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Texas adopts privacy amendments, creates council
Posted Date: Wednesday, June 12, 2019
The Texas Legislature has adopted a bill to amend its statute relating to the privacy of personal identifying information and breach notifications and created the Texas Privacy Protection Advisory Council. Read on for more details.
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NS3: Industry stars honored with OR awards
Posted Date: Wednesday, June 19, 2019
For the eighth year, October Research, LLC, presented its annual awards for leadership, innovation and philanthropy, with some of the brightest stars in the title industry recognized for their efforts.
CEO and Publisher Erica Meyer presented the awards Wednesday at the 15th annual National Settlement Services Summit (NS3) in Phoenix.
Read on for details on the winners and their accomplishments.
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NS3: Make a Child Smile helps Phoenix youth get school ready
Posted Date: Wednesday, June 19, 2019
Summer may be in its early stages, but Phoenix-area youths know the next school year is around the corner, and attendees at the National Settlement Services Summit (NS3) took time Tuesday to give them a hand.
The eighth annual “Make a Child Smile” community service event, sponsored by Adeptive Software, saw attendees put together book bags with school supplies to help for foster children through Arizona Helping Hands.
Read on for details from the event.
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Foreclosed borrower claims trustee not properly appointed
Posted Date: Wednesday, June 19, 2019
A foreclosed upon property owner filed suit to restrain a trustee’s sale of his property, claiming that the successor trustee who initiated the nonjudical foreclosure was not properly appointed. Read on for more details.
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Mortgage elimination owner convicted of conspiracy
Posted Date: Wednesday, June 19, 2019
A mortgage elimination company owner was convicted at trial of participating in a conspiracy to commit bank fraud, wire fraud, and mail fraud in connection with a fraudulent debt-elimination scheme to defraud homeowners and banks. Read on for more details.
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Nevada adopts discriminatory restriction amendment
Posted Date: Wednesday, June 19, 2019
The Nevada Legislature adopted amendments to the state’s law regarding discriminatory restrictions to the conveyance, encumbrance, leasing or mortgaging of real property in the state. Read on for more details.
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NS3 Live: Montgomery, independent underwriters kick off first day
Posted Date: Wednesday, June 19, 2019
The 15th edition of the National Settlement Services Summit (NS3) launched with Acting Deputy Secretary, and Federal Housing Administration (FHA) Commissioner and Assistant Secretary for Housing of the U.S. Department of Housing & Urban Development (HUD) Brian Montgomery highlighting many topics and issues.
The day also featured independent underwriter and regulator panels, as well as a regulatory compliance session.
Read on for a few details of what Montgomery shared with the audience, as well as what transpired from the other opening day sessions.
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NS3, industry go West for 15th Summit
Posted Date: Monday, June 17, 2019
The National Settlement Services Summit (NS3) marks its 15th anniversary this week by heading further west than it ever has. In the Valley of the Sun, the largest crowd yet will gather to hear from the best the industry has to offer over three days at the Arizona Biltmore in Phoenix.
More than 700 attendees representing 340 companies – both records for NS3 – will get to hear from a pair of keynote speakers, a Fireside Chat between title and banking icons, and 59 presenters on subjects affecting all parties in the real estate transaction.
Read on for a preview of what’s to come this week.
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House committee moves beneficial ownership bill forward
Posted Date: Monday, June 17, 2019
Among bills passed during a markup session, the House Financial Services Committee passed H.R. 2513, the Corporate Transparency Act of 2019, bipartisan legislation requiring corporations and limited liability companies to disclose their beneficial owners to the Financial Crimes Enforcement Network. Read on for more details.
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HUD, Quicken Loans reach resolution
Posted Date: Monday, June 17, 2019
The court-appointed mediator assigned to United States v. Quicken Loans (No. 2:16-CV-14050), announced the conclusion and resolution and related suit between Quicken Loans Inc., the United States and the U.S. Department of Housing and Urban Development related to Quicken Loans’ participation on HUD’s Federal Housing Administration lending program. Read on for more details.
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Title insurer seeks enforcement of settlement agreement
Posted Date: Monday, June 17, 2019
After filing an adversary proceeding to determine the dischargeability of a debt against a debtor, the parties engaged in settlement discussions and the title insurer argued they entered into a settlement agreement. When it went to the court to enforce the agreement, the debtor argued that the settlement never had been finalized. Read on for more details.
