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Dealing with Defects in Non-Judicial Foreclosure States

On Thursday, the Legal League 100 held a webinar with a focus on title defects and how they can disrupt the foreclosure process, titled “How to Lose Your Case Before It Starts-Title Defects.”

"We are pleased to be able to provide these type of educational opportunities for the industry," said Legal League 100 Executive Director Derek Templeton. "Whether it be by conducting webinars, producing reports, or simply providing a forum for legal professionals to collaborate with their mortgage servicing partners at the Legal League 100 Servicer Summits, we look forward to further showcasing the expertise represented by our member firms."

The webinar was provided free of charge the mortgage servicing industry and hosted by Jim Deloach, Senior Counsel at McCalla Raymer Liebert Pierce, LLC and Chairman of the Legal League 100 Education Subcommittee. The speakers, in addition to Deloach, were Caren Jacobs Castle of the Wolf Firm, Shaun Ramey of Sirote and Permutt, and Morgan Weinstein of Van Ness Law Firm.

For approximately 45 minutes, the experts covered multiple scenarios title defects could rear their ugly head. Topics covered included wrongful release of a lien, servicing transfers, correcting recording issues, and statute of limitation concerns.

A portion of the webinar cited case studies on hot topics specific to individual states, with the understanding that any of these issues could easily spread to neighboring states.

For example, Shaun Ramey notes differences to consider in judicial states like Florida, compared to non-judicial states.

“Are we talking about maybe a single woman buying the property, but the mortgage doesn’t provide if she has a spouse or not,” said Ramey. “In judicial states like Florida, you may want to name an unknown spouse, so if she got married at any point, then you are also able to take out the interest of a spouse”

To view the webinar click here.

The Legal League 100 is a professional association of default servicing law firms and service providers created in collaboration with the Five Star Institute. The League plans on hosting future webinars in order to bring the leading experts of the mortgage servicing industry to your desktop.

Legal League 100 will host its annual Spring Summit on May 10,2017 in Dallas Texas. This event is open exclusively to lenders, servicers, GSEs, regulators, and members of the Legal League 100.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.

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