas for how I can make them pay me. I do have a Attorney and have spoke to other Attorneys and they all say this is proper procedure. I read it as title insurance, not title assurance!

  34. Bart-
    they are not paying for your personal stuff to be insured.

    Try to get some Renters Insurance to cover you personal property.

    You can call and ask them, but I guarantee their coverage does not include your personal belongings

    AND I doubt they cover any liability, such as if you have a friend come over and stay and they slip, fall and hurt themselves in the bathtub..or a worker who is on your property and gets injured.

  35. I learned today that the servicer EMC was the one that got my home owners policy canceled by reporting my home to be taken back by the lender. So if all of my possessions were insured then the bank uninsures them then I guess the bank owes me for things that have gone missing?

  36. ok, today I went back to court for this eviction violation hearing. and instead of going before the judge I got a continuance till 5/19 so I may seek coucil if I can find any. The atty for citi bank was so brass, he tried to tell me judges order said that he wanted to avoid damages at all costs when it really said I can sue there blanks off. Then he tries to tell me he is going to ask for a 10 day appeal and get the judge to rule in the banks favor on the eviction. I told him that the bank violated a mass law and he is following that law. He tells me the order he got was shredded by the paralegal before he could read it and then told the clerk he needed another copy because it came in the mail damaged. He admited to me the bank has not sold my home to a 3rd party even though the atty for the bank last week stated ubder oath that the bank had sold it. I still need some help, I need to go to a higher or different court to file a complaint against the wrongful forclosure. Does any one know mass law? This law firm seems to be going to great lenghts to cover this up.also, they cancelled my home owners policy so I am not insured for my belongings.

  37. Bart-one more thought. Go to the judge and tell him or her that you need 30 days at least to find an attorney or get some assistance with the matter. Since you are just out of the hospital etc. This would not be an unreasonable request at all.

  38. Bart-glad you are back and well.

    I cannot answer your questions. Not a lawyer.

    I do hope you get your story published in a newspaper!!

    Best Wishes

  39. Hi All, I have not posted for awhile and see not much has changed. I was in the mist of getting my loan modified with EMC (Bear Sterns) when I was suddenly hospitalized, My hospitalization lasted 5 months. While I was ill EMC sold my home at an auction in Jan to citibank. Then citibank entered the property and rekeyed the doors, then took possesion by forcloseure deed on record on 3/12. I was discharged from the hospital on the same day and came back to loked doors in the afternoon. I called EMC and got no help. They told me to call the atty for them which I did and they passed me back to the bank. a couple weeks later an evection notice shows up in the yard dated 3/24. So I go to court on 4/28 with citiback on this eviction from a home I have been locked out of by the Bank. The judge ruled that I can return to my home and that I may seek damages from Citibank in court on 5/5. I do have a title policy on this home in my name and forgery was involved by the loan office signing mass atty general forms and other forms in my name. I had been battleing EMC for the home free and clear due to this fraud. What can I ask for for damages from Citibank on violation of G.L.c 186, s 14. ?Should I ask for a continuance as this is only 5 days from now, the judge sent me this ruling on 4/29/01. I do not want to mess this gift up, can any one help? Can I sue for the loan balance to be paid in full by the titile insurance? Any help will be appreciated. Case is in Mass.

  40. Come on people. These BANKSTERS need to be BEHIND BARS. They have screwed everyone indiscriminantly. Homeowners and investors, we were all suckers.
    All our boo hooing isn’t going to do anything unless we unite and put the BANKSTERS BEHIND BARS.
    Bring as many people up to speed as you can. Go to http://www.homeownersjustice.com

    READ “Securitization is Illegal: RICO, USURY, ANTITRUST, AND TAX ISSUES” BY Michael Nwogugu, CPA, Cma (IMA).
    This pretty much explains it all.

