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Virginia adopts cybersecurity regulation
Posted Date: Monday, June 14, 2021
The Virginia Bureau of Insurance adopted regulations to carry out the provisions of the Insurance Data Security Act. Read on for more details.
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White House issues open letter on ransomware
Posted Date: Wednesday, June 16, 2021
Anne Neuberger, deputy assistant to the president and deputy national security advisor for cyber and emerging technology, issued an open letter to corporate executives and business leaders on ways to protect against ransomware. Read on for more details.
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Property owner sues buyer, title company after failed sale
Posted Date: Wednesday, June 16, 2021
After declaring bankruptcy, the owner of a hotel in Kanawha County, W.Va., entered into an agreement to sell the property. The sale did not go through, and the property owner filed an adversary proceeding, alleging breach of the sales contract against the buyer and a breach of the escrow agreement against the title company. Read on for more details.
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Connecticut adopts seller disclosure revisions
Posted Date: Wednesday, June 16, 2021
The Connecticut General Assembly adopted legislation requiring the disclosure of dams and similar structures by sellers of real property. Read on for more details.
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Associations send SECURE Act support letter to representatives
Posted Date: Monday, June 14, 2021
Several industry associations, including the American Land Title Association, Mortgage Bankers Association, American Escrow Association and National Association of Realtors sent letters to Reps. Madeleine Dean and Kelly Armstrong, voicing their support for the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act). Read on for more details.
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Property owner seeks RESPA claim in kickback class action
Posted Date: Monday, June 14, 2021
Twelve years after suing his title insurer and related entities in 2007, including a claim under California’s Unfair Competition Law predicated on an alleged violation of RESPA, a buyer sought leave to file an amended complaint adding a freestanding RESPA claim. The trial court denied this claim and the buyer appealed. Read on for more details.
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Mortgagor sues bank, title company after short sale
Posted Date: Wednesday, June 9, 2021
To help facilitate a short sale of property, the holder of a second lien on property in New Jersey agreed to a partial payment to release its lien. The mortgagor failed to continue making payments on the secondary loan, as required by the note. The mortgagee filed suit and the mortgagor filed suit against it and the title company that facilitated the short sale. Read on for more details.
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Freddie Mac provides guidance on RIN
Posted Date: Wednesday, June 9, 2021
Freddie Mac has updated its Single-Family Seller Servicer Guide to provide minimum standards for loans that are notarized through remote ink notarizations. Read on for more details.
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Louisiana considers electronic records task force resolution
Posted Date: Wednesday, June 9, 2021
The Louisiana Legislature is considering a resolution to form a task force to study the feasibility and propriety of the clerk of court creating electronic records of original paper documents, as well as the maintenance, preservation and disposition of original paper documents once converted to electronic record. Read on for more details.
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Maryland to stop automatically extending licenses
Posted Date: Wednesday, June 9, 2021
The Maryland Insurance Administration issued Bulletin 21-15, which states that it will longer automatically extend expiration dates beyond June 30, 2021. Read on for more details.
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New York RON executive order extended to July
Posted Date: Wednesday, June 9, 2021
New York Gov. Andrew Cuomo issued Executive Order No. 202.110, extending, among other things, the authorization for notaries to perform notarizations utilizing audio-video technology until July 5, 2021. Read on for more details.
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Maryland names new associate deputy commissioner
Posted Date: Monday, June 7, 2021
Maryland Insurance Commissioner Kathleen Birrane named a new associate deputy commissioner for the Maryland Insurance Administration (MIA), completing MIA’s executive team, which includes Birrane, Deputy Commissioner Greg Derwart, and Chief of Staff Kory Boone. Read on for more details.
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