Legal Question in Real Estate Law in District of Columbia

lien release
Where payoff escrow check is stamped in the endorsement with the following: ''Your endorsement of this payoff check assigns the note to and authorizes the title co. to release any mortgage or deed of trust securing the note,'' does title co then become ''noteholder'' for purposes of executing certificate of satisfaction? Does title co then become subject to 30-day time period for forwarding release docs? Is lender released from its obligation to provide valid release docs by operation of this assignment? Where title co collects $150 ''release servicing fee'' but performs no services, is there a violation of RESPA? Since lender requires borrower to pay closing agent's fees, is lender violating TILA by not including the bogus charge as a finance charge?

Asked on 4/02/04, 10:32 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: lien release

Without a close inspection of each of the documents associated with the various transactions

which you've described, it would be irresponsible to speculate as to who may be liable for what.

Answered on 4/02/04, 11:06 pm

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