  41. OUR COMPANY PURCHASED A PROPERTY AT A SHERRIFF SALE USING HARD MONEY. WELL NEEDLESS TO SAY THE HARD MONEY FELL THROUHG DUE TO MORTGAGE CRISIS LEAVING THE CHECK OUR COMPANY TENDERED FOR PAYMENT INSUFFICIENT.WHILE WE WERE UNDER THE IMPRESSION THAT OUR HARD MONEY PAID OUT BECAUSE THE SHERIFF ISSUED A DEED IN OUR COMPANIES NAME AND NO ONE EVER CONTACTED OR NOTIFIED OUR COMPANY OF INSUFFICIENT FUNDS. WE PROCEED TO REFINANCE THE PROPERTY WITH A LENDER PROVIDING A TRUE AND ACCURATE APPLICATION ALONG WITH ALL THE QAULIFYING DOCUMENTS.THE LOAN WAS APPROVED, A TITLE SEARCH WAS PERFORMED BY TITLE COMPANY, THE TITLE COMPANY CLEARED THE TITLE AND ISSUED TITLE, THE LOAN WAS CLEAR FOR CLOSING.WE COMPLETED THE PROPERTY REFINANCE. SIX MONTH DOWN THE LINE WE WERE NOTIFIED BY THE OWNER PRIOR TO THE SHERRIFF SALE OF A PENDING FORECLOSURE.AT THAT POINT THE LENDER THAT DID THE REFINANCE GOT INVOLVED TO DEFEND THIER INTEREST IN THE PROPERTY. TO MAKE A LONG STORY SHORT THE TITLE COMPANY ENDED UP PAYING A TITLE CLAIM TO THE COMPANY WHO DID THE REFINANCE LOAN. IN EXCHANGE FOR THE TITLE CLAIM BEING PAID OFF THE LENDER WHO DID THE REFINANCE AGREED TO ASSIGN THE PAID OFF MORTGAEG TO THE TITLE COMPANY WHO BOTCHED THE TITLE WORK.MY QUESTION IS CAN THE TITLE COMPANY COME AFTER ME, MY PARTNERS OR OUR COMPANY TO COLLECT ON THE PAID OFF MORTGAGE THAT’S BEEN ASSIGNED TO THEM AFTER THEIR ERROR, OMISSION AND NEGLIGENCE IN CLEARING THE TITLE?

  42. My mortgage company released our mortgage in error in 2001. Since then they have sent back our payments and have taken us in and out of court for the past ten years. We are being foreclosed on once again. We have in our possession a release of lien from the town hall and a thank you letter from the bank. We notified the bank right away when this happened. They in turn filed an affadavit at the town hall stating their error. But on this affadavit they have the wrong information and in fact are referring to a volume and page number. The title search companies never found this error that was made in 2001. What can I do to resolve this issue. Can I sue the title comany? I live in Connecticut..any help would be greatly appreciated. Our mortgage has been sold 4 times since we closed in 1999.

  43. I agree with everyone…on this post…Yes a problem exists and its not getting better. The average consumer does not understand the entire mortgage process/language period. Title companies or a mobile notary lacks the requisite knowledge to oversee signing let alone explain the terms of the transaction. In addition if the blow the signing they will never see business from the lender/broker again. So really whats the solution? The government has been bumbling around with revamping TILA, extra loan disclosures but really is that going to solve the problem? NO!

    Let me give you an example…if you were in the market to purchase a used car from a private party…would you ask the owner of the vehicle how the car runs take his/her word for it and write the check? I would hope the answer is no! I would hope you pay a mechanic a reasonable fee…say $200.00 to inspect the entire vehicle before you buy! So when you take out a mortgage loan and ask the lender if the rate is the best they can offer and are the costs reasonable and is there any dirty little secrets I should know about this loan….what do you think the answer will be? Undoubtably…it will be its a great deal and yes the rate is in line with the market and we have covered everything!…Why is that?…Because both the lender/loan officer and the guy selling you that used car both have something to gain by you transacting business with them.
    The guy sells you that used hunk of junk for 10k he made out like a bandit.
    If the lender/loan officer sells you a 5.5% rate in a 5.0% market and charged you non-esential fees on top of it…he made out like a bandit.

    The only resoultion is for consumers to have the opportunity to consult with an independent mortgage expert whom they(buyer or owner trying to refinance) retain and pay a flat fee to review all the terms and conditions and closing costs with them prior to signing the loan documents. Would you as a consumer be willing to have someone inspect your mortgage? I assume most are willing to pay for a mechanic to inspect that 10k car purchase…how about a 180k home loan and a 30 year comittment?

