Insuring Over Old Deeds of Trust
There are two Underwriting questions that we field more than any other (and it’s not even close). The first relates to issues surrounding Estates. The second is associated with old Deeds of Trust that have presumably been paid, but remain uncanceled on the public records. We look at multiple factors when faced with this underwriting decision, including, but not limited to: Documents that show the indebtedness was paid at a prior closing, whether the debt was refinanced multiple times after the Deed of Trust was recorded, the maturity date on the Deed of Trust and whether or not the Deed of Trust relates to the current owner or a prior one (especially if the current owner has an Owner’s Policy that does not except to the Deed of Trust).
There is one little trick that we use to help us assess our risk that some of you may not know about. If the Deed of Trust lists Mortgage Electronic Registration Systems (MERS) as a nominee for the Lender, then there is a tool that will help us understand whether or not the Deed of Trust is perceived to be active or not. Simply go to this link and enter the MIN that appears in the upper right-hand quadrant of the first page of the Deed of Trust. While we may not be willing to rely on this fact solely, if the website shows that the Deed of Trust is inactive, it is really good supporting evidence.
Anyone interested in finding out more about what the heck MERS is, can visit this Wiki Page.
Maple Granola Recipe
by Jennifer Conrad
Many of you know and love Jennifer’s granola so here’s the recipe for you!
¼ cup flaxseeds, processed fine
6 cups rolled oats (not instant)
2 cups plain almonds, sliced
1 cup plain pumpkin seeds
½ cup plain sunflower seeds
1 tsp salt
¾ cup canola oil
¾ cup maple syrup
2 cups dried cherries or other dried fruit (optional)
*Can substitute equal amounts of other nuts
Preheat oven to 350 degrees. Mix all ingredients except dried fruit in a large bowl. Spread evenly in large, shallow baking pan lined with parchment paper. Bake 30 minutes or until golden brown, stirring every 15 minutes. Cool completely and toss in fruit. Store in airtight container.
March Madness! Who’s Ready???
Selection Sunday is on 3/17 and Barristers Bracket Challenge is back!
Make sure to check your email for your bracket that following Monday!
The Quill Riddle?
I am over 10 years old. My favorite colors are black and silver. I love to help. A feather is how I’m known. I’ve had a facelift. Who am I?
E-mail Summer with your guess! The first to get the answer will win a prize AND receive some top secret information!