Section B(8): Satisfaction of mortgage
liability covers errors and omissions arising out of the insured's connection with the satisfaction of a mortgage on property in which the insured holds an insurable interest.
During the quarter ended March 31, 2009 gain on satisfaction of mortgage
loans was $0, compared to $634,000 for the same period in 2008.
Examples of documents that can be prepared using TitleRight include Grant Deeds, Warranty Deeds, Quitclaim Deeds, Affidavit Terminating Joint Tenancy, Certificate of Incumbency, Deeds of Trust, Satisfaction of Mortgage
and many others.
The primary reason was increased gains on satisfaction of mortgage
loans, which contributed $999,000 ($.
05-Jan-06 Form 403a Declaration of Satisfaction of Mortgage
The primary reasons were increased gains on satisfaction of mortgage
loans and increased residual interest income net of interest expense, which together contributed $317,000 ($.
02 diluted per share) of gains on satisfaction of mortgage
The principal reason for the increase was $476,000 from gains on the satisfaction of mortgage
After you've paid off the mortgage, the bank is obligated to record a satisfaction of mortgage
The increase in income from continuing operations was primarily due to an increase in gains on satisfaction of mortgage
loans and a decrease in interest expense on underlying loans due to principal amortization.
The increase was the result of the recognition of a gain on satisfaction of mortgage
loans of $502,000 during the quarter ended June 30, 2004.