|
Who bears risk of loss after escrow agent defalcation? Wednesday, April 10, 2024 The Court of Appeals of Washington recently determined who bore the risk of loss after an escrow agent absconded with the escrow funds before the escrow conditions were satisfied. The trial court had concluded the borrower bore the risk and dismissed the borrower’s claims against the lending entities, and the borrower appealed.
MBA shares concerns on GSE title acceptance pilotWednesday, April 10, 2024 The Mortgage Bankers Association wrote to Federal Housing Finance Agency (FHFA) Director Sandra Thompson to voice its concerns regarding the FHFA’s title acceptance pilot.
California considers mortgage fraud legislation Wednesday, April 10, 2024 The California General Assembly is considering legislation that would prohibit the filing of fraudulent documents with the county recorder and amend the definition of mortgage fraud.
New York considers flood insurance limits Wednesday, April 10, 2024 The New York State Legislature is considering legislation that would prohibit mortgagees from requiring mortgagors of certain real property to purchase flood insurance exceeding certain limits.
Defendants seek dismissal from RICO suit Monday, April 8, 2024 In a case originally brought by a title insurer related to a fraudulent wire transfer, a group of defendants sought dismissal from the suit, arguing that the court lacked jurisdiction over them.
Qualia appeals ruling in licensing dispute with Stewart Monday, April 8, 2024 Qualia Labs Inc., d/b/a Qualia Software Inc., filed an appeal in the Fourteenth Court of Appeals of a decision handed down last month by the District Court of Harris County, Texas, granting Stewart Title Co.’s motion for summary judgment in their software licensing dispute.
Treasury releases report on managing AI cybersecurity risks Monday, April 8, 2024 The U.S. Department of the Treasury released a report on managing artificial intelligence-specific cybersecurity risks in the financial services sector. The report was written under the direction of Presidential Executive Order 14110 on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.
Georgia passes identification for recording requirements Monday, April 8, 2024 The Georgia General Assembly passed legislation that requires clerks of superior courts to obtain photographic identification cards of individuals who present deeds or other instruments for recording. The bill awaits the governor’s signature.
Jury convicts real estate developer of mortgage fraud Monday, April 8, 2024 A jury convicted a real estate developer of forging signatures to obtain an $11.5 million residential mortgage loan and to conceal her multi-year theft of company funds as the managing member of a townhouse renovation project.
|
|