|
Utah adopts Consumer Privacy Act
Posted Date: Wednesday, May 18, 2022
The Utah State Legislature adopted the Utah Consumer Privacy Act. The new law, among other things, provides consumers with specific rights regarding their personal data and requires businesses that process consumers’ personal data to safeguard that data. The new law goes into effect Dec. 31, 2023.
|
|
|
|
NS3 Preview: NBA Hall-of-Famer to deliver keynote address
Posted Date: Monday, May 23, 2022
Attendees at the 18th annual National Settlement Services Summit (NS3) in Orlando, Fla., June 1-3, are in for a real treat when NBA Hall-of-Famer and successful businessman Rick Barry takes center stage.
|
|
|
CFPB issues interpretive rule clarifying state enforcement
Posted Date: Monday, May 23, 2022
The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule describing states’ authority to pursue lawbreaking companies and individuals that violate the provisions of federal consumer financial protection law.
|
|
|
|
|
|
NS3 Preview: Talent acquisition, marketing, and more focus of collaborative workshops
Posted Date: Wednesday, May 18, 2022
For the first time, the National Settlement Services Summit (NS3) will feature collaborative workshops to help those in the title industry develop plans to attract talented employees, prevent wire fraud, improve their marketing strategy and increase diversity in their offices. The 18th annual NS3 is being held June 1-3 at the Omni Orlando Resort at ChampionsGate in Orlando, Fla. The Collaborative Workshops track will take place Thursday, June 2.
|
|
|
Connecticut adopts probate fee lien bill
Posted Date: Wednesday, May 18, 2022
The Connecticut General Assembly has adopted legislation to clarify statutory provisions relating to a person having a title interest in real property that is subject to a lien for probate fees.
|
|
|
Illinois governor signs Counties Code legislation
Posted Date: Wednesday, May 18, 2022
Illinois Gov. J.B. Pritzker signed legislation to amend the Counties Code to provide that a physical or electronic image of a recorder’s stamp satisfies the signature requirement for recorded instruments prior to, on and after the effective date, May 13, 2022.
|
|
|
|
|
Utah Supreme Court determines status of covenants on HOA properties
Posted Date: Monday, May 16, 2022
A group of landowners sued to quiet title to their properties in their homeowners association after restrictive covenants prevented them from developing their property. The restrictive covenants had been filed by one landowner who owned eight of the 2,000 acres in the HOA. The landowners argued the HOA and the restrictive covenants were void ab initio because the covenants had not been signed by the affected landowner.
|
|
|
New York passes foreclosure abuse prevention bill
Posted Date: Monday, May 16, 2022
The New York State Legislature passed legislation to address an ongoing problem with abuses of the judicial foreclosure process it feels has been exacerbated by court decisions that give mortgage lenders and loan servicers opportunities to avoid strict compliance with state statutes. The bill would clarify existing statutes, codify correct judicial applications of state statute. The bill awaits the governor’s signature.
|
|
|
CFPB launches Consumer Financial Protection Circulars
Posted Date: Monday, May 16, 2022
The Consumer Financial Protection Bureau (CFPB) announced it will issue Consumer Financial Protection Circulars to government agencies responsible for enforcing federal consumer financial law to provide the agencies with guidance concerning how the CFPB intends to enforce federal consumer financial law.
|
|
|
Bank seeks equitable reformation of deed for not reflecting secured collateral
Posted Date: Monday, May 16, 2022
A bank sued the owners of property, seeking equitable reformation of a security deed arguing that because of a mutual mistake, the deed did not accurately reflect the collateral that should have been restored. The parties disagreed as to whether the parties intended to secure these tracts and each party moved for summary judgment.
|
|
|
ALTA supports Biden’s housing announcement
Posted Date: Monday, May 16, 2022
Shortly after President Joe Biden announced new actions to ease the burden of housing costs, the American Land Title Association issued a statement supporting the efforts.
|
|
|
Virginia adopts eminent domain amendments
Posted Date: Monday, May 16, 2022
The Virginia General Assembly has adopted legislation adopting amendments to the state’s eminent domain statutes, providing for attorneys fees to be awarded in eminent domain cases in which there is a judgment for a property owner if the judgment is not paid within the time required by law.
|
|
|
Man seeks to prevent foreclosure on home
Posted Date: Wednesday, May 11, 2022
Believing that the property he resides in is facing foreclosure, a man filed suit against Fannie Mae, the Federal Housing Finance Agency (FHFA) and Wells Fargo Bank. He had sold the house to his adult son 15 years ago but continues to reside there. He argues the defendants conspired to provide his son with a mortgage they knew he couldn’t afford to collect the proceeds of a later foreclosure sale.
|
|
|
Parties dispute reconveyance document
Posted Date: Wednesday, May 11, 2022
Parties dispute a reconveyance document for a deed of trust on a second mortgage on a couple’s property in Maple Valley, Wash. The couple understood the property to extinguish the lien on their home. When Mortgage Electronic Registration Systems Inc. executed a document to assign its interest in the deed of trust years later, and the assignee moved to foreclose on the property, the couple sued.
|
|
|
CFPB provides Spanish translations for disclosures
Posted Date: Wednesday, May 11, 2022
To help financial service providers better support Spanish-speaking communities, the Consumer Financial Protection Bureau made available Spanish translations of several disclosures, including mortgage origination documents.
|
|
|
Louisiana looking to extend eFiling task force deadlines
Posted Date: Wednesday, May 11, 2022
The Louisiana State Legislature is considering a senate resolution to extend the reporting and termination deadlines of the Task Force on Statewide Standards for Clerks of Court Electronic Filing and Records Retention.
|
|
|
Kentucky adopts property documentation bill
Posted Date: Wednesday, May 11, 2022
The Kentucky General Assembly adopted legislation relating to the documentation for property which has a Kentucky certificate of title.
|
|
|
Man sentenced to 15 years for mortgage fraud
Posted Date: Wednesday, May 11, 2022
A man was sentenced to 15 years in prison for a bank fraud scheme that sought to fraudulently eliminate home mortgages and profit from subsequent home sales.
|
|
|
Federal court remands bad faith case to Nevada court
Posted Date: Monday, May 9, 2022
In one of several breach of contract and insurance bad faith cases arising from a denial of title insurance claims stemming from Nevada law, the U.S. District Court for the District of Nevada remanded a case to state court. In the case, the bank alleged the insurer had entered into a contractual relationship with its predecessor-in-interest to ensure that its deed of trust was superior to competing liens, including a lien from a home owners’ association.
|
|
|
|
|
|
|
Former N.Y. real estate attorney sentenced for $14.6M fraud
Posted Date: Monday, May 9, 2022
A former licensed New York attorney was sentenced for stealing more than $14.6 million in funds—belonging to at least 35 individuals and companies—from his attorney escrow accounts. He had pleaded guilty in December 2021.
|
|