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California AG urges Congress against remote notarization proposal
Posted Date: Wednesday, June 17, 2020
California Attorney General Xavier Becerra wrote a letter to the chairman and ranking member of the House Judiciary Committee, voicing his concerns regarding proposals for remote notarizations across the country. The California Land Title Association earlier had written a letter to California Gov. Gavin Newsom, requesting an emergency executive order recognizing the validity of legally remotely notarized documents. Read on for more details.
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Governor signs Louisiana title producer legislation
Posted Date: Wednesday, June 17, 2020
Louisiana Gov. John Bel Edwards signed legislation to provide qualification and licensing requirements for title insurance producers. The bill will go into effect Jan. 1, 2021. Read on for more details.
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Industry, regulatory association provide CFPB taskforce with perspectives
Posted Date: Wednesday, June 17, 2020
In March, the Consumer Financial Bureau issued a request for information to assist the Taskforce on Federal Consumer Financial Law with recommendations on harmonizing, modernizing and updating federal consumer financial laws. Several industry and regulatory associations responded to the request, including the American Land Title Association, American Escrow Association and the Conference of State Bank Supervisors. Read on for more details.
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Missouri extends remote notarization order
Posted Date: Wednesday, June 17, 2020
Missouri Gov. Michael Parson extended the authorization of remote notarizations until Aug. 28, unless extended. Read on for more details.
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Pennsylvania to offer remote license testing
Posted Date: Wednesday, June 17, 2020
Pennsylvania Insurance Commissioner Jessica Altman announced the availability of a remote testing option for insurance license exams. Candidates can opt for remote testing beginning July 1, 2020. Read on for more details.
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New Jersey considers RON revision, eSignature authorization
Posted Date: Monday, June 15, 2020
The New Jersey Legislature is considering a bill that would revise the law concerning the qualifications and duties of notaries public and other notarial officers, as well as authorizing the use of electronic signatures. The new law comes nearly two months after the governor signed legislation allowing the use of remote electronic notarizations during the Public Health Emergency and State of Emergency declared by the governor. Read on for more details.
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Lender sues insurer over reservation of county right-of-way
Posted Date: Monday, June 15, 2020
The Court of Appeals of South Carolina recently determined whether a reservation of a right-of-way on an official county map constitutes a defect in or encumbrance on the title to the affected land, or renders its title unmarketable, and therefore comes under the coverage of title insurance. The title insurer denied a lender’s claim and the lender sued for breach of contract and breach of the covenant of good faith and fair dealing. Read on for more details.
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Beazley reports 25 percent increase in ransomware in Q1
Posted Date: Monday, June 15, 2020
Specialist insurer Beazley has reported a 25 percent spike in ransomware attacks in the first quarter of 2020 versus Q4 2019, based on incidents reported to in-house breach response team Beazley Breach Response Services. Read on for more details.
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North Carolina considers deed registration legislation
Posted Date: Monday, June 15, 2020
The North Carolina General Assembly is considering a bill that would provide that the register of deeds does not need to verify the capacity or authority of the person listed as the drafter of a deed of deed of trust. Read on for more details.
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New York DFS makes remote testing available
Posted Date: Monday, June 15, 2020
The New York State Department of Financial Services (DFS) announced that remote online proctored testing will be available starting June 15 for all 28 New York insurance licensing exams. Read on for more details.
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NAIC Summer National Meeting goes virtual
Posted Date: Monday, June 15, 2020
Given the ongoing health challenges associated with holding large in-person meetings in the midst of the COVID-19 pandemic, NAIC officers, in consultation with NAIC members, have decided to hold the Summer National Meeting in a virtual format. Read on for more rom the plan.
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Maryland Insurance Administration issues closing assistance bulletin
Posted Date: Wednesday, June 10, 2020
After receiving reports that some sales contracts require buyers to purchase title insurance from a specific title company in order to receive seller closing assistance, the Maryland Insurance Administration issued a bulletin reminding industry members that this is prohibited by Maryland law. Read on for more details.
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Illinois passes remote witnessing, notarization legislation
Posted Date: Wednesday, June 10, 2020
The Illinois General Assembly passed a bill giving statutory approval to the notarization and witness guidelines provided in Illinois Executive Order 2020-14 as part of SB 2135, Government Emergency Administration bill. The bill now awaits the governor’s signature. Read on for more details.
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Vermont issues Security Breach Notice Act Bulletin
Posted Date: Wednesday, June 10, 2020
The Vermont Department of Financial Regulation issued Bulletin No. 4 to notify entities regulated by the department of changes to the Security Breach Notice Act produced by the enactment of Act 89, an Act Relating to Data Privacy and Consumer Protection. The changes go into effect July 1. Read on for more details.
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Oklahoma adds director of government affairs
Posted Date: Wednesday, June 10, 2020
Oklahoma Insurance Commissioner Glen Mulready announced the addition of a new director of government and community affairs and an assistant commissioner for licensing services. Read on for more details.
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CFPB releases TRID title insurance disclosure factsheet
Posted Date: Wednesday, June 10, 2020
The Consumer Financial Protection Bureau released a factsheet on how to disclose title insurance on the Loan Estimate and Closing Disclosure. This includes when a negative owner’s title insurance cost disclosure is appropriate. Read on for more details.
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Colorado considers remote notarization bill
Posted Date: Monday, June 8, 2020
The Colorado General Assembly is considering the Remote Notaries Protect Privacy Act, concerning an authorization for notaries public to perform notarial acts using audio-video communication. Read on for more details.
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Texas governor extends temporary allowance of RIN
Posted Date: Monday, June 8, 2020
Texas Gov. Greg Abbott extended the suspension of a statute concerning appearance before a notary public to acknowledge real estate instruments such as mortgages. Read on for more details.
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Former mortgage company president indicted for fraud
Posted Date: Monday, June 8, 2020
The former president of an Oklahoma City, Okla., mortgage lending and loan servicing company was charged with defrauding two local banks, Fannie Mae and others. Read on for more details.
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Jury indicts Michigan real estate developer for fraud
Posted Date: Monday, June 8, 2020
A federal grand jury in Grand Rapids, Mich., returned an indictment charging a Michigan businessman with tax evasion, filing false documents with the Internal Revenue Service (IRS), making false statements to IRS Criminal Investigation (IRS-CI) agents and mortgage fraud. Read on for more details.
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