News By Edition

The Illinois Division of Financial Institutions reached an agreement with Professional National Title Network (PNTN) regarding the allegations in a cease-and-desist order demanding PNTN discontinue its Examining Attorney Program. Read on for more details.

The Louisiana Legislature is considering a bill that would provide qualification and licensing requirements for title insurance producers. Read on for more details.

A title insurer sued a policy issuing agent after it had to pay a claim for an improperly issued title policy to recover under the agency manager’s personal guaranty that the agency would indemnify and save harmless the insurer for all losses resulting from certain errors and omissions. Read on for more details.

The Consumer Financial Protection Bureau announced three measures to advance its priority of preventing consumer harm, including amending and reissuing its responsible conduct bulletin, implementing an advisory opinion program and proposing a whistleblower award program. Read on for more details.

A bill that would create a prohibition against payment or receipt of settlement services kickbacks, rebates, commissions and other payments has been adopted by the Virginia House and Senate and awaits the governor’s signature. Read on for more details.

Mortgage fraud risk has fallen to a new low, according to First American’s Loan Application Defect Index for January 2020. Read on for more details.

A buyer at a nonjudicial foreclosure sale purchased a deed of trust believing it was in the first lien position. After purchasing the deed, he discovered the lien was in second position and sought to return the deed and recoup his funds. When that didn’t work, he filed suit to rescind the sale. Read on for more details.

After receiving notice of a cyber malware attack late on Friday, March 6, the city of Durham and Durham County government in North Carolina are now in the recovery process. Read on for more details.

The Rhode Island General Assembly is considering a bill that would provide for the release of unperfected mechanics’ liens by the filing of an affidavit. Read on for more details.

A Union County, N.J., man was arrested by federal agents on charges of mortgage fraud and scheming to defraud the Orange Public Library. Read on for more details.

The Virginia General Assembly added a provision regarding the advertisement required before the sale of property by a trustee to a bill that would also clarify a trustee’s fiduciary duties under a deed of trust. Read on for more details.

A Long Island man was sentenced to one-and-a-half to four-and-a-half years in prison for stealing a vacant brownstone worth more than $1 million in a deed fraud scheme targeting an 80-year-old Bedford-Stuyvesant homeowner. Read on for more details.

A federal jury found Anthony T. Williams, 48, of Nashville, Tenn., guilty of 32 counts of wire and mail fraud. He marketed a fraudulent mortgage debt reduction scheme to distressed homeowners. Read on for more details.

An insured bank filed suit against its title insurer for failing to indemnify it in litigation over a homeowner’s association’s foreclosure sale. The insurer filed a motion to dismiss and motion for judgment on the pleadings. Read on for more details.

The Maryland Insurance Administration issued a bulletin reminding title companies of regulatory changes which will go into effect April 20, 2020. Read on for more details.

The Oklahoma Legislature now is considering a committee substitute to a bill amending the title insurance law. The new language would add a new section to Oklahoma Statutes Section 5009 of Title 36. Read on for more details.

The owner of a mortgage debt elimination company was sentenced to time in prison in connection with a $38 million scheme. She was convicted in June 2019. Read on for more details.