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California Legislature adopts CCPA amendments
Posted Date: Wednesday, September 18, 2019
The California Legislature has adopted four amendments to the California Consumer Privacy Act of 2018. These amendments await the governor’s signature. Read on for more details.
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Trade associations call for delay to California privacy law
Posted Date: Wednesday, September 18, 2019
Trade associations, led by the National Association of Federally Insured Credit Unions, wrote to California’s governor, attorney general and legislature, calling on them to extend the effective date of the California Consumer Privacy Act (CCPA) to Jan. 1, 2022. The group, which includes the American Escrow Association, American Land Title Association, Real Estate Services Providers Council and several state land title associations, say the delay will provide sufficient time to resolve ambiguities in the CCPA and help businesses implement systems to meaningfully protect consumers’ privacy. Read on for more details.
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Lender sues title company, attorney for alleged role in fraud
Posted Date: Monday, August 19, 2019
The assignee for a lender who provided $11 million for the purchase of 200 acres, filed suit against the title company that conducted the transaction and the mortgagor’s attorney after discovering that the mortgagor had engaged in fraud during the purchase of the land. Read on for more details.
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Buyer, seller dispute responsibility for tax liens
Posted Date: Monday, August 19, 2019
The buyer and seller of property in Solana Beach, Calif., dispute the responsibility to pay tax liens owed on the property. The cross-claim was brought after the U.S. filed the initial suit against the banks, mortgage company, buyers and sellers. Read on for more details.
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California Legislature passes trustee substitution bill
Posted Date: Wednesday, September 18, 2019
The California Legislature passed a bill that would authorize a trustee of a deed of trust to resign, in addition to beneficiaries of deeds of trust being authorized to substitute new trustees. The bill awaits the governor’s signature.
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NAIC warns of phishing scam
Posted Date: Monday, September 16, 2019
The National Association of Insurance Commissioners and several member insurance departments are notifying insurance producers of a scam regarding falsified insurance claims that had been submitted to the NAIC. Read on for more details.
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Buyer, city dispute assessment lien
Posted Date: Monday, September 23, 2019
The city of Belle Fourche, S.D., issued an assessment for vegetation removal in 2016 on property that was later bought by Bingham Farms Trust, which had no knowledge of the assessment when it purchased the property. After attempting to obtain information on the special assessment and have it removed, Bingham filed suit. Read on for more details.
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Title company seeks payment after mortgage subordinated
Posted Date: Wednesday, September 25, 2019
After a title attorney paid off the wrong mortgage for a couple who were investment property owners, the title insurance company sued the couple for unjust unrichment after it paid to correct the lien priority position on the unpaid mortgage. The couple filed special defenses of laches, unclean hands and contract for a benefit of a third party. In an unpublished opinion, the Superior Court of Connecticut sided with the title insurance company on all three counts.
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NS3: Regulators discuss priorities, being there to help
Posted Date: Wednesday, September 25, 2019
A panel of state and federal regulators took the stage at the 2019 National Settlement Services Summit (NS3) in Phoenix to discuss their priorities for the foreseeable future and how they can be a resource for the professionals they supervise, even if the formation of mutually relationships between the parties can be a difficult task.
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Mineral rights dispute lands in bankruptcy court
Posted Date: Wednesday, September 25, 2019
A dispute over ownership of mineral rights on property in New Mexico has been ongoing since the debtor first filed bankruptcy in 2003. More than two years after a family member was denied quiet title to the minerals, she again sought nunc pro tunc stay relief. The Bankruptcy Court in New Mexico conducted a Schumann analysis to determine whether nunc pro tunc stay relief was warranted.
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Ladd receives PRIA Founders Award
Posted Date: Wednesday, September 25, 2019
The Property Records Industry Association (PRIA) presented the Carl R. Ernst Founders Award to Mark Ladd, vice president of regulatory and industry affairs at Simplifile, during the group’s annual conference. Read on for more details.
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Wyoming appoints new insurance commissioner
Posted Date: Wednesday, September 25, 2019
Wyoming Gov. Mark Gordon announced the appointment of Jeff Rude as commissioner of the Wyoming Insurance Department and Patricia Bach as director of the Wyoming Department of Administration and Information (A&I). Read on for more details.
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Couple found guilty of equity skimming scheme
Posted Date: Wednesday, September 25, 2019
A Greenville, S.C., woman and her husband were found guilty of a conspiracy to commit mail fraud and equity skimming. They promised to relieve homeowners from the burdens of mortgage payments by buying homes and finding buyers to rent-to-own the property and promised buyers an easy road to homeownership. Read on for more details.
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Buyer sues seller, others for title defect
Posted Date: Monday, September 23, 2019
Years after purchasing property, the buyer of the property discovered title deficiencies. The seller (a bank) and seller’s attorney argued that the buyer’s deed was not defective and the title company argued it had corrected any defects. Read on to find out how the appellate court ruled on the defendants’ motions to dismiss.
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CFPB keeps consumer complaint database public
Posted Date: Monday, September 23, 2019
The Consumer Financial Protection Bureau (CFPB) announced that it will make several enhancements to the information available to users of the database and will continue making complaints viewable by the public. Read on for more about these changes.
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Appraisal district impacted by ransomware attack
Posted Date: Monday, September 23, 2019
The Travis Central Appraisal District announced that its computer systems were impacted by a ransomware attack. In its announcement, it noted that no daily operations had been impacted and that all core systems have been fully restored. Read on for more details.
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PRIA elects Board of Directors
Posted Date: Monday, September 23, 2019
During its August annual conference in Colorado Springs, Colo., the Property Records Industry Association (PRIA) elected seven directors in three categories to serve two-year terms on the Board of Directors. Read on for more details.
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Nebraska amends CPL bulletin
Posted Date: Wednesday, September 18, 2019
The Nebraska Department of Insurance amended Bulletin CB-140 regarding closing protection letters to incorporate changes made to the Title Insurer’s Act in LB 221 during the 2019 legislative session. Read on for more details.
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New Orleans man pleads guilty to fraud
Posted Date: Wednesday, September 18, 2019
A New Orleans man pled guilty to mortgage fraud, obtaining mortgages on three properties then forging cancellations to obtain additional mortgages on those same properties. Read on for more details.
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Title insurer, church debate tax liability
Posted Date: Monday, September 16, 2019
The responsibility of paying tax rollbacks following the sale of a church in Texas saw a title insurer and the church debating two contracts seemingly in conflict over which party was liable. The Court of Appeals of Texas, Houston, First District, determined that both contracts were correct, creating an intractable conflict between the plain language of both provisions.
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eRecording reaches new milestone
Posted Date: Monday, September 16, 2019
The Property Records Industry Association announced that a new milestone has been reached in the number of recording jurisdictions that are electronically recording documents. Read on for more details.
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Five indicted for defrauding lenders
Posted Date: Monday, September 16, 2019
Five defendants were indicted with conspiracy to commit wire fraud and bank fraud in connection with a scheme to defraud mortgage lenders, including Fannie Mae and Freddie Mac and borrowers. Read on for more details.
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