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  Seventh Circuit finds attorney personally liable for fraud Wednesday, August 21, 2019 The 7th U.S. Circuit Court of Appeals found an attorney who acted as the seller’s representative as well as the owner of a title agency used in fraudulent transactions personally liable to a bank that fell victim to a mortgage fraud scheme. Read on for more details. |
 Parties dispute priority, equitable subrogation in adversary proceeding Wednesday, August 21, 2019 The holder of a lien on property filed an adversary proceeding against the holders of other deeds of trust, as well as the owners of the property who were filing for Chapter 11 bankruptcy. The bankruptcy proceeding was dismissed and the lien holder paid for certain deeds of trust to be released. When it went to foreclose on the property, the owners, having acquired one of the other liens on the property, filed suit, arguing that the lien holder did not have the right to foreclose. Read on for more details. |
California adopts recording preservation legislationWednesday, August 21, 2019 Calif. Gov. Gavin Newsom signed legislation authorizing the use of a $1 recording fee to restore and preserve county recorders’ permanent archival microfilm, implement and fund a county recorder archive program, or implement and maintain or utilize a trusted system for the permanent preservation of recorded document images. Read on for more details.
Lender sues title company, attorney for alleged role in fraud 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.
Amended title insurance rate regulation now in effectMonday, August 19, 2019 The Colorado Division of Insurance recently amended Regulation 8-1-1, regarding title insurance rates and fees. The regulation, which is meant to ensure that title insurance rates and fees are not excessive, inadequate or unfairly discriminatory, went into effect Aug. 15. Read on for more details.
 Buyer, seller dispute responsibility for tax liens 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.
Mortgagor seeks rescission of loan Monday, August 19, 2019 During the course of his marriage, a mortgagor and his now ex-wife transferred title to their home between them. At the time of their divorce, the property was titled to the wife, but was awarded to the husband. To pay off the deeds she had placed on the property, and pay her a money judgment of 100,000, he took a mortgage out on the property. Within three years, he sought to rescind that loan under the Truth in Lending Act. Read on for more details.
Naples, Fla., victim of spear phishing attackMonday, August 19, 2019 Earlier this month, Naples, Fla., officials reported that the city was the victim of a spear phishing attack that resulted in the theft of $700,000 associated with a construction project currently taking place in the city. Florida CFO Jimmy Patronis warned other local governments, business owners and consumers to be on guard for these phishing schemes. Read on for more details.
 SEC investigating First American data exposure Wednesday, August 14, 2019 The Securities and Exchange Commission is investigating the data exposure discovered at First American Financial Corp. An inquiry letter was provided to the real estate developer that initially discovered the exposure. Read on for more details.
 Third Circuit rules in defense of encroachment suitWednesday, August 14, 2019 The owner of property that was part of a dispute over an encroaching wall sued its title insurer for failing to defend the litigation. The case eventually went before the Third U.S. Circuit Court of Appeals. Read on for more details.
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