In a lien theory state such as New York, the property buyer/mortgagor continues to hold the deed to the property until the loan is satisfied, or fully paid back to the lender! At that time, a Satisfaction of Mortgage should be recorded. This scenario differs from title theory states in which a Deed of Trust is issued […]
On December 2, 2016 Hallmark Abstract President Michael Haltman wrote an article concerning the significant new mortgage recording fees set to be imposed by Suffolk County, New York! In the article Haltman opined that the new fees represented ‘an egregious money grab and as regressive a tax as has been seen in some time! And, by some […]
Update December 7, 2016: The new fee discussed below has been passed by the Suffolk County legislature per the County website… $300.00 per document MORTGAGE VERIFICATION FEE effective January 1, 2017 Suffolk County, New York has announced a new fee that will be required to record certain mortgage and mortgage-related documents! To this observer, this seems to be […]
If You’re Thinking About Buying Your First Home… Would you, or maybe someone you know, like to attend a short seminar where in one location you can meet all of the professionals who are involved in the process of buying a home, learn from them about some of the potential pitfalls along with the ways […]
Hallmark Abstract Service Is Looking Forward To Exhibiting At: The Long Island Real Estate Expo When: Saturday, April 23, 2016 Where: The Long Island Marriott, 101 James Doolittle Blvd., Uniondale, New York Time: 10:30AM until 4:00PM Special Guest: Luis D. Ortiz From The Bravo Show “Million Dollar Listing New York.” Where Do You Register To Attend: https://lnkd.in/enM-arQ Michael Haltman is […]
As mortgage loans originated to subprime borrowers are once again on the rise, so too is the delinquency rate for subprime auto loans! So for the buyers of securities backed by either subprime mortgages or auto loans as well as for the banks originating these loans, is there a cause for concern? In other words are we […]
The desire to buy a home is all well and good but, unless it’s an all-cash transaction, financial decision-making is critically important! Post-financial crisis the underwriting methodology and criteria for residential mortgage loans swung in the exact opposite direction from where they had been in the go-go years of real estate. Before the financial crisis and in […]
Summary: With an eight-year easy money policy from the Federal Reserve (ZIRP) and real estate prices in some regions above pre-financial crisis highs, subprime mortgages are making a comeback! Subprime mortgage loans yes, but apparently not in the pre-2008 financial crisis form of ‘Liar Loans’! Liar Loans: ‘A category of mortgages known as low-documentation or no-documentation […]
Summary: Fed rate hikes, like eating Lay’s potato chips, are rarely done just once. Will the Fed raise rates tomorrow as expected and then what will be its plan going forward? ‘Fed Decision: It’s The Final Countdown (Video)‘ Today the Fed begins to deliberate about what will likely be the first interest rate hike in nine […]
For anyone earning their living selling or manufacturing a quasi-commodity product, you know exactly what I’m talking about! Please notice, however, that the prefix quasi was strategically placed in front of the word commodity. The reality is that while end products may be somewhat similar from any number of providers, all of those end products are not necessarily created […]
