|
Pennsylvania auditor seeks accounting for county recorder
Posted Date: Monday, May 13, 2019
Pennsylvania Auditor General Eugene DePasquale said that the York County Recorder of Deeds office could not explain the account balance of more than $2.14 million held in an escrow fund. Read on for more details.
|
|
|
Fund Assembly coverage begins today
Posted Date: Wednesday, May 8, 2019
Real estate attorneys from across Florida are coming to Orlando today for three days of insight and education on the latest in state legislative changes, technology, fraud protection and more at Fund Assembly 2019, put on by Attorneys’ Title Fund Services LLC. Read on for a preview.
|
|
|
Pennsylvania Supreme Court: Conveyance recordings not required
Posted Date: Wednesday, May 8, 2019
In a 3-1 ruling, the Pennsylvania Supreme Court agreed with MERSCORP and the Third Circuit in ruling that the state’s conveyance statute does not require that all conveyances must be recorded. Read on for a history of the case and the court’s reasoning.
|
|
|
Dissent: Ruling may create unmarketable title
Posted Date: Wednesday, May 8, 2019
Though the Pennsylvania Supreme Court recently held that the state’s conveyance statute does not require that all conveyances be recorded, one of the four justices that ruled on the case had strong opinions to the contrary. Read on for insight from the judge’s lengthy dissent.
|
|
|
NS3 Preview: Biggest names take the stage in Phoenix
Posted Date: Wednesday, May 8, 2019
The biggest names in the industry gather June 18-20 at the National Settlement Services Summit (NS3) in Phoenix, with attendees getting to hear from top underwriters and lenders on stage.
Headlined by keynote speakers Brian Montgomery from the Department of Housing and Urban Development and Chris George from CMG Financial and the Mortgage Bankers Association, attendees will hear from panels featuring seven of the top national underwriters in the country, industry titans from the title and lending world sitting down for a fireside chat, and state and federal regulators discussing consumer protection.
Read on for more details about the top speakers headed to NS3.
|
|
|
Escrow agent agreement legislation becomes Maryland law
Posted Date: Wednesday, May 8, 2019
Maryland Gov. Larry Hogan signed legislation requiring an escrow agent to enter into a written agreement with the purchaser and seller of residential real estate when the agent agrees to hold trust money in escrow for the transaction. Read on for more details.
|
|
|
FDIC seeks damages prior to new trial against title insurer
Posted Date: Wednesday, May 8, 2019
As it awaits a new trial on three counts against a title insurer regarding four underlying fraudulent transactions, the Federal Deposit Insurance Corp. asked the U.S. District Court for the Northern District of Illinois for an order directing entry of a final judgment on one of the counts, for breach of contract. Read on for more details.
|
|
|
Owners’ claims barred by statute of limitations
Posted Date: Tuesday, April 30, 2019
The owners of property that was short-sold and reacquired filed a claim on a lender policy allegedly showing no liens on the property. The bank and title companies to the policy argued the owners’ claim was barred by the statute of limitations because they had constructive notice of the second lien prior to the short sale, even though they claimed not to have title to the property or actual knowledge of the second lien until they went to sell the property. Read on for the court’s decision.
|
|
|
NS3 Preview: Practical considerations for strategic alliances
Posted Date: Tuesday, April 30, 2019
Affiliated business arrangements (AfBAs), marketing and services agreements (MSA), desk rentals, Internet co-advertising and lead generation agreements are on the rise.
But the legal requirements for creating these arrangements are only the beginning.
Attorneys Phil Schulman and Holly Spencer Bunting will be speaking at the National Settlement Services Summit (NS3) this summer in Phoenix on “Practical Considerations for Title Agents Creating Strategic Alliances.” Read on for a session preview.
|
|
|
ALTA announces new CEO
Posted Date: Tuesday, April 30, 2019
The American Land Title Association announced it has named a new CEO who will start July 1. Read on for more about the new hire.
|
|
|
New York DFS announces new division
Posted Date: Tuesday, April 30, 2019
Acting New York Department of Financial Services Superintendent Linda Lacewell announced the appointment of an executive deputy superintendent of the department’s newly created Consumer Protection and Financial Enforcement Division. Read on for more details.
|
|
|
Connecticut may require disclosure of dams before sale
Posted Date: Tuesday, April 30, 2019
The Connecticut General Assembly is considering a bill that would require the disclosure of dams and similar structures by owners of real property prior to sale. Read on for more details.
|
|
|
Defect risk stabilizes, according to latest index
Posted Date: Tuesday, April 30, 2019
While the sellers’ market conditions increased fraud risk, the rising share of lower-risk refinance transactions reduced fraud risk, according to First American’s Loan Application Defect Index for March. Read on for more details.
|
|
|
Fourth Circuit rules in Genuine Title appeal
Posted Date: Monday, April 29, 2019
The Fourth U.S. Circuit Court of Appeals heard the cases of five plaintiffs who alleged that lenders participated in kickback schemes with Genuine Title between 2009 and 2014. The district court had dismissed the claims, however, because the first of the five class actions was not filed until after the expiration of RESPA’s one-year statute of limitations. Read on for more details.
|
|
|
NS3 Preview: Separating fact from fiction with eClosings
Posted Date: Monday, April 29, 2019
There is plenty of inaccurate information circulating about eClosings, which could make many professionals understandably tentative to take the leap in the all-digital marketplace.
Fortunately for attendees at the 2019 National Settlement Services Summit (NS3) June 18-20, Equity National Title President and attorney James K. O’Donnell will be bringing his ground-level experience doing all manner of eClosings to the stage during the NS3 session “eClosing: Just do it” at the Arizona Biltmore Resort in Phoenix. O’Donnell will be joined by Shane Hartzler, director – eMortgage strategy and operations for Fannie Mae, in the presentation.
|
|
|
Texas House amends title insurance rate bill
Posted Date: Monday, April 29, 2019
The Texas House has amended legislation relating to title insurance rate hearings and other matters relating to regulating the business of title insurance. Read on for more details.
|
|
|
Title agent seeks indemnity from original purchaser
Posted Date: Monday, April 29, 2019
After its underwriter filed suit against it for breach of contract concerning the underwriter’s commitment to insure the conveyance of property after it was revealed that the conveyance was fraudulent, a title agent brought third-party claims against many, including the original party to the purchase agreement, which had transferred its right to purchase to another party. Read on for more details.
|
|
|
|