News By Edition

After Fidelity National Financial Inc. reported in a filing with the Securities and Exchange Commission it was the victim of a cybersecurity incident, Cloudstar CEO Gregory McDonald spoke exclusively with The Title Report about what might be happening in response.  

McDonald said data security and forensic experts are going to help triage and “stop the bleeding” while isolating where the threat is coming from.

Read on to find out more information.

The Ohio General Assembly introduced legislation to require payment of property taxes and assessments when a lot is split or transferred and to generally prohibit tax-delinquent property owners from purchasing tax-foreclosed property.

A title company filed an interpleader action against a buyer and seller to resolve the conflicting claims to earnest money for a failed sale. The seller appealed a trial court’s order directing that interpleader funds be released to the buyer following a directed verdict in favor of the buyer.

The owners of adjacent properties disputed the ownership of land between the two properties. One party filed a quiet title suit and was found to have superior title. The other party appealed.

In a case where both parties are victims of fraud, the company that sold the property to the fraudsters and held the note and deed of trust on the property sued the entity that provided a loan to the fraudsters later. The seller eventually filed suit against the lending entity to determine whose security interest prevails. After a lower court found in favor of the seller, the defendant entity appealed.

The New York State Department of Financial Services announced that First American Title Insurance Co. will pay a $1 million penalty to New York State for violations of the department’s cybersecurity regulation stemming from a large-scale cybersecurity breach in May 2019.

The Kansas Court System continues to experience disrupted access to information systems after an Oct. 12 security incident.

The Missouri Department of Commerce & Insurance issued Insurance Bulletin 23-04, Reporting Cybersecurity Events to the Department of Commerce & Insurance. The bulletin addresses inquiries the department received regarding notification requirements in the event of a cybersecurity event.

The State of Maine is notifying individuals that it was affected by the global cybersecurity incident concerning the file transfer tool, MOVEit. The state is among several thousand organizations impacted by the software vulnerability in MOVEit which allowed cybercriminals to access and download data.

The Illinois Department of Financial & Professional Regulation Division of Financial Institutions issued a consent order against a company that purported to provide escrow services in the state without the proper authority from the department.

The Citrus County, Fla., clerk sent a public notice reminding recording entities that beginning Jan. 1, 2024, certain documents recorded in the official records must include the post office address of each witness in addition to the witness’ name.

In a filing with the Securities and Exchange Commission on Nov. 21, Fidelity National Financial Inc. reported it was victim of a cybersecurity incident that “resulted in disruptions to our business,” including its title insurance and mortgage transaction services.

After a mistake on a mortgage was fixed, the borrower defaulted on the mortgage and the lender’s assignee attempted to foreclose on the unit. At the same time, the condominium association for the unit foreclosed on its lien on the property. An entity purchased the unit at the condominium association’s foreclosure auction and sought to quiet title to the property. The case eventually went before the 2nd U.S. Circuit Court of Appeals.

The Financial Crimes Enforcement Network updated its Beneficial Ownership Information FAQs to include new questions about the reporting process, reporting companies, beneficial owners, company applicants, reporting requirements, initial reports, and reporting company exemptions.

The Wisconsin Office of the Commissioner of Insurance issued a bulletin on Wisconsin Agent Appointment Renewal Invoices for 2023 for all insurance companies with Wisconsin agent appointments.

The Oklahoma Insurance Department announced the relocation of its Tulsa office location to an upgraded facility.