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Lender, trustee claim homeowner precluded from filing suit
Posted Date: Monday, June 17, 2019
After a man was discharged from bankruptcy, a notice of default and election to sell was executed against his California property. He filed suit against the trustee and lender two days before the planned sale of the property. The judge granted the defendants’ demurrers in that case, but three years later, he filed a similar case against the same defendants. The lender and trustee moved to dismiss. Read on for more details.
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Georgia insurance appointment makes history
Posted Date: Monday, June 17, 2019
Georgia Gov. Brian Kemp announced an historic appointment in naming Doraville Police Chief and Brigadier General John King the next Georgia Insurance Commissioner and Safety Fire Commissioner. King is the first Hispanic insurance commissioner and statewide constitutional officer. Read on for more details.
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Title agency argues fourth suit barred by res judicata
Posted Date: Wednesday, June 12, 2019
A law firm and its affiliated title agency moved to dismiss a third-party suit from the owner of New Orleans property, arguing that the owner’s claims are barred by res judicata. The owner was unable to develop the property as planned after third parties won a suit against it, enforcing a 1985 zoning ordinance. The owner had filed suit against the title company and/or law firm three previous times. Read on for more details.
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Foreclosed owner sues sheriff for title charges
Posted Date: Wednesday, June 12, 2019
After her property was foreclosed upon and sold at a sheriff’s sale, the former owner of Philadelphia property went about the procedure to receive the excess proceeds from the sale. When she got the proceeds, the attached breakdown of costs included a charge for a title insurance policy. She filed a class action complaint against the sheriff, alleging that the sheriff imposed procedures not required by state rule on her and other foreclosed upon homeowners. Read on for more details.
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Michigan considering foreclosure notice changes
Posted Date: Wednesday, June 12, 2019
The Michigan Legislature is considering a bill that would amend the Revised Judicature Act to require a notice of foreclosure by advertisement to include certain new information. Read on for more details.
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Title insurance rate bill signed by governor
Posted Date: Wednesday, June 12, 2019
Texas Gov. Greg Abbott signed legislation regarding hearings concerning title insurance rates and other matters relating to regulating the business of title insurance. The bill goes into effect Sept. 1. Read on for more details.
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Illinois businessman indicted for bank fraud, ID theft
Posted Date: Wednesday, June 12, 2019
A north Illinois suburban businessman has been indicted on bank fraud and identity theft charges for allegedly fraudulently obtaining millions of dollars in mortgage and vehicle loans and using stolen identities to secure credit from financial institutions. Read on for more details.
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Closing requirement bill passes Connecticut General Assembly
Posted Date: Monday, June 10, 2019
The Connecticut General Assembly has passed a bill to prohibit anyone other than attorneys from representing the legal interests of parties to real estate closings concerning real property in the state and prohibit mortgage lenders from inducing or requiring prospective mortgagors to use preferred attorneys or law firms to represent the mortgagors in proposed mortgage loan transactions concerning real property in Connecticut. Read on for more details.
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Title insurer seeks claim on guaranty of mortgage
Posted Date: Monday, June 10, 2019
The president of a company that purchased property in Houston filed a guarantee agreement promising to be responsible for his company’s obligation under the note if his company defaulted. The company defaulted and a superior lienholder foreclosed on the property. The lender’s title insurer, as the lender’s subrogee, sued the company president as guarantor of the loan. After the title insurer successfully moved for summary judgment, the company president appealed. Read on for the appellate court’s decision.
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Lender seeks reformation of deed
Posted Date: Monday, June 10, 2019
A lender filed suit against several parties, seeking to quiet title and reform a deed conveying real property on the grounds of mutual mistake when the agent of the buyer mistakenly was identified as the grantee on the deed rather that the buyer. Read on for more details.
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Illinois bill provides authority to discipline against referring business
Posted Date: Monday, June 10, 2019
The Illinois General Assembly is considering a bill that would give the secretary of Financial and Professional Regulation the authority to refuse to issue or suspend or revoke a certificate of authority, registration or license under the Title Insurance Act or discipline the holder of such for referring a consumer to another producer of title business on the express or implicit condition that the producer of title business to whom that consumer is referred use a particular title insurance company or title insurance agent. Read on for more details.
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New Jersey men admit to short sale fraud
Posted Date: Monday, June 10, 2019
Two Bergen County, New Jersey, men have admitted their respective roles in a scheme to defraud financial institutions and others. Read on for more details.
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