|
Massachusetts considering notary public statute
Posted Date: Monday, June 27, 2016
The Massachusetts General Court is considering a bill that would regulate notaries public to protect consumers and the validity and effectiveness of recorded instruments. Read on for more details.
|
|
|
Bank, title insurer dispute breach of closing
Posted Date: Monday, June 13, 2016
A bank and a title insurer both sought summary judgment on breach of contract claims the bank brought against the title insurer as part of a larger suit brought against individuals and entities the bank claims were involved in a mortgage fraud scheme. Read on for more details.
|
|
|
Homeowner claims title insurer compliant in fraud
Posted Date: Thursday, June 23, 2016
After discovering that he had been defrauded by the mortgagee on his property and subsequently having foreclosure proceedings initiated against his property, a homeowner sued its title insurer for, among other things, breach of fiduciary duty and negligence because he claims the insurer knew, or should have known, about the scheme. Read on for more details.
|
|
|
Owners seek defense of quiet title action
Posted Date: Tuesday, June 21, 2016
After their lender filed a mortgage foreclosure action against their property, the lender proceeded to file a quiet title action against the current and previous owners of the property for reformation of the legal description. The owners turned to their title insurer, who denied coverage, and proceeded to sue the title insurer for failing to defend. Read on for more details.
|
|
|
CFPB proposes Gramm-Leach-Bliley change
Posted Date: Tuesday, July 5, 2016
The Consumer Financial Protection Bureau proposed to implement recent Congressional legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers. Read on for more details.
|
|
|
Senate to consider zombie foreclosure legislation
Posted Date: Monday, June 27, 2016
U.S. Senator Bob Menendez, D-N.J., unveiled federal legislation that takes aim at zombie homes that plague communities and drive down property values. Among other things, it would require mortgage servicers to take steps to prevent zombie foreclosures from happening. Read on for more details.
|
|
|
Ohio abandoned foreclosure bill signed
Posted Date: Tuesday, July 5, 2016
Ohio Gov. John Kasich has signed a bill that will, among other things, expedite foreclosures of abandoned properties. Read on for more details.
|
|
|
State adopts commissioner of deed bill
Posted Date: Monday, June 27, 2016
A bill that clarifies the lieutenant governor’s authority relating to commissioners of deeds has been signed by the governor of Hawaii. Read on for more details.
|
|
|
|
Loan Application Defect Index continues to decline
Posted Date: Tuesday, July 5, 2016
In its Loan Application Defect Index for May 2016, First American Financial Corp. reported the continued decline of the index over both May 2015 and April 2016. Read on for more details.
|
|
|
Department of Financial Services submits annual report
Posted Date: Monday, June 27, 2016
The New York State Department of Financial Services submitted its 2015 annual report to the governor and state legislature. Read on for more about what it said about the title insurance industry.
|
|
|
Former attorney going to prison for client theft
Posted Date: Wednesday, June 29, 2016
The Manhattan District Attorney announced the sentencing of a former real estate attorney to four to twelve years in state prison for stealing more than $4.5 million from seven of his clients. Read on for more details.
|
|
|
Courts take different approach to determining date of loss
Posted Date: Tuesday, July 19, 2016
Courts in two states looked for the first time at how to determine the date to calculate damages under a lender’s title insurance policy. In each case the title insurer argued that any damages should be calculated from the time the lender foreclosed on the property, while the lender argued the damages should be calculated from the date the loan closed. The courts took different approaches to addressing the issue.
|
|
|
New York State launches zombie property hotline
Posted Date: Wednesday, June 29, 2016
New York Gov. Andrew Cuomo announced a consumer hotline to accept reports of zombie properties across the state. He also announced the establishment of an electronic registry of vacant properties to expedite their rehabilitation. Read on for more details.
|
|
|
Underwriter, law school team up to offer education opportunity
Posted Date: Wednesday, June 29, 2016
North American Title Insurance Co. (NATIC) has announced a new collaboration with the University of Miami School of Law that will provide a unique educational benefit to its lawyer agents and approved attorneys through the school’s Robert Traurig-Greenberg Traurig Real Property Development LL.M. Read on for more details.
|
|
|
Florida man found guilty of mortgage fraud
Posted Date: Wednesday, June 29, 2016
A Bradenton, Fla., man was found guilty by a federal jury of three counts of wire fraud. He faces a maximum penalty of 30 years in federal prison on each count. Read on for more details.
|
|
|