News By Edition

California Attorney General Xavier Becerra on Aug. 14, 2020, announced approval by the Office of Administrative Law of final regulations under the California Consumer Privacy Act. The approved regulations go into effect immediately. Read on for more details.

Ohio Department of Insurance Director Jullian Froment announced the appointment of a new senior policy advisor. Read on for more details.

It’s safe to say that the 16th version of the National Settlement Services Summit (NS3) will be unlike any before. So it is fitting that the show is headlined by the first speaking appearance by Zillow at NS3. Ryan Berry, the senior vice president, central operations at Zillow Group, keynotes NS3, which runs Sept. 1-3. Read on for details about the conference, its featured speakers, and the networking opportunities to come.

Missouri Gov. Michael Parson issued Executive Order 20-13, which among other things extends Executive Order 20-08, which suspends the requirement of personal appearance before a notary public by authorizing the use of audio-video technology, until Dec. 1. Read on for more details.

A property owner and a homeowners association dispute whether property the owner acquired for development in 2013 was subject to covenants, conditions and restrictions. The case eventually went before the Court of Appeals of Washington. Read on for more details.

The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to delay the implementation date of their adverse market refinance fee until Dec. 1, 2020 and to exempt refinance loans with loan balances below $125,000. Read on for more details.

The California Department of Insurance launched remote testing for license examinations, providing more flexibility and opportunities to thousands of insurance license candidates in light of existing COVID-19 social distancing requirements and local public health orders. Read on for more details.

Ohio Gov. Mike DeWine announced the resignation of Jillian Froment, director of the state’s department of insurance, as well as the appointment of her interim replacement. Read on for more details.

After the insurer he worked for merged with another, the former chief operating officer and general counsel left to start a new title insurer. His former employer filed suit and won an award. The former employee later filed a Chapter 7 bankruptcy petition and the insurer filed an adversary suit to exclude its award from the bankruptcy. The case eventually went before the U.S. Bankruptcy Appellate Panel of the 10th Circuit. Read on for more details.

The CEOs of Fannie Mae and Freddie Mac wrote a letter reacting to the announcement that they will be implementing a pricing adjustment to be paid by mortgage lenders for refinance mortgages acquired by the GSEs. Read on for more details.

The owners of property on Bainbridge Island, Wash., filed suit against their title insurer when the insurer denied defense in a dispute their neighbors brought against them alleging ownership of a 10-foot strip of land at the edge of the owners’ property. Read on to find out what the Court of Appeals of Washington decided and why one judge dissented.

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued a joint statement clarifying that Bank Secrecy Act (BSA) due diligence requirements for customers who may be considered “politically exposed persons” (PEPs) should be commensurate with the risks posed by the PEP relationship. Read on for more details.

The managing partner of a realty company was indicted for wire fraud and bank fraud tied to $28 million in bank loans. Read on for more details.

The Hamilton County, Ind., Recorder’s Office has rolled out a new program to protect residents from property theft and fraud.

After a couple purchased property in Whittier, Calif., the holder of two abstracts of judgment against the seller contacted the buyers, their lender and their title company, informed them of the judgments and requesting they be paid. The holder argued that the buyers had constructive notice of the abstracts because the seller used variations of his name on multiple title and sale documents. Read on for more details.

After a planned merger for a company to acquire a title insurer failed to close, the parties filed suit, disagreeing who is liable for breaching the merger agreement. The district court addressed the defendants’ motion arguing that the plaintiff lacks standing to pursue its claims. Read on for more details.

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages to encourage innovation and help ensure access to responsible, affordable credit in the mortgage credit market. Read on for more details.

Kent Sullivan notified Gov. Greg Abbott that he will resign as Texas insurance commissioner in September to return to the private sector. Read on for more details.

The Council of the District of Columbia confirmed Karima Woods as the commissioner of the District of Columbia Department of Insurance, Securities and Banking. She had been acting commissioner since January 2020. Read on for more details.

The Sarasota County, Fla., Sheriff’s Office arrested a man in connection with fraudulently selling a Sarasota home and opening a bank account using stolen identification information. Read on for more details.

The U.S. Government Accountability Office (GAO) issued a report providing insight and recommendations regarding the Financial Crimes Enforcement Network’s procedures for implementing and evaluating geographic targeting orders, looking at its real estate GTO. Read on for more details.

After a new adverse market fee for Fannie Mae and Freddie Mac refinances was announced, a coalition of real estate trade groups, including the American Land Title Association, Mortgage Bankers Association, National Association of Realtors and Real Estate Services Providers Council issued a statement against the action. Read on for more details.

The National Association of Insurance Commissioners issued a consumer insight on buying title insurance. Read on for more details.

A Houston, Texas, man was sentenced in Manhattan federal court for conspiring to commit wire fraud as part of a wide-ranging, international business email compromise syndicate. Read on for more details.