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CFPB proposes rules to prevent wave of COVID-19 foreclosures
Posted Date: Wednesday, April 7, 2021
The Consumer Financial Protection Bureau proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire. Read on for more details.
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Judgment lien bill signed into Virginia law
Posted Date: Wednesday, April 7, 2021
Virginia Gov. Ralph Northam signed a bill to change the amount of time in which an action may be taken on a judgment lien and the time in which a suit to enforce the lien of any judgment may be brought. The new law also allows settlement agents and title insurance companies to release a judgment lien, in addition to a deed of trust. Read on for more details.
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Indiana governor signs lien removal fee bill
Posted Date: Wednesday, April 7, 2021
Indiana Gov. Eric Holcomb signed legislation establishing a fee for recording the release of a lien or liens on property held by a political subdivision. Read on for more details.
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Insureds seek coverage for dispute over sewer easement
Posted Date: Wednesday, March 31, 2021
Insureds filed suit regarding a long-standing and enduring legal battle over a water and sewer easement to an adjacent two acres. The underlying litigation with the adjacent property owner has been going on since 2013. Read on for more details.
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Agencies seek comment on financial institution’s use of AI
Posted Date: Wednesday, March 31, 2021
Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations. Read on for more details.
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Texas considers home equity closing bill
Posted Date: Wednesday, March 31, 2021
The Texas Legislature is considering a bill relating to the physical presence of a borrower at the closing of a home equity loan. Read on for more details.
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Texas Legislature considers records bill
Posted Date: Wednesday, March 31, 2021
The Texas Legislature is considering legislation regarding the expunging of federal tax liens from county deed records. Read on for more details.
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Savannah man sentenced for house-flipping scheme
Posted Date: Wednesday, March 31, 2021
A Savannah man who concocted a scheme to enrich himself by repeatedly borrowing money against the same pieces of property was sentenced to prison and ordered to repay more than $4.5 million. Read on for more details.
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Title insurer sues former owner over unpaid lien
Posted Date: Monday, March 29, 2021
After its errors and omissions insurer filed suit to determine the parties’ rights and obligations under its policy, a title insurer filed counterclaims against the former owner of the property for unjust enrichment and sought to recover from the former owner the funds it used to payoff the former owner’s mortgage on the property. Read on for more details.
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Associations send letter in support of 1031 exchanges
Posted Date: Monday, March 29, 2021
Thirty organizations, including the American Land Title Association, the Mortgage Bankers Association and the National Association of Realtors, wrote letters to the leaders of the Senate Committee on Finance and the House Committee on Ways and Means, as well as the Treasury Department, highlighting how 1031 exchanges benefit the economy. Read on for more details.
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Nevada considers transfer of deed upon death
Posted Date: Monday, March 29, 2021
The Nevada Legislature is considering legislation that would revise the provisions regarding the transfer of real property pursuant to a deed becoming effective upon the death of the grantor. Read on for more details.
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Virginia adopts real estate settlement agent bill
Posted Date: Monday, March 29, 2021
Virginia Gov. Ralph Northam signed legislation that authorizes the State Corporation Commission to share information collected from a settlement agent or agency regarding any errors and omissions or malpractice insurance policy or surety bond with any party to the real estate transaction in connection with the actions of the agent or agency regarding a settlement. Read on for more details.
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Maryland settlement agents charged with embezzling closing funds
Posted Date: Monday, March 29, 2021
Settlement agents from southern Maryland were charged with conspiracy to commit wire fraud in connection with an alleged scheme to siphon a portion of closing funds they collected while acting as settlement agents. Read on to learn more.
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South Floridians sentenced for short sale fraud
Posted Date: Monday, March 29, 2021
The last of six South Florida family members was sentenced to a term of imprisonment and ordered to pay a total of $1,342,928.77 in restitution, following her guilty plea in August 2020 to conspiracy to commit bank fraud. Read on for more details.
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