News By Edition

The Massachusetts General Court is considering legislation to reform title insurance by requiring that reissue rates be charged when a borrower is refinancing their mortgage. Read on for more details.

A real estate developer who owned several properties worked with a title agency to refinance his properties, requesting it send funds held in escrow to overseas accounts to purchase 720 kilograms of gold. When the gold didn’t arrive, he sued the title agency for breach of contract and breach of the duty of good faith and fair dealing. Read on for more details.

New Mexico Gov. Michelle Lujan Grisham signed insurance legislation that, among other things, amends state law about discrimination, rebates and prohibited inducements. Read on for more details.

Gov. Gavin Newsom, Attorney General Xavier Becerra, Senate President pro Tempore Toni G. Atkins (D-San Diego), and Assembly Speaker Anthony Rendon (D-Lakewood) announced the establishment of the five-member inaugural board for the California Privacy Protection Agency (CPPA), a new administrative agency charged with protecting the fundamental privacy rights of consumers over their personal information.

The New York State Department of Financial Services announced a cybersecurity settlement with a licensed insurance company. Read on for more details.

The Oklahoma Legislature has passed legislation changing the loan principal amounts for finance rates and permitting a closing fee. The bill awaits the governor’s signature. Read on for more details.

The owner of property in New Jersey appealed an order denying her order to show cause seeking a preliminary injunction in a quiet title action. She had requested restraints to prevent eviction from a property that was foreclosed and then repurchased by a lender. Read on for more details.

The Arkansas State Legislature is considering legislating the regulation of witnessing certain documents by a notary public to allow remote notarizations. Read on for more details.

The Maryland General Assembly has passed legislation altering the definitions of escrow agent and trust money to require escrow agents enter into an agreement with the seller and the buyer of residential real estate when the escrow agent agrees to hold trust money. The bill awaits the governor’s signature. Read on for more details.

The Illinois General Assembly is considering legislation that would provide that certain recording fees would apply to certified copies of records that are maintained in any format. It would also provide that recorders that have adopted a predictable recording fee schedule may charge a standard fee for non-standard documents. Read on for more details.

New York Superintendent of Financial Services Linda Lacewell announced the state’s Office of Financial Inclusion and Empowerment. Read on for more information about the new office.

Minn. Gov. Tim Walz appointed a new commissioner of the Minnesota Department of Commerce to replace outgoing commissioner Steve Kelley. Read on for more details.

As subrogee for a lender, a title insurer filed a malpractice suit against a firm arising from the firm’s representation of the lender following the refinancing of a loan. Read on for more details.

The California State Legislature is considering legislation regarding the recording of a modification to remove a restrictive covenant in violation of the California Fair Employment and Housing Act. Read on for more details.

A third party who loaned funds to the owner of property in Inglewood, Calif., sued the holder of the first priority deed, seeking to quiet title to the property. It argued that because it lent the funds after the deed was expunged and prior to its reinstatement in the record, it retained its property rights under California’s Quiet Title Act. Read on for more details.

Utah Gov. Spencer Cox signed legislation that, among other things, amends provisions regarding a title producer’s business. Read on for more details.

The Hawaii Legislature is considering legislation that would mandate additional information sellers must include in their mandatory disclosure. Read on for more details.

A Southern California brother-and-sister team were arrested on federal charges alleging they orchestrated a $6 million real estate fraud scam in which they listed homes without the owners’ consent and collected money from multiple would-be buyers for each of the not-for-sale homes. Read on for more details.

A homeowner filed a quiet title action against her loan servicer, arguing that the legal effect of her Chapter 13 bankruptcy discharge, which had been entered eight years earlier, had extinguished her mortgage with the servicer as well as the servicer’s right to enforce it or assert a future foreclosure claim. Read on for more details.

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, issued a statement addressing guidance around Bank Secrecy Act requirements and a request for information on anti-money laundering compliance. Read on for more details.

After purchasing property in Indiana, a couple discovered a previously undisclosed easement across the southern portion of their property. They submitted a claim under their title policy before filing suit against the easement owner and her boyfriend. They obtained a preliminary injuction before moving to dismiss the complaint because the easement was valid and they had taken steps to thwart the use of the easement. The case eventually went before the Court of Appeals of Indiana. Read on for more details.

Montana Gov. Greg Gianforte signed legislation revising the tax lien and tax deed process laws. Read on for more details.

The Oklahoma Legislature is considering a bill changing the loan principal amounts for finance rates and permitting a closing fee. Read on for more details.

A Foosland, Ill., man has been sentenced to prison for conspiracy to commit bank fraud and bank fraud in connection with a real estate short-sale scheme. Read on for more details.