News By Edition

The New Jersey Legislature introduced a bill that would revise the state’s tax sale law and the In Rem Tax Foreclosure Act to bring those laws into compliance with the recent U.S. Supreme Court decision in Tyler v. Hennepin County, Minn.

Fannie Mae recently updated its Selling Guide. Among other things, Fannie Mae noted it will permit lenders to obtain attorney title opinion letters, in limited circumstances, for loans secured by a unit in a condominium project. It will also allow remote online notarizations for loans on properties in California beginning Jan. 1.

After purchasing property in California and purchasing title insurance, the buyer of the property was notified of land use violations on the property. The title insurer denied a claim regarding the violations and the buyer filed suit.

The Florida Legislature filed legislation to create a pilot program in Broward County to prevent title fraud.

The city of Baltimore selected a company to develop a blockchain platform for recording vacant properties in the city. The effort will start with recording 14,000 properties.

The buyer of commercial property appealed a ruling sustaining a demurrer to its amended complaint alleging a breach of general warranty of title. It asserted the court erred in finding it had not sufficiently pled an actual or constructive eviction, as necessary for a breach of general warranty claim.

The Florida legislature filed legislation that would prohibit community associations from charging a fee for the production and delivery of estoppel certificates.

A Suffolk County, N.Y., attorney was arrested on charges of grand larceny for allegedly stealing funds from two parties to a real estate transaction.

The Florida Legislature filed legislation that would authorize owners of real property to create easement, servitude, or other interest in the owner’s real property.

The Louisiana Department of Insurance issued a notice of intent to amend Regulation 104-Corporate Governance Annual Disclosure to add a definition of insurance group and correct typographical errors and statutory references.

A title insurer sought a court’s reconsideration in a breach of contract case. The U.S. District Court for the Eastern District of Virginia had found that the insured established the insurer’s breach of its title policy by failing to compensate the insured for losses incurred because of unmarketable title.

Pennsylvania Gov. Josh Shapiro signed legislation that provides for the repudiation of discriminatory real estate covenants.

California Attorney General Rob Bonta filed suit against MV Realty, who he alleged engaged in a predatory scheme to lock vulnerable homeowners into 40-year exclusive listing agreements and placed illegal liens on their homes.

The Virginia General Assembly prefiled legislation that would remove an application requirement for people applying for recommission as a notary or electronic notary.

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network named a new deputy director.

The Missouri General Assembly prefiled legislation that would expand the definition of certified funds for use by real estate settlement agents and title insurance agents.

The D.C. Council introduced the Defective Deed Recordation Clarification Amendment Act of 2023 to fix a 30-year gap in some provisions governing recorded deeds.

On Dec. 11, the Financial Crimes Enforcement Network (FinCEN) issued another set answers to its Beneficial Ownership Information FAQs. The new questions include ones related to general questions, the reporting process, reporting companies, reporting requirements, initial reports, updated reports, compliance and enforcement, FinCEN identifiers, and third-party service providers.

Suffolk District Attorney Raymond Tierney announced that the former principal attorney at the Valente Law Group based in Stony Brook, N.Y., pleaded guilty to stealing more than $800,000 from three of his former real estate clients.

Stewart Title Co. filed a petition for declaratory judgment and application for permanent injunctive relief against Qualia Labs Inc., seeking a declaratory judgment and permanent injunctive relief to preclude Qualia from wrongfully terminating the ResWare Master License and Service Agreement Stewart entered into years earlier.

The South Carolina Legislature prefiled the Prohibition of Unfair Real Estate Service Agreements Act. It would make the prohibitions effective for any real estate service agreements that are recorded on the effective date of the bill, or that are executed, modified, extended, or amended on or after the effective date.

Massachusetts Attorney General Andrea Joy Campbell proposed regulations to prohibit hidden junk fees. The imposition of such fees is an unfair and deceptive practice and subject to regulation under the Commonwealth’s consumer protection law.

Montgomery County, Ohio, Recorder Stacey Benson-Taylor kicked off the Recorder’s Office exposing deed fraud initiative.

A disbarred Queens, N.Y., attorney pleaded guilty to defrauding his real estate clients and their counterparties of funds held in his attorney escrow account.

The Community Home Lenders of America wrote to Federal Housing Finance Agency Director Sandra Thompson voicing its support of the use of attorney opinion letters in lieu of title insurance in conjunction with enterprise mortgage loans, subject to reasonable standards.

The Arizona Legislature will consider legislation that would adopt recording requirements for disclosure affidavits for land divisions.

Netwrix released a list of five key IT security trends that will affect organizations of all sizes in 2024. It noted that artificial intelligence-powered attacks will accelerate cybercrime and cyberinsurance will be harder to get.

A Laredo, Texas, man was sentenced for his role in a complex mortgage fraud scheme in which he altered hundreds of documents to get otherwise unqualified buyers approved for government-backed mortgages.

Members of the National Association of Insurance Commissioners (NAIC) elected the 2024 officers at the conclusion of the NAIC Fall National Meeting in Orlando.

In its latest filing with the Securities and Exchange Commission, Fidelity National Financial reported that it contained the cybersecurity incident it reported on Nov. 19 and that it is restoring normal business operations.

Tennessee Attorney General Jonathan Skrmetti issued an opinion regarding the constitutionality of the definition of “moveable structure” in Tenn. Code Ann. Section 67-5-501(7).

The Financial Crimes Enforcement Network issued a final rule that extends the deadline for certain reporting companies to file their initial beneficial ownership information.

A Clay County, Fla., man was sentenced to federal prison for conspiracy to commit wire fraud through his purported mortgage auditing service company.