Topics

At the beginning of May, New York Gov. Andrew Cuomo introduced proposed regulations to “crack down on unscrupulous practices in the title insurance industry.” The rules would have a significant impact on industry members in the state, and potentially the country. Read on for more details.

A California man sued his lender and the title insurer who acted as trustee for the deed of trust, alleging that the parties did not have standing to foreclose and that the property had been improperly foreclosed upon. Read on for more details.

On May 24 the D.C. Circuit Court of Appeals heard oral arguments for the en banc hearing for PHH Corp. v. CFPB. Where are we in terms of RESPA Section 8 in light of the most recent developments in PHH Corp.? What are the practical impacts of Section 8(c)(2)? These are just a handful of questions that Ken Markison of the Mortgage Bankers Association and Loretta Salzano of Franzén and Salzano, P.C., will be tackling at the National Settlement Services Summit (NS3) in San Antonio.

Queens District Attorney Richard A. Brown announced that a 68-year-old Queens man has been charged with stealing more than $100,000 from an 83-year-old female friend who gave him power of attorney to act in her stead as her health was deteriorating and she was losing her eyesight. Among other things, he authorized the sale of property in Freeport, Long Island and transferred the proceeds to his own account. Read on for more details.

Maryland Gov. Larry Hogan signed legislation establishing an expedited foreclosure process for property that has been vacant and abandoned. Read on for more details.

The Florida Legislature has passed legislation that, among other things, amends the state’s property information report statutes. The bill awaits the governor’s signature. Read on for more details.

The former bookkeeper of an Oklahoma real estate management company pleaded guilty to check forgery and embezzlement. Read on for more details.

A deadlocked Illinois Supreme Court issued its opinion in a case brought by homeowners who alleged their title insurers make illegal kickback payments to attorney agents by splitting the title insurance premium with them. Read on for more details.

At the same time as there is an increase in email scams targeted at the settlement services industry, there is continued discussion, particularly at the state level, as to what is considered good funds and whether collecting good funds is enough to protect agents and their customers. During the National Settlement Services Summit, two leading escrow professionals will provide insights into the latest.

South Carolina Gov. recently signed a bill regarding time share reselling in the state. Among other things, the new law includes escrow requirements industry members should be aware of. Read on for more details.