New Case on Quiet Title to Clear Mortgages

08/20/2012 4:36 PM | Anonymous
The federal district court was recently called upon to review one of claims that a borrower can "quiet" a mortgage based on defects in the subsequent assignment or securitization.   Even though the court didn't address the ultimate issue, granting leave to amend, it is interesting reading. 

http://docs.justia.com/cases/federal/district-courts/florida/flsdce/9:2012cv80368/397871/14/0.pdf?1340965963

Even where a borrower is successful with this tactic, my understanding is that most underwriters are hesitant to insure over a recorded (albeit quieted) mortgage.  Please discuss with your underwriter.


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