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ALTA: Protecting property rights with title insurance

Housing Wire

Much of the expense is invested in the efforts of land title professionals to review the title and purchase title data from local governments. Having owner’s title insurance means the cost of defense and legal fees that typically would be the homeowner’s responsibility instead are paid by the title insurer.

Insurance 492
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Magistrate judge recommends $46M in restitution from former Live Well CEO

Housing Wire

government and former Live Well Financial CEO Michael Hild regarding a restitution amount owed to the company’s creditors, a magistrate judge overseeing the issue has recommended that Hild pay more than $46 million. Attorneys for Hild and the government have been at odds for the better part of a year over restitution.

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Going to Extremes

Appraisal Buzz

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks.

HOA 370
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Streamlining subsidies to build more affordable housing

Housing Wire

To help the lowest-income families, who increasingly can’t find affordable housing in today’s market, federal, state, and local governments devote considerable resources to subsidize the development of affordable housing with below market rents. Every state in the nation is impacted by this demand-supply imbalance.

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Lenders must address repurchase risk before they go bust

Housing Wire

The cost of a bad hand When selling a loan, lenders provide legal assurances to the government-sponsored enterprises ( GSE s) that guarantee the accuracy and completeness of the loan data, known as representations and warranties. These reps and warrants cover borrower income, employment, and property information.

Investors 292
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Title insurers reckon with attorney opinion letters

Housing Wire

Since the government sponsored entity’s announcement, the American Land Title Association has taken a strong stance against AOLs and other title insurance alternatives. If the buyer is unable to prove negligence on the part of the attorney, the claimant would likely need to pay the legal costs involved to litigate the title matter.

Insurance 316
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Classifying Mortgages and HOA Super Liens

Appraisal Buzz

The governing documents for the association were recorded in 2013. Of importance in this matter, pursuant to the governing documents, monthly assessment payments were due on the tenth of each month. In September 2021, Fendee recorded its lien against Gould for unpaid association assessments, fines, penalties, interest, and legal fees.

HOA 221