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The requirements and benefits of a good CMS
Posted Date: Wednesday, November 13, 2019
The benefits of technology are endless. Information is at your fingertips and you can easily get the answers and analysis you need. That also means lenders are expecting you to utilize technology to aid in your compliance efforts, and their potential oversight efforts. This is why it’s important to have a good compliance management system (CMS).
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MBA releases information security basics whitepaper
Posted Date: Monday, October 28, 2019
The Mortgage Bankers Association (MBA) released a new whitepaper, The Basic Components of an Information Security Program, which gives an overview of current information security risks that affect the mortgage industry, as well as explanations of basic components of an information security program intended to help manage those risks. Read on for more details.
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MISMO issues new closing instruction templates
Posted Date: Wednesday, October 30, 2019
MISMO has issued new templates for closing instructions, focused on the format and organization of the closing instructions. Read on for more details.
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Maryland issues bulletin on inducements
Posted Date: Monday, October 28, 2019
The Maryland Insurance Administration issued a bulletin to alert all insurers and producers of changes made by the General Assembly in 2018 to Sections 27-209 and 27-212 of the Insurance Article, Annotated Code of Maryland and remind regulated entities of prohibited practices concerning inducements, premium rebates or other forms of valuable consideration not specified in an insurance or annuity contract. Read on for more details.
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Colorado launches digital ID
Posted Date: Wednesday, November 6, 2019
Colorado Gov. Jared Polis announced the launch of the Colorado Digital ID, as well as an executive order stating that the Colorado Digital ID will be authorized and may be accepted as a legal form of personal identification for use in Colorado. Read on for more details.
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Does alleged missed title search violate RESPA?
Posted Date: Wednesday, October 30, 2019
In a suit transferred to federal court in Alabama, a property owner sued its title agency for, among other things, violating RESPA by not performing title search services he paid for, or performing the services negligently. Read on for more details.
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Lien priority challenge leads to reformation
Posted Date: Wednesday, November 6, 2019
An assignee whose mortgage was in third position on property in Scottsdale, Ariz., filed suit against the title insurer, claiming the title insurer breached the policy by declining to remove the prior mortgages or paying the policy limits. The title insurer counterclaimed to reform the policy. Read on for more details.
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ALTA alerts members of spoofed email
Posted Date: Wednesday, November 6, 2019
The American Land Title Association on Nov. 5 alerted members to delete a phishing email with the subject line “American Land Title Association” that appears to come from the association’s membership and licensing manager. Read on for more details.
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First American Defect Index shows multi-year low mortgage fraud risk
Posted Date: Wednesday, November 6, 2019
The First American Loan Application Defect index reveals that mortgage fraud risk is at a multi-year low. First American Chief Economist Mark Fleming said a strong economy, as well as declining mortgage rates in 2019, led to falling income- and employment-specific defect risk. Read on for more details.
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Lending employee sentenced for fraud scheme
Posted Date: Wednesday, November 6, 2019
A former employee of Delta Homes and Lending was sentenced for his role in a conspiracy to commit wire fraud. Read on for more details.
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Father and son sentenced for defrauding HUD
Posted Date: Wednesday, November 6, 2019
A father and son were sentenced after pleading guilty to conspiracy to commit mail fraud as part of a scheme to defraud the U.S. Department of Housing and Urban Development to obtain money and property. Read on for more details.
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Three sentenced for scheme in Los Angeles
Posted Date: Wednesday, October 30, 2019
Three people have been sentenced for running a sophisticated real estate fraud scheme that resulted in the theft of more than $1.4 million from 2014 to 2016. Read on for more details.
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NCUA launches training effort to combat cyberthreats
Posted Date: Monday, October 28, 2019
The National Credit Union Administration Board is developing a multi-year plan to combat cyberthreats. As part of that plan, NCUA is planning a major training and information effort on cybersecurity. Read on for more details.
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Georgia attorney, real estate agent sentenced for obstruction for real estate sale
Posted Date: Monday, October 28, 2019
A Georgia lawyer and licensed real estate agent were sentenced for obstructing an official forfeiture proceeding. She used drug proceeds to renovate a house she owned in California. She blatantly disobeyed warnings from the federal government not to sell the house, and made off with a profit of almost $1 million from the sale. Read on for more details.
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