Topics

The California General Assembly is considering a ban on private transfer fees that do not provide a direct benefit to the encumbered property. The topic of private transfer fees was a hot button topic a few years ago, with numerous states taking action and eventually the Federal Housing Finance Agency and Congress taking up the issue. Read on for more insight into the bill.

The National Settlement Services Summit (NS3) comes home to the Midwest for the 14th year of the annual conference that brings all parties of the real estate transaction together in one place. The conference is slated for June 6-8 in Detroit at the Detroit Marriott at the Renaissance Center. One thing that remains the same, though, is the ability for attendees to learn from top executives and companies representing the industry, with panels scheduled featuring leading underwriters, lenders and regulators. Read on for more about the top-quality speakers set to pass along their insights in June.

On April 11 and 12, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, appeared before Congress to give his first semi-annual report for the bureau. During his appearances before the House and the Senate, he provided more insight into his new direction, and asked Congress to take specific legislative actions. Read on for more details.

A Louisiana woman filed suit against the United States and others, alleging that the government improperly acquired a warranty easement deed over a portion of her property. The settlement agent she claimed conducted the transaction filed a motion for summary judgment of the claims against her. Read on for more details.

Several industry associations, including the American Land Title Association, American Escrow Association, Mortgage Bankers Association and Real Estate Services Providers Council, wrote a letter to members of Congress, voicing their support for H.R. 5266, the Financial Product Safety Commission Act of 2018, which would establish a five-person, bipartisan commission to replace the current sole director governance structure of the Consumer Financial Protection Bureau. Read on for more details.

A Rocklin, Calif., man was sentenced to time in prison for wire fraud involving financial institutions. Read on for more details.

Technology is moving at an exponential speed, and along with that comes cyberattacks and new ways to protect your company. During the Property Records Industry Association’s Winter Symposium, Joseph Raczynski, technologist, Large Law Firm & Government, Thomson Reuters, broke down these various topics and shared his insight with attendees. Read on to find out what he told everyone.

After purchasing property in Hurricane, Utah, the new owner discovered that the plat map used in the transaction had a material defect, one of the lots partially overlapped another parcel. The plat map was amended, shrinking the overlapping lot and imposing additional development requirements on all of the lots the owner purchased. The owner filed a claim with his title insurer, which denied the claim. The owner then filed suit against the title insurer. Read on for more details.

The New York Department of Financial Services (DFS) has issued a consumer alert warning New Yorkers about the pitfalls of rent-to-own or land installment contracts, factors to consider before signing a contract, and how to get legal help if needed. Read on for more details.

The New York Department of Financial Services (DFS) has fined Nationstar Mortgage LLC $5 million for violations of state banking, stemming from the company’s failure to develop effective, scalable controls that could keep pace with its rapid growth. As a result of DFS examinations, Nationstar has made restitution of $7 million to New York borrowers. Read on for more details.