News By Edition

The plaintiffs in a kickback class action have moved for preliminary approval of a class action settlement of all claims asserted against a bank that allegedly engaged in an illegal kickback scheme with All Star Title. A hearing on the motion has been scheduled for Oct. 12.

After signing a contract to sell property and depositing money with a title agency, a buyer filed suit against the sellers and title agency, alleging the sellers refused to sell the property and failed to provide the title commitment required by the sales contract.

The American Land Title Association (ALTA) wrote to Federal Housing Finance Agency (FHFA) Director Sandra Thompson, providing a coverage comparison between attorney opinion letters and standard title insurance policies, cautioning of the areas where attorney opinion letters provide less protection than title insurance.

The owner of property in Queens, N.Y., sued the mortgagee of her reverse mortgage for harm she suffered in connection with the foreclosure of her home.

A bill establishing a First Look program for foreclosed properties in California has been sent to Gov. Gavin Newsom for his approval. Under the program, individuals, nonprofits and public entities would have thirty days to make offers on post-foreclosure properties that are put up for sale by large lending institutions.

A federal jury in Houston has convicted a 61 year-old Dallas man for money laundering, conspiracy to commit and committing wire fraud.

The Utah Insurance Department issued Bulletin 2022-5 regarding appointments and designations.

An insured filed suit against its title insurer, alleging the insurer breached title insurance policies when it refused to pay the full coverage limits on the policies for two tax-adjudicated properties it purchased at auction. It had the properties appraised to receive coverage for the full appraised value as opposed to the purchase price and later discovered title issues.

After an HOA foreclosed on property for failure to pay monthly assessments, the mortgage holder filed a claim with its title insurer, which the title insurer denied. The mortgage holder then filed suit for declaratory judgment, breach of contract, bad faith/breach of the covenant of good faith and fair dealing and violations of the Deceptive Trade Practices Act.

A federal court unsealed a joint complaint by the California Department of Financial Protection and Innovation and the Federal Trade Commission against a recidivist mortgage assistance relief scam.

The Texas Department of Insurance (TDI) issued its mandatory data call for title insurance companies and title insurance agents working in the state for calendar year 2021.

A California rapper and two co-conspirators were sentenced to time in prison for their role in a loan fraud and identity theft conspiracy.

A former employee/business partner filed suit against a resident agent and a title company for allegedly continuing the resident agent’s partnership with the employee/business partner without his participation or consent.

After one mortgagee filed foreclosure proceedings and the property owner filed for Chapter 7 bankruptcy, the lender and the property owner’s initial mortgagee argued about the priority of their liens because the property owner received a home equity line of credit from the initial mortgagee after getting a loan from the other lender.

The Maryland Insurance Administration issued Bulletin 22-12 Re: Chapter 650 of the Laws of 2022 to remind title producers of prohibited practices considering a new law that takes effect Oct. 1, 2022.

Virginia Gov. Glenn Youngkin signed legislation that requires the owners of residential property include in the residential property disclosure statement to potential purchasers a statement that the owner makes no representation regarding the current lot lines or the ability to expand, improve or add any structure on the property.

CoreLogic released its latest Mortgage Fraud Report, showing a 7.5 percent year-over-year decrease in fraud risk at the end of the second quarter 2022, as measured by the CoreLogic Mortgage Application Fraud Risk Index.

A Largo, Fla., man was charged with four counts of bank fraud and three counts of aggravated identity theft. Read on for more details.

A homeowner sued his title insurer, claiming the insurer violated the Connecticut Unfair Insurance Practices Act (CUIPA) and the Connecticut Unfair Trade Practices Act (CUPTA). The case eventually went before the Appellate Court of Connecticut.

The potential buyer of 60 acres of land sued a title insurer for negligence and negligent misrepresentation after the title insurer and its agent conducted the sale of the 60 acres from the sellers to another party.

The Mortgage Bankers Association (MBA) and California Mortgage Bankers Association provided comments on the California Privacy Protection Agency’s proposed regulations under the California Privacy Rights Act.

The Texas Department of Insurance announced the creation of a new External Relations division and a new deputy commissioner to lead it.

Indiana Attorney General Todd Rokita warned residents to proceed with caution when using cyptocurrency in any transaction involving the sale or lease of real estate.

Westchester County, N.Y., District Attorney Miriam Rocah announced the sentencing of a Briarcliff Manor, N.Y., real estate attorney to state prison for stealing $3.7 million from eight clients.