    All the extra disclosures will never help! In addition, the average consumer can’t effectively shop and compare loan programs…its impossible..it’s a shell game…lower costs higer rate, Higher Costs, Higher RATE! Higher Costs/Sometimes lower rate.

  44. Colleen,

    Here is a little something I put together this weekend…
    It may help you on your quest…

    http://bit.ly/2Q4toi

    4closureFraud

  45. Colleen
    I’m writing an opposition to the banks’ demurrer in my fraud/TILA/Predatory lending case, which I filed.

  46. Colleen

    Do you know how to go to the SEC website (Securities & Exchange Commission) to look up that trust name?

    Find SEC website, then click on upper right ‘search’ and then just try typing in csmc and see what comes up.

    Once you find your trust in the SEC, you can probably find the Pooling & Services Agreement (PSA) and the FWPs….download and read, read, read.

    Yup..I saw not exactly same spelling…but this is what all the forgers should be charged with!!

    RE Title ins. policy…the lender would be the one who could collect on the refi policy…not us…that is what I was told. Not sure implications if they made you pay for their policy!!

  47. Abby and 4closureFroad,
    You guys are TOO COOL!! love it that you a’ll care! That’s Texan talk and thrilled to be here. Yes, I do have a policy from 96′. Thanks for that knowledge.
    I have been looking on our public records and found lots of same names of vp’s and trustees to copy. How do you determine if that vp is in charge at that time? Cause he works for the servicer….wow these are really busy people-ha
    Also, I checked the numbers-which numbers are you referring too?
    I don’t see any numbers that match. I do have “supposedly” the name of the trust in my foreclosure papers:us bank na as trustee for the registered holders of csmc asset-backed trust 2007-nc1 osi csmc asset-backed -pass through cert. series 2007-nc1 osi.

    I too, am working on other issues related to the cases-like tilla-rescission and all the rest and will have to get an answer in by the 19 of this month. Unfortunately, I don’t believe “kevin m jackson is the same person who they are referring too in our docs. They are a little different in the spelling of the names.
    Curious too what your working on?
    Thanks again Colleen

  48. Colleen

    go here to see Kevin Jackson under federal grand jury indictment

    http://www.usdoj.gov/usao/oke/press0109.html#bill

    click on his name in Jan 2009

  49. Colleen,

    From what I have seen Scott Anderson is a fraud. Check out this paper by Nye Lavalle. It includes the multiple signatures of Mr. Anderson…

    http://bit.ly/7AO1n

    4closureFraud

  50. Colleen
    did you find the trust your loans are in?

    go to this and see if your loan numbers are in this list

    http://www.scribd.com/full/19616761?access_key=key-1bgzljt7p2y1voxtwz1k

    If so, then the trust is JPMAC2006-NC1 or NC2.

    Let me know and I can send you some other info.

  51. Colleen
    I was told that because the title policy was ‘only’ issued to HOME123 and NOT to me, that it would do me not good to try to go after that. But, you should double check. It is my understanding that the title policy only will protect who it is issued to. Now, if you were purchasing a home then you’d get a title policy (and have to probably pay for it)….so try to remember back to when you did the original purchase…you probably got a title policy then.

    To prove in court—forgeries—you might have to do some discovery—ask for ‘exemplar; signatures of those individuals (over some tme period)…so you can compare their real signatures with what is on your documennts (that might be easiest/cheapest way).

    Else, you can ask on blog if anyone has those same signatures on their docs and ask them to send you copy so you can compare. The ones on Stephen L. Nagy…I compared what I had on one of mine (a squiggle) and I asked another individual on this site to see if Stephen L. Nagy had signed anything in Florida….sure enough…very different. I also had a contact in Florida call me to inquire about Nagy’s signature.

    If you can actually view recorded docs online at your county recorder’s, you might be able to do more research to see if you could find other signatures that you are looking for.

    I understand that, in some cases, all these document signings were done in some other state with a room full of clerk types ‘forging’ names of Vice Presidents etc….that is all they did, all day long.

