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NS3 Preview: Lenders welcome agents to eWorld
Posted Date: Wednesday, April 26, 2017
Most industry insiders say it’s not a matter of whether the eMortgages and eClosings will eventually become the norm – but when. Yet a survey by 2016 Fannie Mae and Freddie Mae found many industry stakeholders slow or reluctant to adopt eMortgages and eClosings.
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Montana adopts bill on tax deeds
Posted Date: Wednesday, April 26, 2017
Montana Gov. Steve Bullock signed legislation that revises title insurance requirements in tax deed laws. Read on for more details.
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New York attorney sentenced for stealing $5.7 million in escrow funds
Posted Date: Wednesday, April 26, 2017
Nassau County District Attorney Madeline Singas announced that a West Hempstead attorney was sentenced to three to nine years in prison and ordered to pay restitution for stealing more than $5.7 million from clients between September 2012 and February 2014. Read on for more details.
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Maryland adopts foreclosure of right of redemption bill
Posted Date: Wednesday, April 26, 2017
Maryland Gov. Larry Hogan recently approved a bill that establishes requirements for naming of defendants in an action to foreclose the right of redemption on property sold at a tax sale. It also establishes requirements for filing affidavits in an action to foreclose the right of redemption on property sold at a tax sale. Read on for more details.
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Property owner sues for coverage of border dispute
Posted Date: Monday, April 24, 2017
After protracted litigation with a neighboring property owner in which the title insurer did not defend it, the insured land owner filed a breach-of-contract suit against its title insurer for the insurer’s refusal to defend. Read on for more details.
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PRIA approves predictable fee background paper
Posted Date: Monday, April 24, 2017
The Board of Directors of the Property Records Industry Association authorized publication of a background paper on predictable recording fees. This is the first deliverable in a three-part project that will include a toolkit for recording jurisdictions that are considering a predictable fee structure and a legislative tracking component to follow introduction and enactment of predictable fees across the 50 states. Read on for more details.
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Nevada considers recording legislation
Posted Date: Monday, April 24, 2017
The Nevada Legislature is considering a bill that would revise provisions governing fees collected by county recorders. Read on for more details.
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Three convicted in nationwide mortgage modification scheme
Posted Date: Monday, April 24, 2017
Three co-conspirators who operated a nationwide, multi-year mortgage modification fraud that scammed hundreds of homeowners out of at least $10 million were convicted by a federal jury. Read on for more details.
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North Carolina considers technical corrections to real property statutes
Posted Date: Wednesday, April 19, 2017
The North Carolina General Assembly is considering a bill that makes technical corrections to statutes impacting real property ownership. The changes were recommended by the real property section of the North Carolina State Bar Association. Read on for more details.
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Louisiana considers recording legislation
Posted Date: Wednesday, April 19, 2017
The Louisiana Legislature is considering a bill that would amend state statutes regarding recording and recording fees. Read on for more details.
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E&O provider seeks judgment confirming denial of agent’s coverage
Posted Date: Monday, April 17, 2017
The Seventh U.S. Circuit Court of Appeals recently heard a case in which an errors and omissions insurance provider sought declaratory judgment that coverage was unavailable to its title agent insured because of two exclusions in the agent’s policy. Read on for more details.
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Texas insurance commissioner passes
Posted Date: Monday, April 17, 2017
Texas Insurance Commissioner David Mattax died on the morning of April 13 following a battle with cancer. Read on for more details.
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Arkansas title search bill now law
Posted Date: Monday, April 17, 2017
A bill clarifying that no cause of action exists for negligence by an insured against a title insurance agency or agent for lack of reasonable care in a title search is now law. Read on for more details.
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Cook County judge indicted for mortgage fraud
Posted Date: Monday, April 17, 2017
A Cook County, Ill., judge has been indicted by a federal grand jury for fraudulently obtaining loans related to the purchase, maintenance and sale of properties on Chicago’s South Side when she was a special assistant attorney general for the Illinois Department of Revenue. Read on to learn more.
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Leasers file suit against title insurer
Posted Date: Monday, April 17, 2017
A couple who leased property in Glenn Dale, Md., filed suit against the owner’s title insurer after discovering that when the owner purchased the property, it was mistakenly conveyed to a third party. Read on for more details.
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