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  Hardwick convicted of defrauding LandCastle TitleWednesday, October 17, 2018 A federal grand jury convicted Nathan E. Hardwick IV of 21 counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of making false statements to a federally insured financial institution on Oct. 12, 2018. He was charged with defrauding his law firm and title agency. Read on for more details. |
 California adopts Blockchain billsWednesday, October 17, 2018 The California Legislature adopted two bills regarding Blockchain. One requires the appointment of a Blockchain working group to define Blockchain and define the uses, risk and benefits of using Blockchain technology. The other bill would authorize corporations to adopt provisions of their articles of incorporation to allow the use of Blockchain in its records. Read on for more details. |
 Liability insurer seeks coverage declaration in defense of law firm Wednesday, October 17, 2018 After defending a law firm in a dispute with an underwriter that alleged the law firm breached several agency agreements in connection with a $775 million title policy, the law firm’s liability insurer sought a declaration that coverage for the case was subject to the policy limits. Read on for more details. |
BDO cyber survey shows importance of corporate oversightWednesday, October 17, 2018 In its 5th annual Cyber Governance Survey, BDO USA, LLP found that digital transformation initiatives now involve entire organizations, putting digital strategy at the top of corporate boards’ agendas. Read on for more details.
Illinois revokes originator license for mortgage fraud Wednesday, October 17, 2018 The Illinois Department of Financial and Professional Regulation Division of Banking recently issued an order revoking a mortgage loan originator’s license after receiving information the loan originator was conducting a mortgage fraud scheme. Read on for more details.
 10th Circuit hears noncompete violation dispute Monday, October 15, 2018 Former employees of a title agency that was bought by a title insurer who left to form a competing title agency appealed to the 10th U.S. Circuit Court of Appeals a large jury award based on breaches of the former employees’ contractual and fiduciary duties. Read on for more details.
Insured sues for negligence over access rights Monday, October 15, 2018 An insured sued their title insurer for negligence, breach of contract and bad faith, claiming the insurer asserted that it held fee simple title, including abutter’s and access rights but that its sale of the property was terminated after the discovery of a claim against the property by the Oklahoma Turnpike Authority. Read on for more details.
 Seller, title insurer dispute responsibility for missed judgment lien Monday, October 15, 2018 After a seller sold her house to new owners, the owners discovered a judgment lien on the property she sold to them. After losing litigation against the new owners and their title insurer, the seller sued the title insurer for negligence, breach of contract and negligent misrepresentation/nondisclosure. Read on for more details.
HSBC settles RMBS claims for $765 millionMonday, October 15, 2018 U.S. Attorney Bob Troyer announced that HSBC will pay $765 million to settle claims related to its packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities between 2005 and 2007. During this period, federally-insured financial institutions and others suffered major losses from investing in RMBS issued and underwritten by HSBC. Under the settlement, HSBC will pay the $765 million as a civil penalty pursuant to the Financial Institutions Reform, Recovery and Enforcement Act. Read on for more details.
Title agency sues Indiana DOI for alleged discriminationWednesday, October 10, 2018 An Ohio title agency licensed to do business in Indiana filed suit against the Indiana Department of Insurance and its commissioner, Stephen Robertson, after being charged with violations of Indiana insurance law. The owners of the agency claimed that their constitutional rights under the Equal Protection Clause of the Fourteenth Amendment were violated by the department.
 Live coverage: ALTA One kicks offWednesday, October 10, 2018 Beginning Oct. 9, industry members from around the country came together at the JW Marriot in Los Angeles for four days of collaboration and education. The Legal Description is in attendance, bringing you back all the latest.
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