News By Edition

Hard issues are hitting the title industry from all sides, there is no question about that. The important thing is how you address those issues that really matter. Industry members in three jurisdictions are good examples of what happens when industry members and regulators work together to address a problem. Read on to find out how they did it.

A California appellate court upheld a lower court’s dismissal of the title insurance defendants from a negligence case for failure to state a cause of action, noting that the plaintiff failed to allege facts to show the companies owed it any duty of care and opining that no amendment could cure the defects.

A California appellate court determined that a title company was not liable for damages where the agent recorded the deeds provided by the client and issued the insurance policy. In its role as escrow holder, the court said, the company had no duty to determine whether the property description was accurate. The owner of the property contended that had asked for two sections of a property to be transferred and insured, while the legal description on the deeds referred to only one section.

The Consumer Financial Protection Bureau has proposed rules that would codify protections for privileged information submitted to the bureau by the financial institutions it regulates. Read on for more about the proposed rule.

The Fifth District Court of Appeal of Florida reversed a circuit court judgment, finding that an assignment endorsed in blank of a promissory note and an allegation that it was the owner and holder of the note at the time of a foreclosure filing was enough to establish standing. Read on for the details of the court’s decision.

The Minnesota legislature is considering a bill that, if passed, would exempt certain people from the state’s closing agent licensure requirements. Read on to find out more details about the potential new exemptions.

The Minnesota legislature is considering a bill that would provide a process for unaffixing manufactured homes from real property. Read on for more about the potential process.

A real estate investor from Cottage Grove, Minn., was sentenced to eight years in prison for defrauding investors of more than $5 million in a multi-state, house flipping scheme. Read on to find out more.

In a victory for the title insurance industry in Florida, the Florida legislature has passed bills that lay the groundwork for effective agent data calls in the state, which will be used by the state’s Office of Insurance Regulation to promulgate rates. Read on to learn more about these bills.

The Supreme Court of Georgia recently heard a case involving title to a house in Forsyth County, Ga., in which title to the property was clouded when a man transferred property via quitclaim deed to his wife and children and later purportedly transferred the property back to himself. The property was later foreclosed upon, purchased by another lender and re-sold to third-party buyers. Read on to find out more about the case.

The South Carolina General Assembly is considering a bill that would permit title insurers to provide closing protection to parties to real estate transactions in which they issue title insurance. Read on for more details.

The Financial Crimes Enforcement Network released a report showing that mortgage loan fraud suspicious activity report filings were up 20 percent year over year in the third quarter of 2011. Read on for more details from the report.

During the last few weeks, state and federal courts across the country have made determinations regarding Mortgage Electronic Registration Systems Inc.’s right to foreclose on properties in Oregon, Nevada and Washington. Read on to find out what the courts had to say and how it faired for MERS.

Galloway, Johnson, Tompkins, Burr & Smith announced the addition of the Title Resolution Team to its St. Louis office, with plans to add a title litigation attorney as well. Read on to find out more.

A Connecticut property owner sued the attorney who conducted the title search and closing on the property after the city of Hartford bulldozed the building for violations of city code and emergency repair, notifications of which were in the property records before she purchased the property. The trial court granted summary judgment in favor of the attorney and the case went to the Connecticut Appellate Court. Read on to find out what that court had to say.

In a welcome relief to title agents working in Washington, D.C., the district’s Department of Insurance, Securities and Banking (DISB) changed its position on settlement discounts, allowing agents to offer these discounts and compete with competitors’ prices. Read on to learn more about the issue.

A national underwriter’s attorney title agent program in Illinois was called into question by homeowners who felt the program violated RESPA Section 8, as well as state laws. The plaintiffs tried to get class certification, but were denied twice by the district court. Read on to find out how the 7th U.S. Court of Appeals ruled on the matter.

A real estate businessman doing business in Philadelphia was indicted for misrepresenting title to properties he owned when seeking loans using those properties as collateral. Read on to find out more details.

The Iowa legislature is considering a bill that would adopt the Uniform Law Commission’s Revised Uniform Law on Notarial Acts. Read on to find out more about the changes.

Chicago Title Insurance Co. recently sought reversal of a Washington State Office of the Insurance Commissioner ruling, arguing that the ruling erroneously imposed vicarious liability on the title insurer for the regulatory violations of its agent, merely because the insurer underwrites the agent’s insurance policies. Read on to find out what the Court of Appeals of Washington had to say when it ruled in the case.

The Oklahoma legislature is considering a bill that would change the state’s transfer on death procedures. Read on to find out more about the bill.

A Florida real estate attorney was acquitted of charges that he had participated in a mortgage fraud scheme with eight others. Read on to find out more details.

A serial fraudster from Maryland admitted to using several identities to fraudulently obtain real estate and commercial loans, as well as other forms of fraud. Read on to find out more about her schemes.

The Virginia Supreme Court ruled that title insurance companies operating in the state can sue under a surety bond issued as required under the Virginia Consumer Real Estate Settlement Protection Act, a question that had been plaguing the state’s trial courts. Read on to find out more.

Under a bill recently introduced in Alabama, title agents would be required to be licensed and be subject to certain education requirements. Read on to find out more details.