Historical Lender Requirements
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A Lender Is Claiming Against Your Firm: Which Handbook Instructions Applied?
A lender alleges that your firm failed to report a title defect, breached its mortgage instructions or submitted a Certificate of Title without the necessary authority. Before assessing that allegation, establish exactly which instructions applied to the transaction. The lender’s current Handbook wording may not reproduce the requirements in force when your firm received its…
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Absent Freeholder: What Did Your Mortgage Lender Require When You Bought?
Historical lender requirements for an absent freeholder can matter when a flat becomes difficult to sell or remortgage. The original purchase may have completed with a mortgage and an indemnity policy. Years later, a buyer’s lender asks questions that nobody can answer. Why did the first lender proceed? Was the freeholder already missing? What was…