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Third circuit addresses arbitration provisions
Posted Date: Wednesday, August 16, 2017
In the latest challenge in a case that has become about arbitration, as well as alleged violations of closing protection letters, a title insurer challenged a district court’s decision to deny its motion to compel a couple to arbitrate the dispute over the closing protection letter coverage. Read on for more details.
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Do construction escrowees breach duty by not investigating progress?
Posted Date: Wednesday, August 16, 2017
In a lawsuit over a failed construction project, the homeowners brought claims for breach of fiduciary duty against the construction escrowee, arguing that it should have investigated the progress of the construction project before disbursing payments. Read on for more details.
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New Jersey man sentenced for leading $1 million mortgage fraud scheme
Posted Date: Wednesday, August 16, 2017
New Jersey Attorney General Christopher S. Porrino announced that a Union County man was sentenced to state prison for leading an elaborate identity theft and mortgage fraud scheme in which he and his co-defendants stole nearly $1 million from various lenders. Read on for more details.
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Former title company CFO sentenced on theft charges
Posted Date: Wednesday, August 16, 2017
In San Antonio, a former chief financial officer was sentenced to time in prison for stealing from the local title company where he worked. Read on for more details.
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Arkansas Secretary of State adds eNotary provider
Posted Date: Wednesday, August 16, 2017
The Office of Secretary of State Mark Martin announced the addition of a digital closing platform as an electronic notary solution provider for Arkansas. Read on for more details.
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Plaintiffs appeal when binding arbitration is denied
Posted Date: Monday, August 14, 2017
In a case where plaintiffs allege a partner fraudulently conveyed deed of the co-owned property to herself, then assigned it to a third party, plaintiffs appealed a trial court ruling that denied them binding arbitration, as had been written in a settlement agreement. Read on for details of how the Texas appellate court ruled.
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Buyers claim title company complicit in cyberhack
Posted Date: Monday, August 14, 2017
Homebuyers in the Washington, D.C., area filed suit against the title company that conducted their closing. Though the buyers received two emails regarding wiring instructions and had received email confirmations that the wires had been received and closing funds held in escrow, on the day of closing, the title company informed them that it had not received the funds. Later it informed them that the company’s email server had been hacked. The homebuyers filed suit against the company and the employees that handled the closing, alleging, among other things, charges of racketeering and wire fraud. Read on for more details.
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Duty of care among issues challenged upon appeal
Posted Date: Monday, August 14, 2017
A California couple who defaulted on their loan sued their lender and other defendants in an effort to avoid foreclosure. The complaint alleged causes of action or intentional and negligent misrepresentation, among others. In considering the couple’s negligence claim, however, the court also considered an amicus brief from the National Housing Law Project which supported the couple’s charge that they were owed a duty of care. Read on for details of the court’s decision.
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Paper examines regulatory approaches to cybersecurity
Posted Date: Monday, August 14, 2017
The Financial Stability Institute has published a paper on financial institution cyberrisk. This paper discusses regulatory approaches to enhance cybersecurity frameworks and identified six high-level policy considerations for regulators to consider. Read on for details of the guidance and what regulators might consider your company to do to prevent cyberattacks.
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Defunct escrow company owner indicted for bank fraud
Posted Date: Monday, August 14, 2017
The owner of a now defunct real estate escrow firm was indicted by a federal grand jury on ten counts of bank fraud, and one count each of mail and wire fraud. Read on for more details.
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NICE Framework finalized, released
Posted Date: Wednesday, August 9, 2017
The National Initiative for Cybersecurity Education (NICE) Framework, which has been in development for more than five years, was finalized and released by the National Institute of Standards and Technology (NIST). The framework serves as a fundamental reference resource to support a workforce capable of meeting an organization’s cybersecurity needs. It provides organizations with a common, consistent lexicon that categorizes and describes cybersecurity work.
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Does void default judgment grant quiet title relief?
Posted Date: Wednesday, August 9, 2017
The holder of an original lien on property sued the purchasers of the property who relied on a void default judgment when they bought it. The court agreed with the holder of the original lien that the void default judgment did not quiet title to the property. Read on for more details.
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Colorado notary law takes effect
Posted Date: Wednesday, August 9, 2017
A bill passed in April by the Colorado legislature took effect Aug. 9. It enacts the Revised Uniform Law on Notarial Acts, as amended by the National Conference of Commissioners on Uniform State Laws in 2016. Read on for the details.
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Washington notary law to take effect in 2018
Posted Date: Wednesday, August 9, 2017
Washington Gov. Jay Inslee recently signed into law a notary statute which is substantially similar to the Revised Uniform Law on Notarial Acts (RULONA). The law will take effect in the summer of 2018. Read on for the details, including the ways in which it differs from RULONA.
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Escrow owner arrested for bank, wire fraud
Posted Date: Wednesday, August 9, 2017
The owner of a now-defunct real estate escrow firm was indicted last month by a federal grand jury on 10 counts of bank fraud, and one count each of mail and wire fraud.
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Bank sued for wrongful foreclosure, quiet title
Posted Date: Monday, August 7, 2017
The owner of property in Brownville, Texas, filed suit against a bank that filed foreclosure against the property. The bank had alleged that non-parties to the suit had obtained a loan to purchase the property years earlier. Read on for more details.
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Maryland adopts new data breach notification statute
Posted Date: Monday, August 7, 2017
The Maryland General Assembly has adopted legislation that revises the state’s data breach statute, the Maryland Personal Information Protection Act. Read on for more details.
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