|
Ohio appellate court rules phished homebuyer can sue hacked escrow agent
Posted Date: Wednesday, May 24, 2023
The Third Appellate District Court of Appeals of Ohio reversed a lower court ruling in a case brought by a homebuyer who had sent money to scammers instead of an escrow agent after receiving fraudulent wire instructions. It said the lower court was wrong to dismiss the breach of contract and breach of fiduciary duty claims against the escrow agent because genuine issues of material fact remain as to whether an implied agreement for escrow services exists.
|
|
|
Companies, associations voice support for SECURE Notarization Act
Posted Date: Monday, May 22, 2023
A coalition of numerous state and federal trade associations, underwriters and others wrote to U.S Sens. Kevin Cramer (R-N.D.) and Mark Warner (D-Va.) to voice their support for S. 1212, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act).
|
|
|
|
|
Tennessee adopts foreign ownership of real property legislation
Posted Date: Monday, May 22, 2023
Tennessee Gov. Bill Lee signed legislation that prohibits certain foreign ownership of real property in the state by nonresident aliens and foreign entities if certain conditions are met. The bill goes into effect July 1.
|
|
|
|
MISMO initiatives bridge the gap between industry members
Posted Date: Wednesday, May 31, 2023
During the 19th annual National Settlement Services Summit (NS3) in St. Louis, June 6-8, Ruth Dillingham, owner, Dillingham Consulting LLC, and a representative of the MISMO Title and Closing Community of Practice, will share about new initiatives MISMO is engaged in that will make a difference in the working relationship between and among mortgage and title professionals.
|
|
|
NYDFS announces cybersecurity settlement with mortgage servicer
Posted Date: Wednesday, May 31, 2023
New York Department of Financial Services Superintendent Adrienne Harris announced OneMain Financial Group LLC will pay a $4.25 million penalty to New York state for violations of the department’s cybersecurity regulation. OneMain failed to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology, significantly increasing the company’s vulnerability to cybersecurity events.
|
|
|
Connecticut considers online recording taskforce
Posted Date: Wednesday, May 31, 2023
The Connecticut General Assembly is considering legislation to establish a task force to study the online recording, indexing and searching of municipal land records and maps.
|
|
|
Colorado Division of Real Estate issues advisory on trust/escrow accounts
Posted Date: Wednesday, May 31, 2023
The Colorado Division of Real Estate issued a broker advisory addressing questions and concerns from real estate brokers and financial institutions regarding the requirements for engaging in property management or holding money belonging to others to establish a trust or escrow account.
|
|
|
Sheriff’s officer admits to short sale conspiracy
Posted Date: Wednesday, May 31, 2023
A former Hudson County, N.J., Sheriff’s Officer admitted conspiring to make false statements to a bank in connection with an application to discharge a mortgage through a fraudulent short sale.
|
|
|
|
What’s next for data privacy efforts?
Posted Date: Wednesday, May 24, 2023
Data privacy is an ever-evolving area of concern for any industry that handles personal data, and this is especially important for those industries that handle individual’s financial data. Data privacy experts Ryan Cabrita of The Gulotta Grabiner Law Group and Greg Szewczyk of national law firm Ballard Spahr will discuss some of the big up-and-coming topics.
Read on for more details.
|
|
|
|
|
New Jersey man arrested for theft, forgery
Posted Date: Wednesday, May 24, 2023
After an investigation by the Bergen County, N.J., Prosecutor’s Office, a Rochelle Park, N.J., man was arrested on charges of theft by deception, theft, and forgery regarding a real estate investment scheme.
|
|
|
Former employee files discrimination suit against title company
Posted Date: Monday, May 22, 2023
After receiving what she felt to be discriminatory treatment after coming back from maternity leave, and ultimately being terminated, a female title company employee filed suit against her former employer for sex-based discrimination and retaliatory discharge in violation of Title VII of the Civil Rights Act of 1964.
|
|
|
Texas passes payoff legislation
Posted Date: Monday, May 22, 2023
The Texas Legislature passed 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 awaits the governor’s signature.
|
|