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Louisiana Supreme Court affirms unmarketable title ruling
Posted Date: Monday, October 1, 2018
The Louisiana Supreme Court recently heard a case regarding marketability of title a woman purchased with her brother-in-law. The woman discovered later, after her brother-in-law transferred his interest to the property to her, that several judgments and liens against her brother-in-law attached to the property. When she sought coverage from her title insurer, the title insurer denied her claim. The appellate court reversed a lower court ruling that the title was marketable before the case was appealed to the state supreme court. Read on for more details.
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Title agency sues Indiana DOI for alleged discrimination
Posted Date: Wednesday, October 10, 2018
An Ohio title agency licensed to do business in Indiana filed suit against the Indiana Department of Insurance and its commissioner, Stephen Robertson, after being charged with violations of Indiana insurance law. The owners of the agency claimed that their constitutional rights under the Equal Protection Clause of the Fourteenth Amendment were violated by the department. Read on for more details.
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Live coverage: ALTA One kicks off
Posted Date: Wednesday, October 10, 2018
Beginning Oct. 9, industry members from around the country came together at the JW Marriot in Los Angeles for four days of collaboration and education. The Legal Description is in attendance, bringing you back all the latest.
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Fraud over lien leads to question for Florida Supreme Court
Posted Date: Wednesday, October 10, 2018
A Florida case involving the failure to discover a prior lien on a mortgage that was foreclosed upon led to parties disputing unjust enrichment, and the district court of appeals to certify a question of great public importance to the state supreme court. In reversing a portion of the trial court decision, the District Court of Appeal of Florida, Fifth District, found that the defendants were not unjustly enriched because justifiable reliance was not an essential element of fraudulent misrepresentation. The court certified to the state supreme court a question of whether its most recent ruling in the matter overruled its previous decisions on the matter.
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Couple appeals judgment over Florida notification
Posted Date: Wednesday, October 10, 2018
A couple whose building code violations led to a lien against their home sued the county for violations of Florida state code on notification of the violations and hearings. On appeal, the Eleventh Circuit court examined whether the district court erred in granting summary judgment because there is a genuine dispute as to whether the county complied with the statute. Read on for more.
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Alabama data breach notification law details compliance
Posted Date: Wednesday, October 10, 2018
Alabama became the final state to pass a data breach notification bill earlier this year when Gov. Kay Ivey signed SB 318 into law. The bill will require covered parties and third-party agents to implement and maintain “reasonable security measures” to protect personally identifying information (PII). It also details the actions required to notify harmed individuals following a breach. Read on for more.
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Couple seeks quiet title when promissory note can’t be produced
Posted Date: Wednesday, October 10, 2018
A Maryland couple brought a pro se lawsuit against their servicer and other parties to gain quiet title to their property, saying that parties were unable to produce promissory note that would allow them a lien on the mortgage. The district court in Maryland examined the couple’s claims of violations of three federal statutes and found their allegations not within the statutory requirements of the acts, ruling in favor of the servicer and other defendants. Read on for details of the decision.
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Senators request study on money laundering
Posted Date: Monday, October 8, 2018
In advance of a Senate Banking Committee hearing – which now has been postponed indefinitely – Sens. Chris Van Hollen (D-Md.) and Sheldon Whitehouse (D-R.I.) wrote to ask the Government Accountability Office (GAO) to study the impact of Bank Secrecy Act (BSA) laws on the real estate sector. Read on for more details.
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Mortgage officer sues for discrimination after firing
Posted Date: Monday, October 8, 2018
A home mortgage consultant with Wells Fargo Home Mortgage who was fired for taking place in a referral scheme with Patriot Title that violated RESPA sued Wells, claiming his termination unlawfully targeted him because of his race and gender.
The district court in Pennsylvania sought to determine whether the mortgage consultant could make a prima facie showing of intentional discrimination.
The court ruled that the plaintiff could neither make a prima facie showing, nor cast reasonable doubt on the company’s reason for dismissal.
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Homeowner sues over implied contractual indemnity
Posted Date: Monday, October 8, 2018
After a homeowner settled with neighbors over allegations that included intentional trespass, negligent trespass, negligence and private nuisance, he filed suit for implied contractual indemnity against his contractor.
The contractor claimed that to establish he was also responsible for injuring Jaffe’s neighbors, the homeowner must show they had “a joint legal obligation to” the neighbors.
The California district judge looked to determine whether indemnity may exist where the indemnitor commits a wrongful act that causes damage to a third party.
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California law brings new foreclosure requirements
Posted Date: Monday, October 8, 2018
California Gov. Jerry Brown recently signed into law a bill which provides requirements to be satisfied before the exercise of a power of sale under a mortgage or deed of trust in connection with foreclosure.
The bill, SB 818, was sponsored by state Sen. Jim Beall (D-15) and passed the Assembly and Senate by unanimous votes.
Among the provisions is a liability to borrowers for material violations of the provisions which would permit a court to award the greater of treble actual damages or specified statutory damages in cases of intention or reckless violations. Read on for more.
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Trust appeals ruling after ignoring three court deadlines
Posted Date: Monday, October 8, 2018
A business trust which was required to place $100,000 in escrow that would allow the transfer of title to a property did not deposit the funds by the date a trial court required.
The court entered judgment which extinguished the trust’s right to the property and directed a transfer to another party. The business trust appealed.
In an unpublished opinion, the Court of Appeal, Second District, Division I, in California affirmed the trial court’s judgment.
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Settlement attorney arraigned for mortgage fraud
Posted Date: Monday, October 8, 2018
Three New Jersey men – a real estate investor, a builder, and a real estate settlement attorney – were arraigned on multiple charges in connection with their alleged roles in a mortgage fraud scheme. Read on for more details.
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CFPB issues data request for information, report
Posted Date: Monday, October 1, 2018
The Consumer Financial Protection Bureau issued a report and Request for Information (RFI) regarding the bureau’s sources of data and how data is used. The report provides transparency into how the bureau collects and uses data and the accompanying RFI gives the public an opportunity to comment on those practices. Read on for more details.
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Defect Index shows potential impact of Florence
Posted Date: Monday, October 1, 2018
First American Financial Corp. released its First American Loan Application Defect Index for August 2018. In the report, First American Financial Corp. Chief Economist Mark Fleming noted that defect risk levels in the Carolinas were already trending up in recent months, and one should be on the lookout for further increases in risk in the markets impacted by the recent hurricane. Read on for more details.
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New Jersey attorney admits to large-scale scheme
Posted Date: Monday, October 1, 2018
A New Jersey attorney admitted running a large-scale mortgage fraud scheme that involved properties in Jersey City, Clifton, Union, and elsewhere in New Jersey and caused losses of millions of dollars. Read on for more details.
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