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January 25, 2021

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January 25, 2021
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Connecticut considers repealing attorney-closing requirement
Posted Date: Wednesday, January 13, 2021
Legislation was introduced in the Connecticut General Assembly to repeal a recent law requiring attorneys to perform real estate closings in the state. Read on for more details.

Owner appeals default judgment from subrogated insurer
Posted Date: Wednesday, January 13, 2021
After paying a claim to its insured mortgage holder, Commonwealth stepped into the shoes of its insured and filed suit against the owner for the amount owed. The owner moved to annul the default judgment, arguing the suit was not based on a promissory note. When the trial court disagreed, the owner moved to appeal. Read on for more details.

Indiana considers new recording requirements
Posted Date: Wednesday, January 13, 2021
The Indiana General Assembly is considering a bill that would amend the requirements for instruments and conveyances to be recorded. Among other things, it adds instances in which an instrument is considered validly recorded for purposes of providing constructive notice. Read on for more details.

New York considers title insurance assessment-relief act
Posted Date: Wednesday, January 13, 2021
The New York Assembly is considering legislation that would create the title insurance assessment-relief act. Read on for more details.

Florida man indicted in nationwide wire fraud scam
Posted Date: Wednesday, January 13, 2021
An Orange Park, Fla., man was indicted for conspiracy to commit wire fraud and 12 counts of wire fraud for his role in a nationwide mortgage fraud scheme. Read on for more details.

Montana commissioner of securities and insurance appoints deputy
Posted Date: Wednesday, January 13, 2021
Commissioner of Securities and Insurance, Montana State Auditor Troy Downing, recently appointed a new deputy state auditor, the highest-ranking appointment in the agency. Read on for more details.

Bank seeks remand of HSA suit against insurer
Posted Date: Monday, January 11, 2021
In one of many similar cases, a bank filed suit in state court against a title insurer for failing to defend the bank in a quiet-title suit against a homeowner’s association that foreclosed on homes when the homeowner stopped paying HOA assessments. The title insurer removed the case to federal court before any defendants had been served with process and the bank sought to remand the case to state court. Read on for more details.

New York considers new definition of title insurance inducement
Posted Date: Monday, January 11, 2021
The New York Assembly is considering a new definition of “an inducement for, or as compensation for, any title insurance business” as it relates to the prohibition against certain actions. Read on for more details.

Former employee appeals civil theft claim
Posted Date: Monday, January 11, 2021
After an attorney was sued for allegedly failing to satisfy a bank’s lien, resulting in the property being sold at a foreclosure sale and a claim being filed with the title insurer, the attorney filed suit against an employee. He alleged the failure to pay the bank lien was due to the employee’s theft of the funds. A lower court granted the attorney’s motion for summary judgment and the employee appealed. Read on for more details.

Maryland to consider new escrow trust requirements
Posted Date: Monday, January 11, 2021
The Maryland General Assembly has introduced a bill that would change the definition of escrow agent and trust money to require that an escrow agent enter into an agreement with the seller and the buyer of residential property when the escrow agent agrees to hold trust money. Read on for more details.

Maryland considers notice requirement for zones of dewatering influence
Posted Date: Monday, January 11, 2021
The Maryland General Assembly is considering legislation that would require contracts for sale in certain counties to include a notice about property located in a zone of dewatering influence and allowing purchasers to rescind a contract if the notice is not provided. Read on for more details.

New Virginia SCC commissioner takes office
Posted Date: Monday, January 11, 2021
The 37th commissioner of the Virginia State Corporation Commission was sworn into office to complete the unexpired term of Mark Christie, who became a member of the Federal Regulatory Commission on Jan. 4, 2021. Read on for more details.

Borrowers bring kickback class action
Posted Date: Wednesday, January 6, 2021
Borrowers brought a class action lawsuit in federal court, alleging a kickback scheme between a bank and a title company led them to pay inflated settlement fees. The bank moved to dismiss the action. Read on for the court’s decision.

Texas proposes new authentication requirement for real property documents
Posted Date: Wednesday, January 6, 2021
The Texas Legislature has introduced legislation that would require a new seal be placed on documents conveying real property before being recorded. Read on for more details.

California DFPI expands power with Consumer Financial Protection Law
Posted Date: Wednesday, January 6, 2021
With the new California Consumer Financial Protection Law now in effect, the Department of Financial Protection and Innovation (DFPI) has expanded powers to better protect consumers from unlawful, unfair, deceptive, and abusive practices. Read on for more details.

Missouri renews waiver of on-site review requirement
Posted Date: Wednesday, January 6, 2021
In Insurance Bulletin 20-20, the Missouri Department of Commerce and Insurance informed title insurers and title agents it renewed a waiver of on-site review requirements during the COVID-19 emergency. Read on for more details.

United States files civil fraud suit against alleged mortgage fraudsters
Posted Date: Wednesday, January 6, 2021
The United States filed a civil complaint in federal court in Brooklyn seeking damages and penalties against three individuals and multiple companies alleged to have engaged in a wide-ranging mortgage fraud scheme to defraud the government.

PRIA publishes latest eRecording document-volume survey
Posted Date: Wednesday, January 6, 2021
The Property Records Industry Association released the 2020 survey of recording jurisdictions that enabled recording prior to Jan. 1, 2018. This is the third bi-annual eRecording-document survey. Read on for more details.

New York considers bill on allowable expenses for title companies
Posted Date: Monday, January 4, 2021
The New York State Assembly is considering a bill that would clarify that certain usual and customary marketing activity does not constitute an inducement or compensation under Section 6409(d) of the Insurance Law, provided it is not intended as a reward for the future placement of, or the past placement of, a particular piece of title-insurance business. Read on for more details.

New York to consider task force on public title insurer
Posted Date: Monday, January 4, 2021
The New York State Assembly is considering legislation that would establish a temporary task force to examine and make recommendations about the establishment of a public title insurance carrier. Read on for more details.

Couple sues title insurer for handling of easement dispute
Posted Date: Monday, January 4, 2021
After their title insurer reached a settlement with their neighbor regarding an easement dispute, a couple sued the title insurer. They alleged the insurer breached the policy and was required to reimburse them for the lost value in their property based on the reduced easement agreed to in the settlement. Read on for more details.

Insurer, owner dispute right to property
Posted Date: Monday, January 4, 2021
After their divorce, a wife was awarded exclusive use and possession of property the couple owned as tenants in common. A title insurer sued the husband and obtained a default judgment against him. When the wife filed for bankruptcy, she filed an adversary complaint to determine the validity, priority or extent of the insurer’s interest in property arising from its judgment against the husband. The parties eventually filed cross motions for judgment on the pleadings. Read on for more details.

Remote notarization to continue in New York through January
Posted Date: Monday, January 4, 2021
New York Gov. Andrew Cuomo extended until Jan. 29, 2021, the executive order authorizing notarizations to be performed using audio-video technology. Read on for more details.

New York considers refinance legislation
Posted Date: Monday, January 4, 2021
The New York State Assembly is considering a bill that would require refinance lenders to provide a separate disclosure comparing monthly payments under the previous mortgage with the combined monthly payments for the new mortgage loan, property tax and insurance. Read on for more details.
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