TITLE REQUIREMENTS FOR TERMINATED PROPERTIES
MINNESOTA

Title 38 CFR 36.4319 requires the holder of a VA guaranteed mortgage to send a copy of every procedural paper filed by or served upon the holder in any legal and/or foreclosure action to VA. These procedural papers are:

TITLE REQUIREMENTS FOR FORECLOSED PROPERTIES

Abstract Property:

1. Mortgage and all Assignments. (Originals or certified copies)
   
2. Mortgage Note endorsed without recourse to "Secretary of Veterans Affairs, an Officer of the United States."
   
3. Original Mortgagee's Title Insurance Policy, Survey, or other document relating to title.
   
4. Any deeds involving subsequent transferees who obtained title after the original veteran- purchaser.
   
5. Any bankruptcy documents filed by the borrowers.
   
6. The original or certified copy of the recorded Sheriff's Certificate and Foreclosure Record.
   
7. The original or certified copy of the recorded Assignment of Sheriff's Certificate, with warranties, in favor of "Secretary of Veterans Affairs, an Officer of the United States, whose address is, c/o Ocwen Federal Bank FSB, 12650 Ingenuity Drive, Orlando, FL 32826".
   
8. EITHER:
   1. A final owner's title policy scheduling the foreclosure and naming "Secretary of Veterans Affairs, an Officer of the United States, whose address is, c/o Ocwen Federal Bank FSB, 12650 Ingenuity Drive, Orlando, FL 32826, His or Her Successors and Assigns", as an insured. Insurance should be obtained in an amount not less than the bid at the Sheriff's sale and will include an allowable exception in Schedule B indicating the owner's right of redemption. (See Loan Guaranty Memorandum 88-14) OR:
   2. Complete "Abstract of Title", continued to show the foreclosure sale. If a final owner's policy is obtained, abstract continuation will not be required or reimbursed on the claim; any abstract in possession, however, should be forwarded to VA.

Registered Land (Torrens)

Send (1) through (8) above, plus the Registered Property Abstract, dated after the foreclosure sale. NO TITLE POLICY NEEDED.

If foreclosure was by judicial action, also send copies of all foreclosure papers (Pleadings and orders, etc., if not already provided).

TITLE REQUIREMENTS FOR VOLUNTARY CONVEYANCE

Abstract Property

1. Mortgage and all Assignments, recorded (Originals or certified copies)
2. Mortgage Note endorsed without recourse to "Secretary of Veterans Affairs, an Officer of the United States."
3. Proof of any conveyance involving subsequent transferees who obtained title after the veteran-purchaser.
4. Mortgagee's Title Policy.
5. Recorded Warranty Deed from owner to holder.
6. Recorded Warranty Deed transferring title to "Secretary of Veterans Affairs, an Officer of the United States, whose address is c/o Ocwen Federal Bank FSB, 12650 Ingenuity Drive, Orlando, FL 32826".
7. Estoppel Affidavit signed by Owner.
8. Satisfaction of Mortgage by Holder (recorded).
9. EITHER
   1. A final Owner's Title Policy showing clear title in the name of the "Secretary of Veterans Affairs, an Officer of the United States, whose address is c/o Ocwen Federal Bank FSB, 12650 Ingenuity Drive, Orlando, FL 32826, His or Her Successors and Assigns"; OR in the alternative
   2. An Abstract of Title that has been continued to a current date with usual searches (including, judgement, bankruptcy and taxes).

Registered Land

Send (1) through (9), above, plus a Registered Property Abstract; and when available, a copy of the Certificate of Title, showing clear title in the name of the Secretary of Veterans Affairs, as requested above.

MAILING ADDRESS: Send all legal documents for properties located in Minnesota within 180 days of the foreclosure sale to the following address:

COUNTRYWIDE HOME LOANS
ATTN: VA REO
MS RGV-B-85
2375 N GLENVILLE DRIVE
RICHARDSON, TX 75082