Industry News

There is lots of information out there about the risk of cyberfraud, how to avoid it, requirements to protect your company against it, and what the latest scams are that you need to look out for. But happens when you get that 3 a.m. phone call that your system has been breached? What is your first step then?

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.

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.

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.

A new milestone has been reached in the number of recording jurisdictions that are electronically recording documents. As of March 31, 2018, over 83 percent of the population in the United States resides in a recording jurisdiction that offers electronic recording, representing 50 percent of the nation’s 3,600 recording jurisdictions. Read on for more details.

The Property Records Industry Association (PRIA) announced the release of its latest whitepaper on GIS and Land Records Integration. Although Geographic Information System (GIS) is a relatively new tool for anyone interested in land records, the recording of property records has been in existence since records were created. The integration of these two systems can help to create modern property record systems.

The National Association of Independent Land Title Association has issued a paper entitled Notary Legislation: What to Know? Where do We Stand? The paper discusses the differences between the various state legislations in place and the potential impact of those types of legislation. Read on for more from the paper.

The Property Records Industry Association (PRIA) has released a position statement on electronic and remote notarization, which states “PRIA supports the timely adoption of legislation and administrative rules that encourage and facilitate the use of electronic notarization. We believe any future updated statutes or regulations should provide guidance regarding: (1) electronic notarization; (2) traditional in-person notarization, and (3) the emerging practice of online appearance, sometimes referred to as remote notarization. We further support the inclusion of private and public sector stakeholders in the rulemaking process.”

Associations representing a variety of industries wrote a letter to the U.S. House Energy and Commerce Committee urging it to enact national data breach legislation to protect consumers. Read on for more details.

The New York Assembly Standing Committee on Insurance is holding a public hearing to examine new title insurance regulations in the state. The hearing comes after several legislators wrote to the state’s Department of Financial Services seeking a delay in implementation of the regulation for six months and the department’s subsequent announcement that it would delay enforcement of portions of the new regulation until February. Read on for more details.