Demotech releases report

The collapse of the financial markets compounded these losses in operations and consequently led to a decrease in Net Investments of 28 percent for all companies from the previous year. These results contributed to a Net Loss of nearly $400 million for the industry. While all of the NAIC Title underwriter groups reported a Net Loss, the unaffiliated Title underwriters combined for a Net Gain.

here's a RESPA question for you

NAMB announces:On Tuesday, April 28, 2009, the House Financial Services Committee voted in favor of attaching an amendment to H.R. 1728, "The Mortgage Reform and Anti-Predatory Lending Act of 2009" that would withdraw the Final RESPA Rule. The amendment, offered by Representative Judy Biggert (R-IL), stated that the Department of Housing and Urban Development (HUD) should work in conjunction with

LinkedIn

In an earlier post I mentioned that I couldn't find a real live human being to assist in researching a potential fraudulent transaction involving PNC. For the heck of it, I did a search on LinkedIn for PNC and mortgages. I found an officer in the mortgage arena who was connected to one of my colleagues and through him I contacted her. It worked! She responded and within a few days, the PNC

NAILTA news

Can you believe it has been six months since our meeting in Pittsburgh!Well, a lot has been happening at NAILTA headquarters. If you have not hada chance, please check-out our new and improved website www.nailta.org.As with any new start-up, the process of forming NAILTA has taken longerthan some might have wanted or expected but you can be assured that yourPresident, Board of Directors, and

I'm not a subscriber but here's an interesting headline in RESPAnews.com

BREAKING NEWS: Federal judge determines real estate firm liable in unearned fee class action Wednesday, April 22, 2009 In an opinion issued Monday in a RESPA class action lawsuit, a federal judge determined that a real estate firm was liable for charging illegal fees to more than 30,000 customers in violation of RESPA.

bitch bitch bitch bitch bitch

You think there's a problem in the title insurance marketplace here in PA? Well, you've got a chance to express your opinion directly to the horse's mouth, the PA Dept. of Insurance is asking for input.See the prior post. If you are an abstractor, notary signing agent, title agent or consumer of title services, NOW is your time to try to make a difference. It's all gonna be on the table, I

Geez it's hard to find a human being when trying to contact a big company.

I just can't get a person who can help me research a potential fraud against PNC Bank. Whether through the web or phone system, the wall between outside and inside communications is just too thick. Oh, yes, I can reach a human but not one who can direct me to the right spot or when they think they do I go into yet another phone maze with no way out.Trying to help you, PNC. Call me.

public hearing on title insurance in PA...May 28th

Public Hearing on Title Insurance Rates and Practices The Pennsylvania Insurance Department (“Department”) will hold a public informationalhearing on title insurance issues on Thursday, May 28, 2009 at 10 a.m. in Hearing Room 4 at the Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120. The hearing willconsider the full scope of issues currently under consideration within the

PA title agents, even if you have no funds to escheat,

you need to file a negative holdings report. It's easy. You can do it on-line and it takes less than five minutes. Follow this link. Once you register, you'll need to give them your asset size, annual sales and number of employees, then click submit and you're done.Since the state has taken the time to send a reminder, I take that as a signal of increased audits this year. That's what

Mortgage fraud always surprises me....

and you'd think by now title agents would STOP enabling or colluding to defraud lenders.You know, younger, inexperienced, or stupid title agents might make the argument that they didn't understand that having two settlement statements was mortgage fraud. Though they'd still be held accountable by authorities, someone might have believed them a year or two ago.Now, anyone in this business who

Pennsylvania outlaws stated income mortgage loans

"Stated income loans present opportunities for abuse on both sides of the transaction," Kaplan said. "The new documentation requirements will go a long way in reducing the potential for fraud and dishonesty." The new regulation also requires lenders and brokers licensed by the department to use a new, simplified, one-page disclosure form that calls attention

NAILTA.ORG Spring Conference

You can now register for the conference at http://www.eventbrite.com/event/320490596.

unrecorded spousal waiver

There's just no wiggle room to use unrecorded spousal waivers. We have to either have the spouse sign the mortgage to validate the lien or attach a recorded spousal interest subordination to the instrument. The only alternative is to use an unrecorded spousal waiver with an exception in the loan policy for the spousal interest and I just can't think of a lender that wants an exception for