News By Edition

The Tennessee Department of Commerce and Insurance advised insurance entities in the state to issue attorney opinion letters in lieu of title insurance cautiously, as under current state law, the letters cannot offer the same types of protections as a title insurance policy.

Shortly after a federal court partially lifted a court order preventing mass firings at the Consumer Financial Protection Bureau, the Trump administration resumed its plans to gut the agency, prompting the courts to intervene again.

In its annual Internet Crime Report, the FBI’s Internet Crime Complaint Center studied information from a combined total of 859,532 complaints in 2024, finding that losses exceeded $16 billion. California, Texas, and Florida accounted for the most complaints received by state.

A bill currently under committee review in the New York state assembly would prohibit title companies from offering rebates or other financial incentives to attract business, while also banning applicants from knowingly receiving such incentives.

The Louisiana Department of Insurance has earned full national accreditation from the National Association of Insurance Commissioners for its work to promote financial solvency regulation.

A former title agent and escrow officer from Texas was sentenced to 24 months in prison for her role as conspirator in a $350,000 wire fraud scheme.

East Texas Title Companies has filed suit against the U.S. Treasury’s Financial Crimes Enforcement Network over allegations of “unreasonable” data collection and reporting requirements.

The Massachusetts Department of Revenue has proposed a new rule requiring taxes to be withheld on non-resident sellers’ capital gains from Massachusetts real estate sales of $1 million or more.

The Illinois state senate is currently weighing a measure that would shift the jurisdiction of enforcement for the state’s Title Insurance Act from the Department of Financial and Professional Regulation to the Department of Insurance.

The California Privacy Protection Agency is joining forces with seven state attorneys general to launch the Consortium of Privacy Regulators, a collaborative body working to tackle consumer privacy issues nationwide.

Rule 7 of the Louisiana Insurance Code is being repealed, with the Louisiana Insurance Department commenting that the rule is no longer being used as legal guidance and is not relevant to the state’s insurers.

A former attorney from Calverton, N.Y., has pleaded guilty to fourth-degree grand larceny after being accused of stealing $25,000 from a home sale escrow account.

The state of Ohio, through Attorney General Dave Yost, filed suit against United Wholesale Mortgage, LLC over allegations it violated the state’s Residential Mortgage Lending Act and Corrupt Sales Practices Act by deceiving homebuyers.

The D.C. Circuit Court of Appeals partially stayed a preliminary injunction against the Consumer Financial Protection Bureau and ordered the agency to fulfill its statutory functions. The district court that imposed the injunction in March intervened again in response to a reduction in force directive by the bureau following the appeals court’s ruling.

A new risk report from FundingShield found title and wire fraud-related security issues with nearly half of all transactions surveyed in the first quarter out of a portfolio worth roughly $80 billion, which the report said indicates poor oversight by lenders and closing agents.

The state legislature of Arkansas has sent a bill to the governor’s office which would require county recorders to see a valid form of photo identification before processing a real estate deed.

In an alert to its members, a title attorney association warned of a new variant of the imposter fraud scheme that has been attempted upon and prevented by at least one member during a significant residential property transaction.

A former settlement and title processor from Maryland pleaded guilty in federal court to knowingly making false statements to financial institutions in connection with real estate transactions as part of scheme to illegally obtain more than $35 million.