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Louisiana issues reports on eSignatures, eNotary issues
Posted Date: Wednesday, April 12, 2017
The Louisiana State Law Institute Electronic Signatures Study Group recently submitted two reports to the Louisiana Legislature, one on the acceptance by clerks of court of electronic signatures and one on the adoption of an electronic notary law.
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North Carolina introduces bill to cure record errors
Posted Date: Monday, April 10, 2017
The North Carolina General Assembly has introduced a bill that would clarify the process for correcting nonmaterial errors in recorded instruments of title and create a curative procedure for obvious description errors in documents of title. Read on for more details.
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Plaintiff sues title company over mortgage fraud
Posted Date: Monday, March 20, 2017
A plaintiff who was the victim of mortgage fraud filed suit against his title insurance company, charging that the company was complicit in, and profited from, the mortgage fraud scheme. The title company sought to dismiss the complaint, saying the plaintiff failed to plead any facts which give rise to a cause of action. Read on to see how the Missouri court ruled.
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Couple seeks injunctive relief against non-judicial foreclosure
Posted Date: Wednesday, March 15, 2017
An Oregon couple sued several parties to a non-judicial foreclosure, seeking injunctive relief against the non-judicial foreclosure and declaratory judgment that MERS and any lender by assignment from MERS lacks the legal capacity to foreclose. Read on for more details.
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Must title company defend potential claims?
Posted Date: Wednesday, March 15, 2017
A company that owned property in Southport, Maine, filed suit against its title company, arguing that a deposition and affidavits provided in litigation could constitute a potential claim for a public prescriptive easement over property covered under the policy. Read on for more details.
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Court reviews application of res judicata, collateral estoppel
Posted Date: Wednesday, March 22, 2017
A bank and title insurer appealed a decision in Maryland state court where the judge ruled that res judicata and collateral estoppel barred their suit to reform a couple’s mortgage. The couple had defaulted on the loan, but the wife did not sign the deed and promissory note as required because they were tenants by the entireties, despite the fact that the husband was the sole recorded borrower. Read on for more details.
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Cordray says insurance regulation outside CFPB purview
Posted Date: Monday, April 10, 2017
During a hearing in front of the House Financial Services Committee, which lasted more than five hours, Consumer Financial Protection Bureau Director Richard Cordray was asked about many things. In one brief but important exchange with Rep. Dennis Ross (R-Fla.), Rep. Ross asked Cordray about the regulation of insurance. Read on for more details.
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Senate, House introduce PACE legislation
Posted Date: Wednesday, April 12, 2017
A bipartisan group of senators and representatives introduced legislation that would protect low-income and elderly Americans from risky financial products related to the Property Assessed Clean Energy Program. Read on for more details.
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Rhode Island considers real estate conveyance bill
Posted Date: Monday, April 3, 2017
The Rhode Island General Assembly is considering a bill that would require all transfers of a mortgage interest on residential property to be recorded “so as to provide a clean chain of title for consumers to track the owner of their mortgage loans.” Read on for more details.
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North Carolina introduces deed solicitation bill
Posted Date: Wednesday, April 12, 2017
The North Carolina General Assembly introduced legislation that would regulate the solicitation of a fee in exchange for copies of recorded documents. It would also clarify the fees charged by the register of deeds for recording instruments subsequent to deeds of trust and mortgages. Read on for more details.
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Maryland considers notice of foreclosure statute
Posted Date: Monday, April 3, 2017
The Maryland General Assembly is considering a bill that would require anyone authorized to sell residential property subject to foreclosure to file a notice of foreclosure with the state Department of Labor, Licensing and Regulation. Read on for more details.
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Ohio woman charged with escrow theft
Posted Date: Monday, April 3, 2017
A Massillon woman was charged with defrauding financial institutions out of more than $2 million by having escrow funds on home purchases deposited into her personal account. Read on for more details.
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Consent order issued against California escrow company
Posted Date: Monday, April 3, 2017
The Nevada Division of Mortgage Lending issued a consent order to cease and desist violating state law against a California escrow company who had conducted escrow business in Nevada before receiving a license to do so. Read on for more details.
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North Dakota governor signs recording bill
Posted Date: Wednesday, April 12, 2017
North Dakota Gov. Doug Burgum signed legislation that will change the amount of fees charged by a county recorder for filing mortgage disclosures. Read on for more details.
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Man sentenced for mortgage fraud in Puerto Rico
Posted Date: Wednesday, April 12, 2017
A man was sentenced to prison, fined and ordered to pay restitution after pleading guilty to mortgage fraud in Puerto Rico .Read on for more details.
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ALTA urges CFPB to issue consumer wire fraud alert
Posted Date: Monday, April 10, 2017
Worried about the potential impacts wire fraud scams could have in what could be the busiest spring homebuying season in a decade, the American Land Title Association wrote to the Consumer Financial Protection Bureau urging it to issue a consumer alert to warn homebuyers of these potential schemes. Read on for more details.
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Maryland title agent business entity licensing bill moves forward
Posted Date: Monday, April 10, 2017
A bill that would amend the statute governing title agent licensing for business entities is moving through the legislative process, having recently been returned passed to the Senate from the House. Read on for more details.
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New York couple convicted of bank fraud, Medicaid fraud
Posted Date: Monday, April 10, 2017
A New York couple was convicted of bank fraud, conspiracy to commit bank fraud and Medicaid fraud by a jury in federal court in Central Islip. The fraud was designed to, and did, defraud Bank of America of over half a million dollars. Read on for more details.
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1031 exchangers sue LandAmerica successors for RICO scheme
Posted Date: Monday, April 3, 2017
A couple sued the successors of LandAmerica 1031 Exchange Services Inc. for alleged violations of the Racketeer Influenced and Corrupt Organizations Act, stemming from their unsuccessful attempt to effectuate a tax-deferred land exchange. Read on for more details.
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