Title agent uses fight and humor to survive cancer
For the fourth year, October Research, LLC, sets aside two weeks to support the Stefanie Spielman Fund for Breast Cancer Research during Breast Cancer Awareness Month. The disease has affected many in the settlement services, financial and real estate industries, and we bring you one such story from cancer survivor Michelle Kynkor of Gateway Title. Read on for her story.
A look back: The Legal Description celebrates 15 years
Every other week, for the past 15 years, The Legal Description has brought the best in news and legal coverage of the settlement services industry. What began at the dawn of a new millennium would see the housing boom and the Great Recession, the birth of RESPA reform, the dawn of the Consumer Financial Protection Bureau (CFPB), and a host of lawsuits stemming from the aftermath of the housing crash.
Title issues cloud loan modification, foreclosure suit
After falling behind on their mortgage payments, a Minnesota couple attempted to modify their mortgage. They successfully went through a trial modification period, but a permanent modification was halted after the bank discovered tax liens on the property. While attempting to subordinate the tax liens and/or secure title insurance, modification agreements continued to derail and the homeowners filed suit. Read on for more details.
Illinois clerk indicted for preparing fradulent real estate deed
A former clerk for the Cook County Recorder of Deeds in Illinois accepted a $200 cash bribe in exchange for preparing and agreeing to record a back-dated deed on an Oak Park home, according to a federal indictment.
What damages is bank entitled to after falling victim to fraudulent transactions?
Acting as receiver for a bank, the Federal Deposit Insurance Corp. sued a national underwriter and others in connection with four fraudulent “flip” transactions. The title insurer moved for summary judgment, arguing that the FDIC’s damages are limited to the amount of the deficiency judgments that the bank obtained at foreclosure sales of the properties at issue. Read on for more details.
Title insurer sues employee for stealing from escrow accounts
After investigating an escrow administrator’s actions, a title insurer discovered that the employee had stolen at least $1.6 million from various escrow files. It sued the employee and the companies and family members he placed the money with in an effort to get those funds back. Read on for more details.