News By Edition

In a recent article on ethics, The Cost of Doing Business (With a Client), the Massachusetts Board of Bar Overseers advised real estate lawyers that state rules require them to provide disclosure and consent requirements regarding the sale of title insurance.

U.S. Senators Kevin Cramer (R-ND) and Mark Warner (D-VA) reintroduced their Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act. This bipartisan bill would permit the nationwide use of remote online notarizations (RONs), enabling notaries and signers to complete the process from different physical locations.

A long-standing multi-line insurance company filed suit against a title agency, alleging the title agency infringed its trademarks. After a federal district court in Florida granted summary judgment to the title agency, the insurance company appealed the case to the 11th U.S. Circuit Court of Appeals.

The Consumer Financial Protection Bureau issued guidance on debt collectors, covered by the Fair Debt Collection Practices, seeking to foreclose on homes with mortgages past the statute of limitations.

New York Attorney General Letitia James, state Sen. Brian Kavanagh, state Sen. Zellnor Myrie, and Assemblymember Helene Weinstein announced legislation to strengthen protections and remedies for victims of deed theft and bolster the Office of the Attorney General’s (OAG) ability to prosecute these crimes.

In the consumer edition of the State of Wire Fraud report, CerifID found consumer real estate payments represent the most frequent target of wire fraud in 2022, with cybercriminals targeting buyer cash-to-close payments in particular.

A title company sued a lender, seeking a declaration that it had no duty to defend and indemnify a lender after the lender was subject to escrow fraud.

The Consumer Financial Protection Bureau proposed a rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy loans.

The Oklahoma Legislature is considering legislation to amend the Oklahoma Abstractors Act to provide an exception for the determination of certain unnecessary delay.

Louisiana Insurance Commissioner James Donelon issued Bulletin 2021-04 (revised and reissued) regarding the information security program of the Insurance Data Security Law.

A Roswell, N.M., escrow manager pleaded guilty to wire fraud and engaging in monetary transactions in property derived from specified unlawful activity.

: In its Q1 2023 Fraud Analytics, FundingShield noted more than half of transactions completed in the quarter had at least one risk issue.

The Texas Legislature is considering a bill relating to requirements for the physical presence of a borrower for signing certain documents related to a home equity loan.

The Florida Legislature passed legislation relating to residential loan alternative agreements, specifying restrictions on these agreements and prohibiting courts from enforcing them. The bill awaits the governor’s signature.

South Carolina Gov. Henry McMaster nominated a new director of the state’s department of insurance.

A title insurer and its employee appealed to the 10th U.S. Circuit Court of Appeals a denial by the U.S. District Court for the District of Utah of their motion to compel property owners’ claims against the employee and the denial of their motion to reconsider that ruling.

The Financial Crimes Enforcement Network announced the renewal and expansion of its Geographic Targeting Orders that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.

The Oklahoma Legislature passed legislation to permit certified copies to be made in accordance with the Uniform Real Property Electronic Recording Act and allow fees to be charged for certified records in accordance with certain fee schedules. The bill awaits the governor’s signature.

Arizona Gov. Katie Hobbs signed legislation to require county recorders to provide a system to notify property owners when a document is recorded against their property.