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Court determines right of subrogation in lien dispute
Posted Date: Wednesday, April 22, 2020
A national title insurer filed suit against a property owner for breach of contract, seeking to recover funds it paid to discharge a first priority mortgage on property in Boston. It argued it was subrogated to the lender’s right to pursue a claim for breach of a provision of the second mortgage requiring the property owner to discharge the first priority mortgage. The property owner disputed the title company’s subrogation rights. Read on for more details.
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Pennsylvania signs bill allowing temporary use of RON
Posted Date: Wednesday, April 22, 2020
As of April 20, when Pennsylvania Gov. Tom Wolf signed SB 841, notaries are temporarily authorized to use RON. The authorization will expire 60 days after the termination or expiration of the COVID-19 disaster emergency. Read on for more details.
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Illinois expands use of RON, provides guidance
Posted Date: Wednesday, April 22, 2020
To further eliminate barriers that hinder virtual or remote real estate closings and all related financial transactions in Illinois during the ongoing COVID-19 pandemic, the governor’s office, the secretary of state’s office, and the Illinois Department of Financial and Professional Regulation have expanded how real-time electronic technologies may be utilized. The offices have also provided guidance for remote notaries and consumers. Read on for more details.
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Policy holder seeks indemnity in property dispute
Posted Date: Wednesday, April 22, 2020
After moving into property in Berkeley County, W.Va., the owner blocked a neighbor’s access to the road. When the neighbor sued, the owner sought indemnity from his title insurer. The title insurer denied the request. The owner filed suit against the title insurer and the case eventually went before the West Virginia Supreme Court of Appeals. Read on for more details.
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Texas suspends appearance for certain notarial acts
Posted Date: Wednesday, April 22, 2020
Texas Gov. Greg Abbott suspended certain statutes concerning appearance before a notary public to execute a self-proved will, a durable power of attorney, a medical power of attorney, a directive to physician, or an oath of an executor, administrator, or guardian. Read on for more details.
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MISMO establishes RON certification program
Posted Date: Wednesday, April 22, 2020
MISMO, the mortgage industry’s standards organization, announced a new remote online notarization (RON) certification program for RON providers and mortgage industry participants. Read on for more details.
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Connecticut Bar Association issues UPL whitepaper
Posted Date: Monday, April 20, 2020
In October, 2019, a law establishing real estate closings as the practice of law went into effect. In April 2020, the Connecticut Bar Association released a whitepaper providing guidance on which aspects of the real estate closing were considered the practice of law. Read on for insight from the whitepaper.
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Maine authorizes notarizations done remotely
Posted Date: Monday, April 20, 2020
Maine Gov. Janet Mills authorized remote, though not electronic, notarization. Read on for further requirements in Maine to perform remote notarizations.
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Court rules with title insurer in case involving HOA foreclosure
Posted Date: Monday, April 20, 2020
A lender whose property was sold by a homeowners association in foreclosure sued its title company for failing to defend it in a lawsuit to defend its first-lien position after being granted quiet title.
The Nevada District Court looked to two recent cases it ruled upon in determining the lender’s claims did not fall within the coverage provisions of the title insurance policy.
Read on for details of the case.
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New Jersey signs RON bill
Posted Date: Monday, April 20, 2020
New Jersey Gov. Phil Murphy signed legislation to allow remote notarial acts during the Public Health Emergency and State of Emergency declared by the governor in Executive Order 103 of 2020. Read on for more details.
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Delaware issues order on RON
Posted Date: Monday, April 20, 2020
Delaware Gov. John Carney has issued an 11th modification of his declaration of a state of emergency for the state of Delaware due to a public health threat, authorizing the use of remote notarizations, among other things. Read on for more details.
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Tennessee authorizes remote notarization
Posted Date: Monday, April 20, 2020
Tennessee Gov. Bill Lee issued an order permitting the use of remote notarization and remote witnessing in the state. Read on for more details.
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Title company disputes duty to defend
Posted Date: Wednesday, April 15, 2020
After a property owner bought property and sold it to an investor the next day, the seller sued alleging fraud claims.
The property owner argued its title company should defend and indemnify the buyer against potential losses. The title company disagreed and their dispute went to court.
Read on for details from the case in the District of Columbia.
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Missouri allows audio-video technology for notarization
Posted Date: Wednesday, April 15, 2020
Missouri Gov. Mike Parson issued Executive Order 20-08 suspending a statutory requirement that a notary must conduct notarizations of official documents while the signer appears personally in front of him or her, allowing for the use of audio-video technology to complete this requirement. Read on for more details.
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Freddie, Fannie issue additional bulletin, FAQs
Posted Date: Wednesday, April 15, 2020
Freddie Mac and Fannie Mae have each provided continued guidance on the use of remote online notarizations and remote closings, through a bulletin and additional FAQs, respectively. Read on for more details.
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New Hampshire bulletin provides data security guidance
Posted Date: Wednesday, April 15, 2020
The New Hampshire Insurance Department recently issued additional guidance regarding implementation of the state’s Insurance Data Security Law, which went into effect Jan. 1. Read on for more details.
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Colorado issues title-related COVID-19 notice
Posted Date: Wednesday, April 15, 2020
The Colorado Division of Insurance issued a consumer information recommending consumers to request closing protection letters and ensure social distancing during their real estate transactions. Read on for more details.
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ALTA names new Public Affairs SVP
Posted Date: Wednesday, April 15, 2020
The American Land Title Association announced the appointment of a new senior vice president of Public Affairs. Read on for more information on the new hire.
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Nebraska names deputy director of insurance
Posted Date: Wednesday, April 15, 2020
Nebraska Director of Insurance Bruce Ramge announced the appointment of a new deputy director and general counsel. Read on for more about the appointment.
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Pennsylvania issues title, settlement agent guidance
Posted Date: Monday, April 13, 2020
Pennsylvania Secretary of State Kathy Boockvar issued a memorandum providing revised limited guidance for appraisers, notaries, title companies and home inspectors for transactions begun prior to March 18, 2020. Read on for more details.
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Treasury, IRS extends deadlines, including 1031 exchanges
Posted Date: Monday, April 13, 2020
The U.S. Department of the Treasury and the Internal Revenue Service announced they are extending the deadline for many administrative acts under the tax law as well as the tax filing and payment deadlines for fiscal year businesses, tax-exempt organizations and certain estates and trusts. This includes 1031 exchanges, which industry associations addressed in a letter to the Treasury Department and IRS, requesting a deadline to like-kind exchanges that are currently underway. Read on for more details.
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Fannie, Freddie FAQs address RON, title issues
Posted Date: Monday, April 13, 2020
In Frequently Asked Questions updated April 8 and April 10, 2020, respectively, Fannie Mae and Freddie Mac addressed several FAQs on remote online notarization and title issues. Read on for more details.
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Governor signs Virginia kickback prohibition
Posted Date: Monday, April 13, 2020
Virginia Gov. Ralph Northam signed a bill that creates a prohibition against payment or receipt of settlement services kickbacks, rebates, commissions and other payments. Read on for more details.
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Seller sues agent after unsuccessfully suing insurer
Posted Date: Monday, April 13, 2020
After unsuccessfully filing claims against a title insurer in state court, the seller of property filed suit in federal court against the title agent in the transaction, which had not been party to the state court action. The case eventually went before the 10th U.S. Circuit Court of Appeals.
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Title agent sentenced for stealing from employer
Posted Date: Monday, April 13, 2020
A Dallas title agent was sentenced via teleconference to 46 months in federal prison for her role in a $1.4 million real estate title insurance scheme. Read on for more details.
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