    Pay attention to the recording dates and the sequences of the recordings. The right people have to be in charge when they file the NOD in California. In my case, they were not….and they tried to back date the documents to try to ‘force’ fit them to the NOD.

    You should double check on the title policy issue. I took what I was told, as it made sense to me, and did not pursue it….I have other things I am working on.

    I had the title companies listed in my complaint but they were just creating too much distraction from my 3 big banks. I dismissed them, but may bring them back into the case later on.

  52. Oh Abby in CA,
    So thrilled to hear from you! Yes, it was a refi. Trying to understand what you mean that they “only” issue a title policy to HOME 123 “IF” it’s a refi? Is it “normal” for borrower to pay for a title policy on behalf of the lender?
    And yes, we have similar signitures on our county recordings to assignments-scott anderson-kevin m jackson. How does this prove that they’re forgeries in court?
    Thanks-so for your time!!
    Colleen

  53. Colleen
    Mine, with Home123, was a refi and they only issued title policy to Home123 if a refi.

    Was yours new purchase or refi?

    Did you get your county recordings yet?

    Take a look here at forgeries on recordings by Home123.

  54. I’ve been reading sense FEB,09 and have 2 homes now in foreclosure and haven’t read a question or comment on a title companys ability to produce a title policy from their data base. We closed on the same month and year (oct,06) with all the same people- New Century and Home 123 and title co.In attempting to collect as much information for our case, my husband and I went to the title companys office to get a copy of the policy,since for some reason we couldn’t find a copy in our paper work.(have one on our other home).They could not produce it. What are the legal liabilitys against the title company?
    Any help would be greatly appreciated.
    Wish to all the BEST in this fight!!!
    Colleen

  55. I have an “allonge to note” listing my servicer, dated on the closing date, that WAS NOT part of our closing docs. The servicer, two months AFTER closing “bought” our loan and was disclosed to us at that time. I JUST found out about this document. Title agent error? Fraud? What can I do with this document? Thanks

  56. “Abby, read Civil Code 2924 and 47. The recording of documents on behalf of the lender is absolutely privileged. Dismiss now or face serious monetary penalties. ” This is from an opposing attorney in Calif case. He is defending a title company involved in my wrongful foreclosure. Any ideas how I should respond to his threat? Lawyer guidance appreciated here. Neil??

  57. Once a property is foreclosed and sold and an owner’s policy purchased, if MERS is involved, I make a claim directly against the “new owner” who then makes a claim on title policy. This is going to happen more and more every day.

  58. I am writing in regard to MERS. On many owner policies that I look at, MERS is not named as the Mortgagee. The title standards committee then tries to soft sell this as an error of form not substance. These title companies are next on my hit list.

  59. I have just recently found out that there is a senior lien on my property that the settlement lawyer new about at the time of closing but did not disclose to me at the time. Now three years later I accidently find this information out and when I called to ask about it I got the response of “it’s being taken care of”. I have filed a claim with the Title insurance company, but I feel after researching my paperwork I need my own lawyer. Trouble is, no money, I no longer live in the state where the transaction occurred and no one seems to care to help.
    This is just the icing on the cake of a very long, unbelievable chain of events that have me reeling.

    I need help.

  60. Regarding the S&P document below: This seems to be evidence that the securitizations are supposed to be TRUE SALES with an ASSUMPTION OF RISK.

    It also seems to indicate that, even as early as 2004, the securitizers were well away that predatory lending liability would end up at their doorsteps. And what was the response to these warnings from the mortgage industry and its servicers: deflect predatory lending claims made in QWR’s (“We’re just the servicers.”) and make sure the identities of the investors are well hidden (Servicers, in response to information about the holder-in-due-course requested in QWR’s: “That information is confidential and/or a trade secret.” And most of all, MAKE SURE THE BORROWERS NEVER GET THEIR DAY IN COURT.

