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What to expect from Director Chopra’s leadership
Posted Date: Wednesday, October 6, 2021
Ten months after Rohit Chopra was nominated to lead the Consumer Financial Protection Bureau, the Senate confirmed his appointment 50-48. Now that he is taking his position, what can we expect from the CFPB under Director Chopra?
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Associations urge passage of national privacy legislation
Posted Date: Wednesday, October 6, 2021
Several industry associations, including the American Escrow Association, American Land Title Association, National Association of Realtors, and the New York State Land Title Association, wrote to the chair and ranking member of the Senate Committee on Commerce, Science and Transportation, urging Congress to pass national privacy legislation.
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Wisconsin insurance commissioner issues data security bulletin
Posted Date: Wednesday, October 6, 2021
The Wisconsin Office of the Commissioner of Insurance issued a bulletin to all licensees, ensuring they are aware of the state’s new insurance data security law, which requires them to develop and maintain information security programs, promptly investigate cybersecurity events, and notify OCI and consumers when a breach has occurred.
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Washington State issues proposed rulemaking on county declarations
Posted Date: Wednesday, October 6, 2021
The Washington Office of the Insurance Commissioner issued proposed rulemaking to add regulations for title agents to submit proof of ownership or leasing rights to the tract indexes for counties they apply to operate in on the initial declaration of title agent form.
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Government forbearance deadline extended
Posted Date: Wednesday, October 6, 2021
In a post on its blog, the Consumer Financial Protection Bureau announced the deadline to request initial forbearance for HUD/FHA, USDA or VA backed loans has been extended until the national emergency ends.
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Associations urge Congress to raise debt limit
Posted Date: Wednesday, September 29, 2021
Several industry associations, including the American Land Title Association, Mortgage Bankers Association and National Association of Realtors, sent a letter to Congressional leadership urging them to raise the statutory debt limit.
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Investors allege title company aided and abetted fraud scheme
Posted Date: Wednesday, September 29, 2021
Several LLCs formed to purchase investment rental property sued the title company that conducted the transactions, claiming the company aided and abetted fraud by failing to prevent the company managing the transactions false statements and misappropriation of funds.
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Lender, third-party purchaser dispute standing to foreclose
Posted Date: Wednesday, September 29, 2021
In a decade long foreclosure action, the purchaser of the property at a homeowners association foreclosure sale argued the bank that held the superior lien on the property had no standing to foreclose. The case was bounced between Florida trial and appellate courts.
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Two charged with identity theft, bank fraud
Posted Date: Wednesday, September 29, 2021
A federal grand jury has returned an indictment charging two people from Brandywine, Md., with conspiracy to commit wire fraud and bank fraud, the substantive charge of bank fraud, false statement in a passport application, and aggravated identity theft.
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New Hampshire adopts notary, recording legislation
Posted Date: Monday, September 27, 2021
The General Court of New Hampshire adopted legislation that, among other things adopts the revised uniform law on notarial acts and the uniform real property electronic recording act. The majority of these provisions will go into effect Feb. 6, 2022.
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Court holds insurer not required to inform agent of claim
Posted Date: Monday, September 27, 2021
A New York state court addressed whether a title insurer was obligated to inform its agent of a title claim arising from a title policy it issued. Nor did the insurer have to seek its agent’s consent before settling.
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Parties dispute breach of contract
Posted Date: Monday, September 27, 2021
As part of a settlement agreement, a plaintiff opened an escrow with a local title company to handle the transfer of real property and payment of settlement funds. It later filed suit against that company, arguing it breached the title policy by failing to resolve all title defects and not filing certain documents with the Nevada State Water Engineer.
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Maryland Insurance Administration moving to one-part licensing examinations
Posted Date: Monday, September 27, 2021
The Maryland Insurance Administration announced effective Oct. 21, 2021, all state licensing examinations will be administered in one part which will cover both state and general content, rather than two parts. The current two-part licensing exams will no longer be offered after Oct. 13, 2021.
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