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FinCEN issues final beneficial ownership reporting rule
Posted Date: Monday, October 3, 2022
The Financial Crimes Enforcement Network (FinCEN) issued a final rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act (CTA).
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Title insurer seeks to dismiss HOA foreclosure coverage case
Posted Date: Wednesday, October 5, 2022
In a lawsuit involving a title insurance dispute stemming from litigation over a homeowner’s association’s foreclosure sale, the defendant title insurer moved to dismiss a first amended complaint. In issuing its opinion, the U.S. District Court for the District of Nevada looked to its decision in a very similar case.
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Maryland issues cybersecurity event reporting bulletin
Posted Date: Wednesday, October 5, 2022
The Maryland Insurance Administration issued Bulletin 22-13 Re: Reporting cybersecurity events to the Maryland Insurance Administration, reminding them the reporting requirement went into effect Oct. 1.
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Policy holder sues closer for negligent search
Posted Date: Monday, October 3, 2022
When purchasing property in Hudson, N.H., with her former husband, a policyholder believed the closer would conduct a title search. The lender’s instructions said the closer was to prove no delinquent taxes, undisclosed liens, judgments or assessments were attached to the property. When the policy holder went to sell the property, defects were discovered. She then sued the closer for negligence.
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Maryland names two to government relations, partnership roles
Posted Date: Monday, October 3, 2022
Maryland Insurance Commissioner Kathleen Birrane named a new director of government relations and a director of health insurance regulatory affairs and national partnerships in the Maryland Insurance Administration.
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PRIA elects officers, directors
Posted Date: Monday, October 3, 2022
During its annual conference in Ft. Lauderdale, Fla., the Property Records Industry Association elected six directors in three categories to serve two-year terms on its board of directors.
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Real estate broker sentenced for deposit scheme
Posted Date: Monday, October 3, 2022
A Quincy, Mass., real estate broker was sentenced in federal court in Boston for operating a scheme in which he falsely marketed properties that were not for sale, or had already been sold, and then stole the buyers’ real estate deposits.
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Parties dispute jurisdiction of tribal land suit
Posted Date: Monday, September 26, 2022
The parties to proposed sale of property and a business located on tribal land dispute the jurisdiction of a case brought by the purchaser against the seller of the property. The purchaser sued the seller, alleging claims for, among other things, breach of contract and unjust enrichment.
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Court extends stay in HOA foreclosure coverage case
Posted Date: Monday, September 26, 2022
After the beneficiary under a deed of trust became involved in a dispute regarding the foreclosure of an HOA lien on the property, it sought coverage from its title insurer. When the claim was denied, the lender filed suit against the insurer. The case has been stayed until a decision was reached in another case. The title insurer moved to extend the stay until a decision is reached in another case.
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New York county victim of cyberattack
Posted Date: Monday, September 26, 2022
On Sept. 8, 2022, Suffolk County, N.Y., determined its systems had been affected by a cyberattack. It is believed the threat actors accessed and/or acquired personal information from one or more county agency servers.
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The Clearing House issues white paper on Regulation E error resolution
Posted Date: Monday, September 26, 2022
The Clearing House (TCH) released a white paper that analyzes the application of the Electronic Fund Transfer Act (EFTA) and Regulation E (Reg E) error resolution requirements to financial institutions involved in certain person-to-person (P2P) transactions.
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