  61. Below is a link to a document on ALTA’s Internet site from S&P on assignee-investor liability for predatory lending violations, showing state-by-state information. Could be useful for folks. Can see why investors want to stay hidden. Can somebody comment on this? Thanks.

    http://www.alta.org/govt/issues/04/sp_1019.pdf

  62. Upon research have learned that CAL-WESTERN RECONVEYANCE CORP is 100% owned by Prommis Solutions, LLC.

    Prommis Solutions, LLC incorporated in Delaware.

    Prommis Solutions, LLC has identical mail address
    of the Pite Duncan,LLP Law firm ub San Diego, CA
    at 4375 Jutland Drive.

    I am trying to now confirm the suite number.

    Now I am questioning signatures on each of the recorded documents leading up to the foreclosure.

  63. this has been bothering me– do the dates in a deed of trust all have to match when it was signed?

  64. i found evidence in the files that the title policy was assigned to mers but there were instructions that the closing atty/ ie title agent (in mass the closing agent is also the title insurance carrier)not to diclose this in the policy, weird?

  65. I have a home that I have owners policy on. I found that the “morgage officer” signed my name to the truth in lending the borrowers auth form an acknolegment that “I cannot cancel the loan” paper, and other things, All the required atty general forms where never signed or even given to me. I am now faced with a forclouser on this property with no sale date but a civil letter was posted in the paper on 4/21/09. I called the Bank to complain and they aske “what do I want for restitution? ” Can I just ask for the home free and clear? And will the title policy cover this?

  66. Here’s one for you. Prior to closing, called the title company to ask for a referral for a local attorney to represent me at the closing. Sure enough, they gave me the name of an attorney to contact. However, they didn’t tell me that the “attorney” was the owner of the title and closing agency (conflict of interest??). At the closing he was very laid back, and sat there while I read the note and riders, etc. I asked “Is this just typical ‘boilerplate’ ?” and he replied “yes”. I told him the rate was higher than the rate offered in the commitment letter. His response was “do you want this house?” and we said “yes”. I asked “Is this negotiable right now?”, the answer was “NO”, so we signed. Now, it gets even better. As they flipped through the pages in the packet for me to sign (flagged with post-it notes) we of course didn’t look at each and every page. The only section that required an initial on each page WAS THE ACTUAL PROMISSORY NOTE. Two and a half years later, after lots of anxiety from falling behind and REALLY STRUGGLING to keep up with the payments, I found a bogus savings account ($16,000) stuffed in the asset statement. I’m in the car business, and if I were to do that and transmit it to the bank, VIOLA! WIRE FRAUD charges are coming MY way if I get caught. Now, the closing instructions (to the closing agent) required that I tender funds drawn on that particular account (the one that didn’t exist), and of course, I tendered funds drawn on a different bank. Now that I have discovered these items, I put the title agency on notice (two different letters) that an error and omissions claim is in order and I will be naming him and his company as “co-venturer’s and co-conspirators” in this fraudulent closing. NO RESPONSE WHATSOEVER! So what is the title agency’s liability for the generation of the bogus documents, and does a conflict of interest exist? If the bank requested certified funds to verify the existence of the account (which did not exist) isn’t this an “error” on their part? I think YES, and I will KNOW next week after I meet with my attorney handling the case. If there is a real claim to be had, I will post the answers to these questions later in the week.

  67. Check the title insurance policy, and its confirmation letter. My late mother’s confirmation letter ALSO insured her closing.

    The issuing agent knew of the forgery of Mother’s signature, and of the false work and earnings documents that fraudulently qualified my Alzheimer’s-ridden mother for a predatory loan she could ill afford. IOW, he was in on the fraud.

    When I went to make a claim, the title insurance company had the gall to claim since Mother’s signature was forged, she was not an Insured, or since my brother forged her signature on a quitclaim conveying her property to him, in violation of self-dealing prohibitions, I was not an Insured either, etc. Clearly, they don’t like paying claims.

    Looks like I’ll have to sue the title insurance company under Florida’s UDAP and other statutes. I feel like the dying patient who needs to sue her insurer to force them to approve payment for the treatment she needs to save her life.

    To add insult to injury, the state body that regulates this Florida firm didn’t have a clue what title insurance covers. So much for toothless regulation.

    Anyone have any suggestions?

    Allan
    bemoved@aol.com

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