News By Edition

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).

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.

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.

A settlement company was sued by a party to real estate transactions for negligence and professional malpractice. After a trial court denied its motion to dismiss, the settlement company appealed.

The Philadelphia Records Department is offering an email alert service for notaries public to help them determine if their signature and notary stamp were used fraudulently on a document recorded in its office.

New York Gov. Kathy Hochul issued a proclamation designating October as Cybersecurity Awareness Month, highlighting resources for small businesses and New Yorkers.

The Office of the Comptroller of the Currency assessed a $6 million civil money penalty against Sterling Bank and Trust, FSB for violations related to the bank’s Advantage Loan Program.

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.

The Michigan Legislature is considering legislation that would amend 1895 PA 161, “An act to require county treasurers to furnish transcripts and abstracts of records and fixing the fees to be paid therefor.”

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.

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.

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.

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.

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.

The Consumer Financial Protection Bureau is asking for public input in ways to improve mortgage refinances and ways to support loss mitigation assistance.

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.

The Alaska Division of Insurance issued a notice of proposed changes to the regulation on reciprocal jurisdiction. Comments on its proposed changes will be accepted until Nov. 1, 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.