News By Edition

After being the victim of payoff fraud, a title company sought coverage under its cyber protection insurance policy. Its insurance company denied coverage, arguing that the title company failed to meet the requirements under the policy. The case eventually went before the 11th U.S. Circuit Court of Appeals.

The entity that began foreclosure proceedings on property in Flushing, N.Y. sought to amend the complaint to substitute a cause of action to recover on the promissory note in lieu of the cause of action to foreclose the mortgage. The case eventually went before a New York state appellate court.

The U.S. Government Accountability Office (GAO) issued a report summarizing the Office of the National Cyber Director’s initial efforts since the office was established in 2021.

The Federal Housing Finance Agency announced it will conduct a comprehensive review of the Federal Home Loan Bank System beginning in the fall of 2022.

Maryland Insurance Commissioner Kathleen Birrane named a new associate deputy commissioner and new associate commissioner for financial regulation.

BMI Imaging Systems announced it contracted with the Monterey County, Calif., Recorder’s Office to help implement the county’s AB 1466 Restrictive Covenant Modification Program.

An estate administrator filed suit, seeking to return title of Philadelphia property to the estate. He alleged that one of the defendants forged a deed supposedly executed by the deceased to convey the property that ultimately was held by another after a sheriff’s sale and mortgage.

The Utah Insurance Department has filed a change to a proposed rule, as well as refiled a repeal of another existing rule. Comments will be accepted until Oct. 17, 2022, with the earliest possible effective date being Oct. 24, 2022.

A federal judge in Nevada lifted a stay in one of almost 200 cases in which a national lender sued a title insurer for breach of a title policy, arguing the policy covers the lender for claimed losses stemming from HOA assessment lien foreclosures in violation of Nevada contract law.

Maryland Insurance Commissioner Kathleen Birrane promoted Kory Boone to special deputy commissioner—regulatory innovation and technology for the Maryland Insurance Administration.

The former president of sales and part-owner of a Garden City, N.Y.-based mortgage lender was sentenced for diverting more than $8.9 million of warehouse loans the lender fraudulently obtained purportedly to fund home mortgages and home refinancing.

The Middlesex County, N.J., Clerk’s office is offering a free property alert service to protect against property fraud.

A California appellate court recently heard a consolidated appeal of two class action lawsuits against a title insurer. The plaintiffs in each case obtained owner’s and lender’s title insurance policies and allege they were overcharged for their title insurance policies.

After the purchaser of property agreed to assign its claims to the deceased seller’s daughter in exchange for her conveying her interest in the property, the daughter sued the title insurer, alleging it breached its title policy.

The U.S. Government Accountability Office (GAO) issued recommendations regarding the use of Bank Secrecy Act (BSA) reports by law enforcement and subsequent feedback to the financial institutions that provide the reports.

The Indiana Department of Insurance shared tips to manage cybersecurity risks, including identity theft.

A former Massachusetts attorney and his wife have been sentenced in federal court in Boston in connection with various mortgage fraud schemes.

A federal grand jury indicted a mortgage loan officer and two real estate agents. They were charged with bank fraud and conspiracy to commit bank fraud.