News By Edition

After a title insurer and its employee were sued for allegedly participating in a fraudulent scheme, they moved to compel arbitration. A trial court denied their motion, so they appealed to the Court of Appeals of Utah.

Rep. Andrew Garbarino (R-NY) and Vicente Gonzalez (D-Texas) introduced the Protecting America’s Property Rights Act (HR 5837), which would provide additional requirements for the purchase and sale of conventional mortgages by Freddie Mac and Fannie Mae.

A Florida title agency sued three former employees and their new employer, seeking damages for lost business after the employees allegedly used the agency’s confidential information to solicit business for their new employer. The former employees and their new employer seek to dismiss an amended complaint against them.

The Financial Crimes Enforcement Network issued a Notice of Proposed Rulemaking to extend the deadline for certain reporting companies to file their beneficial ownership information reports.

The Yavapai County, Ariz., Sheriff’s Office warned the public and local real estate agencies of a scam that has recently been reported to them.

The Maryland Insurance Administration issued Bulletin No. 23-16 regarding changes to the Code of Maryland Regulations concerning title insurance reviews.

A title insurer moved to dismiss a first amended complaint against it regarding coverage for a notice of abatement. The insurer argued the claims were time barred under the statute of limitations.

A federal jury convicted two real estate developers for participating in a conspiracy that embezzled millions of dollars from the failed Washington Federal Bank for Savings in Chicago.

The Oklahoma Insurance Department announced improvements in continuing education (CE) services for insurance professionals. It said the National Insurance Producer Registry is in the final stages of launching an upgraded CE user experience.

A buyer purchased hundreds of acres of property out of bankruptcy, as well as title insurance to cover the property, and later entered into a timber agreement to cut timber on part of the property. The previous owner had entered into a debt for nature conservation contract with the U.S. Department of Agriculture which prevented the harvesting of timber. Eventually, the buyer sued the title insurer to determine coverage under the policy for this issue.

The Secure and Fair Enforcement Regulation Banking Act, which would ensure that legal cannabis businesses have access to banking and financial services, passed the Senate Committee on Banking, Housing and Urban Affairs by a vote of 14-9.

The U.S. Treasury Department, on behalf of the Financial Crimes Enforcement Network, published in the Federal Register a 30-day notice for the FinCEN Identifier Application.

Several insurance associations, including the American Land Title Association, wrote to the leaders of the U.S. House Financial Services Committee, urging them to reauthorize the National Flood Insurance Program.

A federal grand jury in Roanoke, Va., returned an indictment charging a Fieldale, Va., man with engaging in a fraud scheme in connection with a residential real estate transaction valued at more than $1.3 million.

From Oct. 1-2, The Legal Description will join industry professionals from across the state of Maryland at the Maryland Land Title Association’s Fall Convention. Look for live coverage on social media and online beginning Sunday, Oct. 1.

The Ga. Supreme Court recently issued an opinion to amend the Georgia Rules of Professional Conduct, prohibiting a lawyer from acting with willful blindness in counseling a client.

A title insurer sued an insured seeking a declaratory judgment to determine the parties’ duties under the title policy.

MV Realty, which has been sued by seven state attorneys general over its Homeowner Benefit Program, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida.

The New Hampshire Insurance Department announced the confirmation a new commissioner for the department, following approval by the Executive Council.