Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

February 4, 2009

Where’s the Increase?

by @ 1:22 pm. Filed under Registry Ops

Throughout most of December and a large part of January we “casually” heard from numerous Attorneys and Title Examiners that our business was going to increase within the next few weeks. Its a fact that low interest rates spurred a rise in mortgage applications over the past two months…but, what about registry recordings? Unfortunately, the increase in applications has not caused an increase in recordings at the registry of deeds. The discrepancy between what we were told (and expected) and what is actually happening makes me wonder…why? Again, back people in the field…the talk is that the main reason mortgage closings are not flooding in seems to be appraisal problems. Many homes are currently not valued high enough to cover the mortgage owed. Another reason circulating is that the banks have tighten up on credit ratings. But remember neither of these may be the case and there may really be a windfall of recording in the next few weeks…we’ll wait and see.

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