Mortgage Market Share Report – November 2011

?All objects lose by too familiar a view.?

~ John Dryden

Sometimes you?re so close to something that you forget that not everything is obvious. Recently I was asked some questions about the data in our report, what it means and where it comes from. So I thought that I?d start the New Year with an explanation.

The Mortgage Market Share Report has been published monthly by John Bethell Title Company, Inc. and its predecessor All American Title, Inc. since 1996. The report is a summary of the total mortgages recorded in Monroe County for the month and for the year to date. Both the number of mortgages and the aggregate stated original loan amounts are tracked by lender.

At the end of each quarter the report also includes data presented to give a more complete understanding of the real estate market in Monroe County. Historical trends, total sale transactions, the breakdown of primary residential sales by price, new foreclosures started and recorded Sheriff?s deeds are included.

The data comes from our proprietary in-house property records data base. This data base is an index to every real estate related document recorded in the Monroe County Recorder?s office and the Clerk of Courts? office. The data base is updated daily as documents are placed of record in the county offices. The primary use of the data base is to enhance the speed and accuracy of the title work that we perform for our clients. The statistical information is a useful by-product. The sale data is supplemented by Indiana Sales Disclosure information maintained by the State Department of Local Government Finance.

One of my resolutions for 2012 is to improve the timeliness of the report by a week to ten days. Wish me luck!

~John Bethell