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Kentucky looks to license title agents
Posted Date: Monday, February 22, 2016
The Kentucky General Assembly is considering a bill that would require lay title agents in Kentucky to be licensed by the state’s department of insurance.
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Former executive charged with escrow fraud
Posted Date: Tuesday, February 23, 2016
A federal indictment unsealed charges Nathan E. Hardwick IV and Asha R. Maurya with conspiracy, wire fraud, and related crimes in connection with Hardwick’s alleged theft of more than $20 million from the attorney escrow accounts and operating accounts of Morris Hardwick Schneider and LandCastle Title, an Atlanta-based law firm and title agency in which Hardwick and Maurya once served as top executives.
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Does collateral estoppel bar quiet title action?
Posted Date: Wednesday, February 17, 2016
After buying property that was foreclosed upon by a homeowners association, the new owners discovered the property was encumbered by a mortgage. The holder of the mortgage foreclosed the mortgage and sold the property. When the first buyers filed suit to quiet title, the trial court held that collateral estoppel barred the action. The first buyers then appealed.
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Assignee, borrower dispute standing to foreclose
Posted Date: Monday, February 22, 2016
A couple appealed the final summary judgment of foreclosure entered against them and for the assignee of their mortgage, arguing that the assignee failed to show that it had standing to foreclose and failed to refute their affirmative defenses in the case. Read on to find out how the Second District Court of Appeal of Florida ruled when the case went before it.
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Owner, title agency sue bank for unpaid taxes
Posted Date: Monday, February 22, 2016
After a court-approved sale of property in receivership, the new owner and title company realized that they missed $80,000 in taxes that was to be paid by the sales proceeds. They filed a motion to order the mortgagee to pay the unpaid taxes, as per the sales agreement. The case eventually went before the Rhode Island Supreme Court.
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CFPB takes first data security action
Posted Date: Wednesday, March 2, 2016
The Consumer Financial Protection Bureau took its first data security related action, against an online payment platform, for deceiving consumers about its data security practices. The company has been ordered to pay a $100,000 penalty and fix its security practices. Read on for more details.
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California considers recording amendments
Posted Date: Wednesday, March 2, 2016
The California Legislature is considering a bill that would amend the state’s Electronic Recording Delivery Act of 2004, allowing, among other things, a county recorder to enter into a contract with an authorized submitter. Read on for more details.
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Rhode Island considers conveyance statute amendments
Posted Date: Wednesday, February 24, 2016
The Rhode Island General Assembly is considering a bill that would require all transfers of ownership or interest in a promissory note secured by a mortgage to be accompanied by an assignment of the mortgage. Read on for more details.
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Kentucky may revise lien release statute
Posted Date: Monday, February 29, 2016
The General Assembly of Kentucky is considering a bill that would allow attorneys to release liens on property under certain conditions. Read on for more details.
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Maryland considers expedited foreclosures
Posted Date: Wednesday, March 2, 2016
The Maryland General Assembly is considering a bill that would establish an expedited foreclosure process for vacant and abandoned property. Read on for more details.
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California AG releases latest data breach report
Posted Date: Wednesday, February 24, 2016
California Attorney General Kamala D. Harris released a comprehensive report detailing the nature of data breaches reported to her office over the past four years. Read on for the report’s findings.
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Former attorney sentenced for short sale fraud
Posted Date: Wednesday, March 2, 2016
A former FDIC attorney was sentenced to time in prison for defrauding a national bank in connection with the sham short sale of her home to her live-in boyfriend. She also was ordered to pay restitution and forfeit the proceeds of her offense. Read on for more details.
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Florida DFS hosts inducement workshop
Posted Date: Wednesday, February 24, 2016
A rule development workshop will be held in April by the Florida Department of Financial Services. The workshop will be about the department’s unlawful inducement rule related to title insurance transactions, currently under proposal. Read on for details of when and where the workshop will be conducted.
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Title Association increases policy guaranty fee
Posted Date: Monday, February 29, 2016
The Texas Title Insurance Guaranty Association voted to re-institute a policy guarantee fee for each owner’s and each loan title policy. Read on for more details.
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Nevada gets new insurance commissioner
Posted Date: Monday, February 29, 2016
Nevada Department of Business and Industry Director Bruce Breslow announced that Barbara Richardson has been appointed as commissioner of the Nevada Division of Insurance. Richardson will join the division in March.
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Rhode Island considers statute amendments
Posted Date: Wednesday, March 2, 2016
The Rhode Island General Assembly is considering a bill that would amend provisions of the state’s mortgage transfer law to restrict the recording of mortgages in anyone’s name other than the holder of the note secured by the mortgage. Read on for more details.
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Virginia considers disaster plans for land records
Posted Date: Monday, March 14, 2016
Unfortunately, things happen that are beyond our control, usually when we least expect it. This happens on an individual basis, but also on a community level. To protect our communities, including the community’s land records, we need a disaster relief plan.
The Virginia General Assembly is considering a bill that would require each clerk of circuit court to maintain a disaster plan to recover land records.
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Kentucky looks to license title agents
Posted Date: Monday, March 14, 2016
The Kentucky General Assembly is considering a bill that would require title agents in Kentucky to be licensed by the state’s department of insurance. As the last state to require title agent licensing, the Kentucky Land Title Association and its membership worked with stakeholders to help draft a bill that will be able to address the state’s needs and allow the industry and Kentucky Department of Insurance the flexibility to adopt regulations to handle the state’s unique makeup.
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Foreclosure prevention fraudsters indicted
Posted Date: Wednesday, February 24, 2016
A married couple and their co-conspirator were indicted for their alleged roles in a foreclosure prevention scheme. Read on for more details.
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Three sentenced for conspiracy, wire fraud
Posted Date: Monday, February 22, 2016
Three Indiana property investors were sentenced for their roles in a mortgage fraud conspiracy. They convinced others to buy homes in Gary, Ind., as investment property, lying to lenders and title companies about the details of the deals. Read on for more details.
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Virginia considers disaster plans for land records
Posted Date: Monday, February 22, 2016
The Virginia General Assembly is considering a bill that would require each clerk of circuit court to maintain a disaster plan to recover land records. Read on for more details.
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