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What can you do about indemnity clauses?
Posted Date: Monday, February 29, 2016
The TILA-RESPA Integrated Disclosure Rule brought with it an incredible amount of change to the entire real estate industry. With that change came increased liability for lenders and secondary market participants. To protect themselves, some lenders have included indemnity clauses in their closing instructions. What can agents do about those? Read on for the details.
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President unveils cybersecurity plan
Posted Date: Wednesday, February 10, 2016
President Barack Obama on Feb. 9 directed his administration to implement a Cybersecurity National Action plan to put in place a long-term strategy to enhance cybersecurity awareness and protections, protect privacy, maintain public safety as well as economic security, and empower Americans to take better control of their digital security. Read on for details from the plan.
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Did title insurer unreasonably delay paying claim?
Posted Date: Monday, February 15, 2016
Did a title insurer unreasonably delay paying a claim for its insured? That is the question the Supreme Court of Hawaii decided in a case where the insured argues the insurer should not have let litigation regarding a bogus mortgage agreement continue after realizing a party to the transaction’s signature had been forged. Read on for the court’s determination.
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Standing to foreclose without note questioned
Posted Date: Wednesday, February 17, 2016
On appeal, the Fourth District Court of Appeal of Florida had to determine whether there was sufficient evidence of a substitute mortgagee’s standing to support a final judgment of foreclosure. Read on for their decision.
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Leadership movements at NAIC
Posted Date: Monday, February 15, 2016
During a Plenary meeting of the National Association of Insurance Commissioners, members elected a new president-elect, vice president and secretary-treasurer after the resignation of Kentucky Insurance Commissioner Sharon Clark left a vacancy on the board. Read on for more details.
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Alabama may revise definition of title agent
Posted Date: Monday, February 15, 2016
The Alabama Legislature is considering a bill that would revise the definition of title agent, exempting certain persons from licensing requirements. Read on for more details.
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California looks to amend foreclosure notice
Posted Date: Wednesday, February 17, 2016
The California General Assembly is considering a bill that would amend certain foreclosure notice requirements, including those to the homeowner and to potential bidders at foreclosure sale. Read on for more details.
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Maryland may amend rules regarding quiet title
Posted Date: Monday, February 15, 2016
The Maryland General Assembly is considering a bill that would amend the rules and procedures regarding actions to quiet title. Read on for more details.
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Florida DFS clarifies unlawful rule on estoppel
Posted Date: Monday, February 15, 2016
In the days before and after its rule on unlawful inducements related to the title insurance industry was implemented, the Florida Department of Financial Services issued letters clarifying its position on specific issues, including the payment of estoppel certificates. Read on to find out more.
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Preliminary settlement reached in lawsuit
Posted Date: Wednesday, February 10, 2016
A title company and national bank have reached a preliminary settlement agreement with homeowners who filed a class action lawsuit alleging the now-defunct title company took illegal kickbacks as part of a marketing scheme. The parties previously were involved in an enforcement action by the Consumer Financial Protection Bureau and the Maryland Attorney General. Read on for more details.
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Arizona gets new insurance director
Posted Date: Wednesday, February 10, 2016
After having the director of insurance serve dual role as interim superintendent of the Department of Financial Services, Arizona Gov. Doug Ducey has appointed a new interim director of insurance. Read on for more details.
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Lawsuit won against deed scamming company
Posted Date: Wednesday, February 17, 2016
Washington Attorney General Bob Ferguson prevailed in his lawsuit against a California company that was found to have scammed new property owners into buying overpriced deeds. Read on for more details.
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Owner of liquidated title company arrested
Posted Date: Monday, February 15, 2016
A week after the Texas Department of Insurance was ordered to liquidate her title agency, the owner of Millennium Title reportedly has been found and arrested. Read on for more details.
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Chicago real estate lawyer admits lying about development financing
Posted Date: Wednesday, February 10, 2016
The vice president of a Chicago real estate firm pleaded guilty to lying to a bank about a public financing note that was issued for the redevelopment of a former Goldblatt’s Department Store in the city’s Uptown neighborhood. Read on for more details.
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TRID procedural, relational issues remain for settlement industry
Posted Date: Wednesday, February 17, 2016
Piecing through the TILA-RESPA Integrated Disclosure (TRID) regulations continues in 2016, and title and settlement services compliance managers and attorneys don’t expect the trend to stop any time soon. Read on to see what Prairie Title’s Frank Pellegrini, Knight Barry’s Cheri Hipenbecker, the Escrow Institute of California’s Nancy Silberberg and others had to say about the path forward in 2016.
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ATG LegalServe, It’s Your Serve form litigation support company
Posted Date: Wednesday, February 17, 2016
ATG LegalServe, Inc., a subsidiary of Attorneys’ Title Guaranty Fund, Inc., and It’s Your Serve, Inc. (IYS) have combined to create a single, full-service litigation support company offering services to lawyers and law firms throughout Chicago and beyond. Read on for more details.
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Colorado looks to create electronic recording technology board
Posted Date: Wednesday, February 10, 2016
The Colorado General Assembly is considering a bill to create an electronic recording technology board, whose goal would be to maintain the privacy of personal identifying information and develop best practices for electronic filing systems, among other things. Read on for more details.
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