Legislative Developments

Several trade associations, including the American Bankers Association, American Escrow Association, American Land Title Association, Mortgage Bankers Association and Credit Union National Association, wrote a letter to the Senate urging them to support the TRID Improvement Act of 2018, which amends RESPA to allow the accurate disclosure of title insurance premiums. Read on for more details.

The California General Assembly has made permanent a law that sets forth a procedure for suspending and closing a home equity line of credit in anticipation of a real estate transaction involving the property that is the collateral for the loan. Read on for more details.

North Carolina Gov. Roy Cooper signed a bill to regulate the solicitation of a fee in exchange for copies of recorded documents, as well as make corrections and amendments to various statutes impacting real property ownership. Read on for more details.

Both houses of the California General Assembly unanimously passed legislation — quickly signed by the governor — that creates sweeping data privacy legislation similar to the General Data Protection Regulation (GDPR) that passed in the European Union. Read on for more details.

The New Jersey General Assembly is considering legislation that would exempt handwritten signatures from public disclosure and require redaction of handwritten signatures from documents when they are posted on the Internet. Read on for more details.

North Carolina Gov. Roy Cooper signed legislation to change the deposit requirements and statutory premium reserve requirements title insurers in the state need to meet. Read on for more details.

The New York Senate passed a bill that would prohibit the superintendent of the New York State Department of Financial Services from establishing fees for ancillary or discretionary non-insurance services provided by title insurance agents. The bill now goes to the New York Assembly for its consideration. Read on for more details.

A bill that would allow for remote notarization in Michigan has passed both chambers of the state legislature. It now awaits the governor’s signature. Read on for more details.

The North Carolina General Assembly is considering a bill that would regulate the solicitation of a fee in exchange for copies of recorded documents, as well as make corrections and amendments to various statutes impacting real property ownership. Read on for more details.

Seventeen trade organizations, including the American Land Title Association, Mortgage Bankers Association, National Association of Realtors and the Real Estate Services Providers Council Inc., wrote to Rep. Sean Duffy and Rep. Ed Perlmutter, offering their support for the Give Useful Information to Define Effective Compliance Act (GUIDE Act), H.R. 5534. Read on for more details.