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Utah Insurance Department issues title records bulletin
Posted Date: Thursday, October 23, 2014
The Utah Insurance Department issued a bulletin highlighting the statutory requirements relating to the retention of title related records and escrow related records. Read on for more details.
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Bank sues title insurer for bad faith after foreclosure, mistaken court filing
Posted Date: Monday, July 14, 2014
A bank filed suit against a title insurer for breach of contract and bad faith under a title insurance policy with respect to a securitized mortgage of which the bank is the trustee. After a U.S. district court granted the title insurer’s motion for summary judgment, the bank appealed to the 3rd U.S. Circuit Court of Appeals.
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First American named third-party defendant in federal tax lien lawsuit
Posted Date: Wednesday, July 16, 2014
A California magistrate declared that a lien on land owned by a property management firm should be given priority over a government tax lien, while also finding that First American Title Insurance Co. wrongfully diverted in loan proceeds that were subject to the tax lien.
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Complex quiet title case in Oregon will proceed to Rule 16 status conference
Posted Date: Wednesday, July 16, 2014
A complex case involving a legal description dispute on property in Oregon will proceed to a Rule 16 conference to consider pending motions to dismiss filed by multiple defendants, after a district court previously abstained from exercising jurisdiction over the claims while a state court claim was pending.
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Brother, sister among those convicted in mortgage fraud conspiracy
Posted Date: Thursday, October 9, 2014
A federal jury convicted a brother and sister and one other person for conspiring to defraud financial institutions as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.
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Suspended lawyer indicted for title fraud
Posted Date: Tuesday, October 14, 2014
A Pennsylvania attorney who previously had been suspended for issuing title policies after a title insurer had terminated its agency agreement with her, has been indicted for defrauding lenders and homeowners of $72,000 in title insurance premiums she was not authorized to receive.
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New York attorney general sues two law firms for fraud
Posted Date: Tuesday, October 7, 2014
New York Attorney General Eric Schneiderman filed a lawsuit in New York County Supreme Court against two law firms and their lead attorney, accusing them of participating in a fraudulent mortgage rescue scheme. Read on for more details.
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eLynx unveils escrow funds management service
Posted Date: Thursday, October 16, 2014
eLynx, a portfolio company of American Capital, and PCN Network LLC, announced a strategic partnership to offer Safe Escrow Services, a new service that provides a more secure way for lenders to ensure the safe and proper disbursement of escrow funds at the conclusion of a mortgage closing.
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First Nationwide Title Agency appoints senior counsel
Posted Date: Thursday, October 16, 2014
First Nationwide Title Agency announced that Vincent Danzi has been appointed senior vice president and senior counsel in the company’s Uniondale, N.Y., office in Long Island. A title industry veteran, with more than 13 years in the business, Danzi is in charge of FNTA’s regulatory and compliance issues, as well as building out and growing the agency’s high-end, luxury residential practice.
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CPA firm launches program to aid in title agent compliance
Posted Date: Thursday, October 16, 2014
Habif, Arogeti & Wynne, LLP (HA&W), the largest Georgia-headquartered tax, accounting and business advisory firm, introduced its ComplianceSuccess Program. The program aids title agents with compliance benchmarking, readiness and assurance reporting services for best practices.
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Tweaks proposed to mortgage disclosure rule
Posted Date: Tuesday, October 28, 2014
The Consumer Financial Protection Bureau (CFPB) knows how to keep everyone on their toes. Just when it seems like things have settled and people are preparing for the new disclosures, the bureau has come out with a couple proposed amendments to the TILA-RESPA Integrated Disclosure Rule.
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Super-priority of HOA liens debated in highest D.C., Nevada courts
Posted Date: Tuesday, October 28, 2014
Courts in Washington, D.C., and Nevada made headlines in the last few months for upholding a law that, before now had been relatively unchallenged in these or other states in the country. The laws at issue allowed homeowners’ associations in each jurisdiction to have super-priority over even first deeds of trust, and even extinguish those mortgages.
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Tweaks proposed to mortgage disclosure rule
Posted Date: Thursday, October 16, 2014
The Consumer Financial Protection Bureau has come out with a couple proposed amendments to the TILA-RESPA Integrated Disclosure Rule. Read on for more on the CFPB’s proposal.
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Whistleblower sues for violations against government
Posted Date: Tuesday, October 14, 2014
A former employee of a title insurer alleged that the title company submitted false or fraudulent claims to the government in violation of the False Claims Act when it did title work for Freddie Mac. He also alleged that he was retaliated against after he brought the investigation to the company.
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Report highlights state changes in security breach notification
Posted Date: Tuesday, October 14, 2014
As data breaches have gotten more headlines, states are stepping up their regulations on breach notification. A report recently released by Perkins Coie, a legal services company, showed that four states have made significant changes to their security breach notification requirements in the past few months.
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