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Making Assignments in the Dark

Livinglies's Weblog

Editor’s Note:  In this industry article, Nationwide Title Clearing, Inc. insinuates that a bank should obtain a chain of title report before assigning a note to ensure that the manufactured paperwork creates the appearance of a clear chain of title.  Although the article doesn’t mention exactly how to cure any chain of title issues, it would appear NTC is recommending that banks invest in a report so they don’t make accidental and expensive errors by creating a defective assignment that doesn’t mesh with the public recordings and results in the loss of a home or lawsuit.

Making Assignments in the Dark

The chain of title is the guy-wire that holds the home finance industry upright. Without some method to determine who owns a given parcel of real estate, it cannot be used as collateral for a loan. In cases where these loans go into default, a clear…

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