[Brilliant]

It would be very easy to get title insurance with this. There is no defect at all. The mortgage would be listed as an exception to title no matter who owns it.

[AndyJackson]

It would be very easy to get title insurance with this. There is no defect at all. The mortgage would be listed as an exception to title no matter who owns it.

I think he is talking about the next guy to try to take title after foreclosure. When a mortgage is assigned 3 different ways and one forecloses to secure his portion of the debt, what happens to the coequal claims of the other 2 trustees / mortgage pools?

[investigateworld]

Bit of an update: spoke with a salesman who handles a RE broker buddy's account. He's happy to see 'this examination' it as it would be a nightmare should anyone actually ever pay off a mortgage via making the last payment. Of course his company wouldn't handle a policy involving any question of successor holders of the mortgage.

He predicts it will force the back office paperwork guys to get on the ball, thus a win - win situation.