|
|
  Parties debate ‘insured’ under policy in coverage disputeMonday, October 18, 2021 A company sued a title insurer, alleging that it breached a title policy by failing to indemnify the company in a related action concerning a land dispute. The insurer had denied coverage, arguing that the company was not an insured under the policy. The parties eventually filed cross motions for summary judgment. |
 Congress introduces ENABLERS legislation Monday, October 18, 2021 A bipartisan group of representatives introduced the bipartisan Establishing Risks to Security (ENABLERS) Act, designed to close loopholes that kleptocrats from around the world use to launder money in the United States. Among other things, it would require the Treasury secretary to promulgate a rule requiring domestic title insurance companies to report to the secretary information on the beneficial owners of entitles that purchase or sell residential or commercial real estate in transactions in which the domestic title insurance company is involved. |
 Massachusetts considers Nantucket transfer fee Monday, October 18, 2021 The Massachusetts General Court is considering legislation to authorize the town of Nantucket, Mass., to impose a real estate transfer fee for affordable and workforce housing. |
CFPB names senior leadership hires Monday, October 18, 2021 The Consumer Financial Protection Bureau (CFPB) announced leadership changes within the Bureau. The positions being announced are: deputy director; associate director for Consumer Education & External Affairs; chief of staff; and chief technologist.
Chicago fraudster sentenced for mortgage fraud Monday, October 18, 2021 A suburban Chicago businessman who schemed with an attorney and two others to sell millions of dollars in phony mortgages has been sentenced to 11 years in federal prison.
 E&O provider, title company dispute coverage of class action suit Wednesday, October 13, 2021 A title company and its errors and omissions insurer dispute a duty to defend the title company in a putative class action in state court. The insurer filed suit against the title company, seeking a declaration it did not owe a duty to defend the title company in the class action suit.
 Parties dispute liability for overlooked easement beneficiary Tuesday, October 12, 2021 In a case stemming from the failure of a mixed-use real estate development project because of an overlooked beneficiary of a recorded access easement, the property owner and its investors filed suit against, among others, the title insurer. They alleged claims of contribution and indemnity, which had been assigned to them by the closing attorneys to the transaction.
Mortgagee, secondary lender dispute notice of lienTuesday, October 12, 2021 A man loaned friends $100,000 as a down payment to purchase their ranch in Big Horn County, Wyo., with the understanding he would get a lien on the property, but without a written record of that fact. When the couple defaulted and the mortgagee foreclosed, the man filed suit against the bank, arguing his loan had priority over the mortgage and that the lender had notice of his lien.
MIA names director of fiscal services Tuesday, October 12, 2021 Maryland Insurance Commissioner Kathleen Birrane has named a director of fiscal services for the Maryland Insurance Administration (MIA).
California county launches program to combat deed fraud Tuesday, October 12, 2021 The County of Marin, Calif., is taking steps to mitigate fraudulent real estate transfers with a new program that notifies property owners when documents have been filed about an ownership transfer.
|
|
|