The new Lien Release Information Services enables customers to electronically update mortgage records using information abstracted from grant deeds, deeds of trust
, mortgages, assignments and other premium content compiled by First American RES in more than 1,370 counties across the United States.
He would obtain these investors' money supposedly to buy these second deeds of trust
at higher than normal interest rates,'' he said.
Many "standard" deeds of trust
prohibit leases in excess of five years.
In theory, Polo, which also served as escrow agent on many of the loans, would send The Money Store deeds of trust
on homes being borrowed against.
To date, Utah-based Silverleaf Financial, a distressed real estate company focused on purchasing first position Deeds of Trust
secured by income-producing commercial real estate, has purchased more than 100 performing and non-performing loans, totaling over $400 million in face value.