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Pennsylvania governor signs Insurance Data Security Act
Posted Date: Wednesday, June 28, 2023
Pennsylvania Gov. Josh Shapiro signed HB 739, the Pennsylvania Insurance Data Security Act, after the bill passed unanimously through the state’s house and senate. Pennsylvania joins 21 states in adopting legislation based on the National Association of Insurance Commissioners (NAIC) model insurance data security law.
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IC3 issues PSA on business email compromise
Posted Date: Monday, June 19, 2023
The FBI’s Internet Crime Complaint Center (IC3) issued PSA I-060923-PSA as an update and companion piece to Business Email Compromise PSA I-050422-PSA. It includes new complaint information and updated statistics from October 2013 to December 2022.
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FHFA releases Q1 foreclosure prevention and refinance report
Posted Date: Wednesday, June 28, 2023
The Federal Housing Finance Agency released its first quarter 2023 Foreclosure Prevention and Refinance Report. The report showed that Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September 2008.
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Keynote shares “Victory Defined” to drive creativity, collaboration
Posted Date: Wednesday, June 21, 2023
The 19th annual National Settlement Services Summit (NS3) in St. Louis, hosted by October Research, LLC., featured a noteworthy presenter whose keynote address inspired the audience with his tips necessary for success. Ed Molitor, founder and CEO of The Molitor Group and host of the podcast “The Athletics of Business,” brought much energy and passion to the main ballroom stage.
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Insurer seeks sealing of bulletins to protect secrets
Posted Date: Wednesday, June 21, 2023
A title insurer moved to seal two bulletins and a portion of a deposition transcript to protect the insurer’s trade secrets. The plaintiff bank opposed the motion, arguing that the bulletins are simply regurgitating industry custom and trade usage that is widely available in the public record.
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California considers exclusive listing agreement legislation
Posted Date: Wednesday, June 21, 2023
The California State Assembly is considering legislation that would prohibit entering into exclusive residential agreements lasting more than 12 months, as well as prohibit the recording of these agreements on the sale of residential real estate.
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Seller sues parties after allegedly fraudulent second sale
Posted Date: Monday, June 19, 2023
After a seller sold two properties to a buyer and loaned the buyer the funds to purchase the property, the buyer sold the properties to a third party. After learning of the sales, the original seller sued the buyer, the title company that handled escrow, the second purchaser and the notary who witnessed several documents, alleging the documents had been forged.
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Ginnie Mae extends use of eSignatures, RON
Posted Date: Monday, June 19, 2023
Ginnie Mae announced in All Participants Memorandum (APM) 23-09 that it is extending the use of electronic signatures in conjunction with remote online notarization to include power of attorney mortgage documents.
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Texas adopts payoff legislation
Posted Date: Monday, June 19, 2023
Texas Gov. Greg Abbott signed legislation relating to the release of a deed of trust or other contract lien securing a home loan after a payoff by the mortgagor. The bill goes into effect Sept. 1.
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Rhode Island adopts real estate disclosure requirements
Posted Date: Monday, June 19, 2023
Rhode Island Gov. Daniel McKee signed legislation establishing separate disclosure requirements for the sale of vacant land and for the sale of real property and improvements consisting of a house or building containing one to four dwelling units.
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Atlanta woman sentenced for expansive loan fraud scheme
Posted Date: Monday, June 19, 2023
A woman from Atlanta was sentenced to more than 10 years in prison for her role in an expansive loan fraud scheme. She was convicted of conspiracy to commit bank fraud, bank fraud, and conspiracy to commit money laundering.
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