News By Edition

A federal district court in Dallas granted a preliminary injunction to postpone the effective date of the Federal Trade Commission’s Non-Compete Rule, saying the FTC “exceeded its statutory authority” in creating the rule.

The seller of property in Moorestown, N.J., filed a breach of title action against the proposed buyers for backing out of the purchase after finding a right of first refusal on the property deed. After a trial court found the right of first refusal restricted the sale of the property, the seller appealed.

The U.S. Department of the Treasury, as chair of the Committee on Foreign Investments in the United States (CFIUS), issued a notice of proposed rulemaking to expand CFIUS’ jurisdiction over certain transactions by foreign persons involving real estate in the United States.

During her keynote at the 2024 National Settlement Services Summit (NS3) keynote, Tawn Kelley, executive vice president of Taylor Morrison and president of the company’s financial services arm, focused on the importance of adaptability, resilience and the power of personal and professional growth in the face of industry challenges.

The Mortgage Industry Standards Maintenance Organization is seeking public comment on the updated Remote Online Notarization Standards V2 document.

The Texas Department of Insurance issued a notice of public hearing regarding a change to title insurance basic premium rates.

After being sued for allegedly defrauding a property owner and forging her name on a deed, the insured sought indemnity from its title insurer. The insurer filed suit against its insured, seeking declaratory relief that its insured was not entitled to legal defense or indemnification in the underlying suit.

With Fannie Mae, Freddie Mac and others embracing attorney opinion letters (AOLs) as an alternative to title insurance for residential mortgages, Bradley’s Title Insurance Claims & Title Defect Curative Practice Group took a deeper look at the viability of a revamped AOL.

The Michigan Legislature is considering legislation regarding right-to-list home sale agreements.

The California Legislature is considering legislation that would authorize a county clerk issue a fictitious business name statement using blockchain technology.

The California Legislature is considering legislation to establish the American Freedmen Affairs Agency to implement the recommendations of the Task Force to Study and Develop Reparation Proposals for African Americans, with a Special Consideration for African Americans Who are Descendants of Persons Enslaved in the United States.

California Insurance Commissioner Ricardo Lara issued Bulletin No. 2024-4 regarding the transaction of insurance in other states and territories.

When the purchaser of property in Paradise Valley, Ariz., entered into an agreement to sell the property, the escrow agent for the transaction required a previously undisclosed deed be conveyed to the seller before the transaction could occur. The seller paid the deed holder to convey the deed to it but filed suit, arguing the escrow agent was negligent or breached its fiduciary duty.

The Michigan Legislature is considering a bill regarding the use of communication technology to perform electronic notarizations and remote electronic notarizations.

Fannie Mae issued a Request for Proposal to identify potential suppliers to participate in its title acceptance pilot.

The Financial Crimes Enforcement Network announced a proposed rule to strengthen and modernize financial institutions’ anti-money laundering and countering the financing of terrorism programs.

Maryland Gov. Wes Moore appointed an interim Maryland Insurance Administration commissioner. The current commissioner retired at the end of June.

A Dallas, Texas, area pastor was sentenced to 35 years for stealing three church buildings.