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Experts share tips to help comply with complaint management
Posted Date: Wednesday, October 7, 2015
During a recent October Research, LLC, webinar, Jonathan Cannon, counsel, BuckleySandler LLP said complaints can be like the canary in the coal mine, signaling a warning that something is wrong, or will be wrong. A consumer might file a complaint before filing a lawsuit. If a consumer complains about you to a regulator, it will raise your profile with that regulator, perhaps leading to an examination or even an enforcement action. It may be the signal that there is a systematic issue that needs to be addressed. Cannon and Chris Black, attorney and owner, Winged Foot Title LLC, shared tips on how to find, interpret, address and document complaints to not only maintain your compliance and customer satisfaction, but improve your processes and procedures.
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Buyer alleges realty company, title company steered business
Posted Date: Monday, September 21, 2015
The buyer of property in Alabama alleged that the real estate company steered business to its affiliated title company, profiting their parent company in violation of RESPA Section 8(a) and 8(c). Read on to find out what the U.S. District Court for the Northern District of Alabama had to say when the defendants moved to dismiss the case.
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Supreme Court of Utah reverses decision on underwriter liability
Posted Date: Wednesday, July 22, 2015
The Supreme Court of Utah reversed a district court’s decision regarding an underwriter’s liability for the actions of its title agent, interpreting an “opaque” section of state title insurance law. Read on for more details.
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First American’s Hepburn home dispute goes before appellate court
Posted Date: Tuesday, July 21, 2015
First American Title Insurance Co. appealed a $2.2-million jury verdict against it. The case involved the former beachfront summer home of Katherine Hepburn. Read on to see whether the Connecticut appellate court found reason to rule for the title insurer.
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Court dismisses some motions in class-action reissue rate case
Posted Date: Monday, July 13, 2015
A Pennsylvania federal court recently issued rulings affecting a class-action lawsuit filed by a plaintiff who alleged that her title insurer, Old Republic National Title Insurance Co., and its agent, Citizens Abstract, overcharged her for title insurance when she refinanced her mortgage loan. Find out which party prevailed on its motions to dismiss.
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House schedules vote on hold-harmless bill
Posted Date: Thursday, October 1, 2015
A bill that would require the Consumer Financial Protection Bureau to restrain enforcement of the new TILA-RESPA Integrated Disclosure (TRID) rules will come to a vote on the House floor next week. Read on for the details.
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Florida looks to change estoppel certificate requirements
Posted Date: Monday, September 21, 2015
The Florida House of Representatives is considering a bill that would change requirements surrounding estoppel certificates issued by homeowners’ associations. Read on to find out more about the changes.
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NAIC releases consumer alert on title insurance
Posted Date: Monday, September 21, 2015
The National Association of Insurance Commissioners has issued a new consumer alert providing education on title insurance and how it protects consumers’ homes. Read on for more details.
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Federal Insurance Office releases annual report
Posted Date: Wednesday, September 30, 2015
The Federal Insurance Office submitted its annual report to Congress on the state of the insurance industry. Read on to find out what it had to say about the title insurance industry.
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Fraudulent spiritual organization orchestrates mortgage-elimination program
Posted Date: Wednesday, September 30, 2015
Seven California residents were indicted for pursuading homeowners to enter into a mortgage elimination program run by the spiritual organization. Once the homeowners enrolled in the program, the fraudsters altered the chain of title and sold the homes for profit. Read on for more details.
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Title agent uses fight and humor to survive cancer
Posted Date: Thursday, October 15, 2015
For the fourth year, October Research, LLC, sets aside two weeks to support the Stefanie Spielman Fund for Breast Cancer Research during Breast Cancer Awareness Month. The disease has affected many in the settlement services, financial and real estate industries, and we bring you one such story from cancer survivor Michelle Kynkor of Gateway Title. Read on for her story.
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CFPB clarifies TRID examination policy
Posted Date: Monday, October 5, 2015
A day after the House announced it would vote on a bill to establish a safe harbor for TILA-RESPA Integrated Disclosure enforcement, and two days before the rule went into effect, the Consumer Financial Protection Bureau and other members of the FFIEC wrote letters to industry trade groups explaining their plans for TRID examinations in the initial months after implementation. Read on for more details.
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Eleventh Circuit befuddled by attorney-agent, title insurer relationship
Posted Date: Monday, October 5, 2015
After the Alabama Supreme Court refused to answer a question of first impression regarding whether an attorney-agent provided “legal services,” the 11th U.S. Circuit Court of Appeals found it could not determine whether the parties’ relationship was that of an attorney/client or a principal/agent. Read on for more details.
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Court: Sanctions appropriate for company that threatened to cloud title, halt foreclosure
Posted Date: Wednesday, September 30, 2015
An investment company with a history of buying properties and delaying foreclosures for its own benefit appealed the award of sanctions to the bank that had the first lien on a property. The bank had sought to dismiss the case the investment company brought against it for violations of Texas state law. Read on to find out why the 5th U.S. Circuit Court affirmed the award of sanctions to the bank.
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Title issues cloud loan modification, foreclosure suit
Posted Date: Thursday, September 24, 2015
After falling behind on their mortgage payments, a Minnesota couple attempted to modify their mortgage. They successfully went through a trial modification period, but a permanent modification was halted after the bank discovered tax liens on the property. While attempting to subordinate the tax liens and/or secure title insurance, modification agreements continued to derail and the homeowners filed suit. Read on for more details.
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Fraudster sentenced for role in $13.6 M mortgage fraud scheme
Posted Date: Thursday, September 24, 2015
A fraudster was sentenced for his role in a $13.6 million condo conversion scheme, failing to disclose to the condominium project lender and the purchasers’ mortgage lenders material facts about the financing of the condominium sale. Read on for more details.
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Title claim leads to determination of who awards attorney fees
Posted Date: Thursday, September 24, 2015
A landowner filed a complaint alleging its title insurer breached the title insurance policy, acted in bad faith. The landowner demanded a jury trial on all counts. After a jury found that the insurer had breached the policy in bad faith and awarded attorney fees, the Circuit Court of Fairfax County, Va., vacated the attorney fee award and concluded the insurer had not acted in bad faith. The landowner appealed and the Supreme Court of Virginia heard the case to address whether a jury or judge could determine whether an insurer committed a bad faith breach of an insurance contract warranting an award of attorney’s fees to the insured.
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Two indicted for short sale fraud
Posted Date: Thursday, September 24, 2015
The Nevada Attorney General announced the indictment of two fraudsters on charges of mortgage fraud and racketeering. They are alleged to have convinced customers to participate in a short sale program, falsely assuring them that they would have the opportunity to repurchase their home and remain there in the meantime.
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