News By Edition

Daniel Fortune, partner at Bradley Arant Boult Cummings LLP, and Wendy Lee, shareholder at Buchalter Law Firm, broke down the 1033 rule and discussed how to help keep customer data practices compliant at at October Research’s National Settlement Services Summit (NS3).

A man filed the latest of several attempts to challenge a 2014 foreclosure action by filing suit against the state of Ohio, Ohio Attorney General David Yost and a title company, among others.

The Ohio General Assembly is considering legislation that would require the payment of property taxes and assessments when a lot is split or transferred. It would also prohibit tax-delinquent property owners from purchasing tax-foreclosed property.

Florida Gov. Ron DeSantis signed legislation authorizing an owner to create an easement, servitude, or other interest in the owner’s real property.

The Ohio General Assembly is considering legislation that would authorize a property tax freeze for certain owner-occupied homes.

The Federal Housing Finance Agency will host the first meeting of the Advisory Committee on Affordable, Equitable and Sustainable Housing in September.

A former attorney has been sentenced to 25 years in federal prison for embezzlement and fraud in connection with the failure of Washington Federal Bank for Savings in Chicago.

The Legal Description is among the attendees at the Property Records Industry Association Annual Conference for three days of learning with government and business members from across the recording industry.

After being the victim of payoff fraud, a title agency filed suit against the bank that received the funds from the fraudulent payoff instructions. The bank moved to dismiss the case.

Illinois Gov. J.B. Pritzker signed a bill amending the state’s Power of Attorney Act.

West Virginia Insurance Commissioner Allan McVey issued a bulletin which provides recommendations to ensure compliance regarding the use of artificial intelligence systems.

New Hampshire Gov. Chris Sununu signed legislation requiring that prior to the execution of a purchase and sale agreement for real property, flood risks be disclosed to the buyer.

A New York real estate attorney was indicted for stealing from a client’s escrow account intended to purchase a Harlem, N.Y., apartment.

The owner of property in Centralia, Wash., sought coverage after discovering a boundary line adjustment consolidated two lots it had purchased into one. Its title insurer denied coverage and the owner filed suit.

The Consumer Financial Protection Bureau released an advisory opinion and research report affirming that contracts for deed must comply with federal mortgage protections.

In addition to their individual letters, several real estate-related associations, including Real Estate Service Providers Council, American Land Title Association, Mortgage Bankers Association and the Realty Alliance, submitted a joint letter in response to the Consumer Financial Protection Bureau’s request for information on real estate closing costs.

Illinois Gov. J.B. Pritzker signed a bill which prohibits the use of service agreements that are unfair to the owner of residential real estate.

The Illinois Department of Financial and Professional Regulation announced in addition to modernizing outdated processes, it reached an agreement to secure a new professional licensing system.

A real estate professional in California pleaded guilty to his role in a $55 million mortgage fraud conspiracy.

Several members of Congress wrote to Consumer Financial Protection Bureau Director Rohit Chopra, urging him to continue to adhere to the Dodd-Frank Act and “leave the regulation of insurance products to state insurance commissioners,” in light of the bureau’s request for information on closing costs.

After they stopped repaying a loan more than 15 years ago and had their home foreclosed upon, a couple sued, challenging assignments of loan documents and closing procedures.

The Michigan Department of Insurance and Financial Services issued a bulletin to help ensure consumers are protected when insurance companies use artificial intelligence when they underwrite new policies, make coverage determinations or decide how much their products will cost.

The Maryland Insurance Administration (MIA) issued a bulletin to notify insurance producers that a new law increased the maximum civil penalties that the MIA may impose for certain statutory violations, effective Oct. 1.

The Financial Crimes Enforcement Network launched a public service announcement campaign as part of its efforts to educate the small business community about new beneficial ownership reporting requirements.