News By Edition

The impact of real estate wire fraud stretches far beyond the incident itself, with courts delving into the legal liability various parties have to the victims of these crimes. In an exclusive interview about CertifID’s recent report, 2024 Sued for Wire Fraud Report, Executive Chairman Tom Cronkright shared the lessons learned from these cases.

Vermont Gov. Phil Scott vetoed HB 121, an act related to enhancing consumer privacy and the age-appropriate design code. He told the legislature that bill creates an unnecessary and avoidable level of risk.

Thirty states have passed legislation to protect homeowners from the predatory practice of filing unfair real estate fee agreements, often referred to as non-title recorded agreements for personal services.

The Court of Appeals of Washington recently determined who bore the risk of loss after an escrow agent absconded with the escrow funds before the escrow conditions were satisfied. The trial court had concluded the borrower bore the risk and dismissed the borrower’s claims against the lending entities, and the borrower appealed.

Texas Attorney General Ken Paxton launched a major data privacy and security initiative, establishing a team focused on enforcing Texas privacy laws.

The Ohio Division of Real Estate and Professional Licensing issued a fraudulent listing alert after receiving calls from agents who were contacted about fake listings.

As part of a lawsuit brought by her former employer for alleged trade secrets violations, a former title agency employee alleged her former employer went through her Gmail and LinkedIn accounts on the computer they provided after she left for another job.

After being sued by its insured, a title insurer filed a third-party complaint against the owner of the subject property, seeking indemnification because the owner provided an inaccurate statement on an owner’s affidavit by failing to include an encumbrance on the affidavit.

The Louisiana Legislature is considering adopting the Blockchain Basics Act. Among other things, the bill prevents prohibited foreign parties from acquiring an interest in a digital asset mining business in the state.

The Michigan Legislature is considering a bill that would require county treasurers to furnish transcripts and abstracts of records, and fix the fees to be paid for those.

A New Jersey man pleaded guilty to engaging in an extensive, multi-year conspiracy to fraudulently obtain over $54.7 million in loans and to fraudulently acquire multifamily and commercial properties.

An Illinois appellate court recently had to determine whether, after a fraudulent transfer where the creditor didn’t have actual notice of the debtor’s transfer, the four-year statute of limitations under the Uniform Fraudulent Transfer Act accrues when the contract for transfer is executed or when the deed is recorded.

The Louisiana Legislature passed legislation that provides for terms and conditions of homebuyer agreements. The bill awaits the governor’s signature.

The 2024 National Settlement Services Summit featured an exclusive interview with former Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria, now a senior advisor at the CATO Institute, who shared his views on the economy, the regulatory environment and the role of the federal government with October Research Chief Knowledge Officer Mary Schuster. The interview is available as the fifth installment of the Keys to Real Estate Podcast – the first to be recorded in front of a live audience.

Rhode Island Gov. Daniel McKee signed legislation requiring written acknowledgment from any buyer of oceanfront property or shoreline property that they have been informed of the public’s rights and privileges of the shore.

The California insurance commissioner announced several appointments to the Insurance Diversity Task Force.

Just before World Elder Abuse Awareness Day on June 15, the American Land Title Association, National Consumer Law Center, National Association of Realtors and AARP released recommendations for states to combat elder real estate fraud and financial exploitation. The Financial Crimes Enforcement Network, too, reminded financial institutions to remain vigilant in combating these frauds.

Louisiana Gov. Jeff Landry signed legislation providing for electronic filing and record retention.

A Marion, Ohio, real estate developer was indicted on 15 felony counts related to forging deeds and identity theft.