News By Edition

The California Department of Financial Protection and Innovation (CDFPI) has proposed PRO 03-21-Califorina Consumer Protection Law (CCFPL) Complaints and Inquiries regulation to establish reasonable procedures for covered persons to provide a timely response to the department concerning consumer complaints and inquiries. The comment period for the proposed regulation ends July 5, 2022.

West Virginia amended existing rules regarding electronic notarization to provide for remote online notarizations of electronic documents and remote ink notarizations of paper documents, including a definition of both.

A Kansas couple filed an adverse possession claim against the new owner of a strip of land that had been enclosed and maintained by the couple as part of their backyard for many years. After a state trial court found the couple failed to prove their claim, the couple appealed.

When assisting in the sale of their property, a title agent believed it had paid off both the first mortgage from a bank and the second mortgage from the U.S. Department of Housing and Urban Development. It was later discovered the HUD mortgage had not been paid off and the title insurer paid it and asserted a claim against the agent. The sellers petitioned for Chapter 13 bankruptcy relief and the agent filed an adversary claim against them.

The Consumer Financial Protection Bureau (CFPB) published the Beginner’s Guide to Accessing and Using Home Mortgage Disclosure Act (HMDA) Data, to support stakeholders in accessing and using HMDA information.

A former self-proclaimed Salem, Mass., real estate developer has been convicted by a federal jury in Boston in connection with a 10-year mortgage fraud scheme involving at least two dozen fraudulent loan transactions totaling $6.5 million and resulting in more than $3.8 million in losses to lenders.

Neighbors disputed the use and location of an easement running through one of their properties. After one filed suit, the other couple sought coverage under their title policy. The title insurer denied coverage and the insured brought a third-party complaint against the title insurer.

Georgia Gov. Brian Kemp signed legislation revising the provisions regarding the recording of deeds and related instruments. This includes providing for electronic filing and requiring certain information be on the first page of security deeds.

The Missouri General Assembly passed legislation to change the laws regarding restrictive covenants by expanding the definition of prohibited covenants and establishing a procedure to remove prohibited covenants from deeds. The bill awaits the governor’s signature.

The West Virginia Real Property Electronic Standards Advisory Committee promulgated a rule establishing real property electronic recording standards and practices for West Virginia county clerks that are harmonious with the standards and practices of recording offices in other jurisdictions that enact the Uniform Real Property Electronic Recording Act.

The Financial Crimes Enforcement Network (FinCEN) issued an advance notice of proposed rulemaking to solicit public comment on questions relating to the implementation of a no-action letter process at FinCEN.

A man formerly of Richmond County, Ga., was sentenced to federal prison for bank and bankruptcy fraud related to his purchase of an Augusta, Ga., apartment complex.

Deed holders, who had acquired property from grantors after exercising an option to purchase in a lease agreement, filed suit to quiet title after discovering the heir of the individual who had shared property with the grantors filed a deed claiming an interest in the property. The heir counterclaimed for fraud and asserted a claim against the Montana Department of Revenue. The case eventually went before the Supreme Court of Montana.

U.S. Sen. Roger Wicker, R-Miss., ranking member of the Senate Committee on Commerce, Science, and Transportation, and U.S. Representatives Frank Pallone, Jr., D-N.J., and Cathy McMorris Rodgers, R-Wash., chairman and ranking member of the House Committee on Energy and Commerce, released a discussion draft of a comprehensive national data privacy and data security framework. The draft legislation is the first comprehensive privacy proposal to gain bipartisan, bicameral support.

Louisiana Gov. John Bel Edwards signed legislation stipulating qualifications for title insurance producers. The bill takes effect Aug. 1.

The Maryland General Assembly adopted legislation authorizing title insurance producers to pay compensation for the provision of real estate brokerage services to associate real estate brokers, real estate salespersons, or certain business entities on behalf of a real estate broker under certain circumstances. The bill goes into effect Oct. 1, 2022.

After paying out a claim regarding easements on its insured’s property, a title insurer, as subrogee, sued the seller of the property for breach of warranty of title. The insurer and seller dispute the insurer’s right to sue because of steps the seller took to address the issue with the insured.

A Baltimore business owner pleaded guilty to conspiracy to commit wire fraud.

After a title insurer filed suit against an abstract company, alleging the abstract company’s closing agent misappropriated real estate funds, the abstract company filed a claim with its errors and omissions insurance provider. When the provider warned that provisions of its policy precluded coverage, the abstract company filed suit.

Several industry associations, including the American Land Title Association, American Escrow Association, Mortgage Bankers Association and the National Association of Realtors, wrote a letter to Congress urging the passage of H.R. 3962, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act).

The Colorado General Assembly passed legislation concerning protections for election officials. Among other things, the bill would prohibit anyone from making the personal information of an election official or their immediate family publicly available on the internet and allow election workers to file a request to remove their personal information from the records made available on the internet. The bill awaits the governor’s signature.

The New Mexico Office of the Superintendent of Insurance issued Bulletin 2022-009, advising applicants for insurance producer licenses of the residency requirements for obtaining a resident license in New Mexico.

The Louisiana Legislature has passed legislation regarding the disclosure of personal information of certain persons. The bill awaits the governor’s signature.

A loan officer was charged with four counts of bank fraud and four counts of aggravated identity theft.