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The bill passed the Alabama House of Representatives in mid-February and is currently on the calendar of the state Senates banking and insurance committee for further review. But Ellison said that her agents have not had any issues with clients about these agreements. And that is positive. I think it is a bad move.
Fortunately, there are ways to detect deed fraud attempts early, but mortgage professionals need to be well-informed to protect themselves and their clients. In some cases, AI and other digital tools have also been used to create convincing forgeries of documents or to automate the process of generating fake deeds and other legal documents.
Incenter Lender Services Chief Legal Counsel Kathleen Dutill Kathleen Dutill , an experienced mortgage industry attorney, has joined Incenter Lender Services as Chief Legal Counsel. It’s exciting to work with people with a common vision, and to have a meaningful role in moving our clients forward.”
For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Diane Tomb, ALTA CEO Contributor.
The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.
Kalin led a segment on best practices for legal matters that agents may face when assisting Altadena residents. He advised Black agents to maintain an objective approach when working with clients. “Be a resource, be a friend, but don’t be an attorney,” he said.
The real estate giant was prompted to do this by the terms of National Association of Realtors’ (NAR) commission lawsuit settlement agreement which requires agents to have a written agreement with a client in order to work with them as a buyer broker. This agreement must be signed prior to an agent taking a buyer to tour a home.
The checklist covers such broad areas and topics as: organizational structure; litigation; compliance ; intellectual property; real property; financial and tax; labor and employment; material, vendor, and software contracts; insurance; and customers. Patent & Trademark Office. Nettleingham is a shareholder at Maddin Hauser.
Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes. Put simply, a good agent is a sherpa who knows every step of the journey and expertly leads their client up the path. How do real estate agents get paid?
But when we say this is the Ultimate Resource Guide for title insurance professionals, we mean it! Associations American Land Title Association (ALTA) ALTA serves as the national trade association and voice for the title insurance industry, representing over 6,000 title insurance companies, agents and real estate attorneys.
Obtain a real estate broker license Your new chapter begins with ensuring you meet all legal requirements to operate as a broker. This includes legal, tax, and state requirements. These legal structures offer some liability protection for you and, in most cases, tax benefits as well. Now you have to do some tedious stuff.
Despite having long ago settled the commission lawsuits , legal challenges continue to mount for real estate industry giant Anywhere. On Friday, the firm and some of its subsidiaries and agents were accused of violating the federal Racketeer Influenced and Corrupt Organizations (RICO) Act and the Lanham Act.
Real estate agents often make the mistake of believing their clients will remember them forever but they dont. Its up to us as agents to stay engaged and stay in contact with our clients. When you buy through our links, we may earn a commission. So, where do you start? Why send a regular real estate newsletter?
The total estimated cost of getting a Colorado real estate license ranges from $1,080 to $1,800, depending on the real estate course you choose and the cost of your E&O insurance. It protects you from potential legal claims that a mistake on your part caused someone financial harm. Read on to learn more.
Risk Mitigation Strategies Diversifying our client base and loan portfolio helps mitigate risk in the face of economic fluctuations. Maintaining a strong focus on customer service and borrower support helps build trust and loyalty, ensuring long-term stability for LoanCare and our clients. Next year] will be no different for us.
In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty. As a custodian of funds, you are in a position of trust and knowledge.
AmTrust Title Insurance Co. , and has underwritten title insurance transactions nationwide, including reinsurance and international title insurance transactions. and has underwritten title insurance transactions nationwide, including reinsurance and international title insurance transactions. said Gosdin.
The Cleveland-based Erie Title has been serving clients in Ohio since 1998. The new group will be led by current Erie Title president Kevin Blum, who will assume the role of president at the merged company, which will serve clients across the Buckeye state.
Consider the residential client disappointed at the lack of inventory , or the commercial investor with many vacancies in a once-thriving property. Communicate effectively with clients Proactive communication — answering the question before it’s asked, or offering solutions to impending problems — is key. Legal disputes.
The lenders that have prepared for the market improvements, including some of our new clients, have tech tools for their risk & compliance, operations, funding & accounting teams to fight back against threats. of transactions having errors, as well as a higher rate of insurance coverage issues, at 2.2% billion in 2023.
Oregon-based WFG National Title Insurance Co. ” Richardson, who holds title producer licenses in Michigan and Indiana, comes to WFG after seven years on Amrock’s legal team. .” ” Richardson, who holds title producer licenses in Michigan and Indiana, comes to WFG after seven years on Amrock’s legal team.
In today’s rapidly evolving digital landscape, it is crucial to understand and effectively manage cybersecurity risks in order to safeguard your title insurance or real estate business. The impact of these risks can be severe, affecting not only your bottom line but also the trust and confidence your clients have in your business.
” WFG, a full-service provider of title insurance, underwriting, and escrow services for real estate transactions nationwide, has been actively expanding its services and market reach since its establishment in 2010. Houlihan Lokey is serving as the financial advisor to Doma, while Mayer Brown LLP is acting as legal counsel.
Goldberg said the rule needs to be mandatory, because cooperating participants have a right to know how they will be compensated prior to working with clients. Goldberg said he wasn’t sure, deferring the decision to the trade group’s legal team. Glass returned to the floor after Ketchmark to ask Goldberg to clarify a few points.
They also help to prevent fraud and ensure that the sale is conducted legally and ethically. In real estate, a title is a legal document that establishes ownership of a property or asset. You can obtain a title through purchase, inheritance or other legal means. What is a title in the context of real estate?
Given the Department of Justice s ongoing legal battle with the National Association of Realtors (NAR), Sue Yannaccone the president and CEO of Anywhere Brands and Anywhere Advisors knows that the legal landscape for real estate in 2025 will continue to be a challenge.
As the principal broker for a RE/MAX franchise in coastal Cannon Beach, Oregon, Alaina Giguiere’s typical responsibilities include marketing homes for sellers, touring homes with buyers, generating new business leads, managing client relationships, and drafting and reviewing contracts with buyers and sellers. According to ALTA, in the U.S.,
Before that Yankowski was president and CEO of Executive Title Insurance Services. There, Allen developed strategies for capital markets clients including Morgan Stanley and Deutsche Bank , as well as managed engagements and provided solutions for FHFA , OCC , HUD , Freddie Mac and others.
All facets of real estate transactions, from appraisals and advice to financing and insuring, are highly regulated. Trying to innovate using an end-around will likely not only fail in the long run, but it may also land you in legal hot water. At this point, you need clients. But are you doing it within the rules? Very regulated.
“And since there’s no limit to the number of documents you can execute through QuickSign, organizations can use it for sales contracts, legal or human resource documents as well.” This trend became a necessity during COVID-19 when real estate and title professionals found many that of their clients wanted to do business remotely.
I like that title has a legal aspect to it, but I also like that we are able to talk to people and get to know them a bit through their transaction. But I like that there is a balance between legal stuff and people. Luna: I definitely stumbled into it. I was originally interested in doing journalism or law.
Identify business deductions Every business has ordinary and necessary costs, such as office equipment, marketing , accounting, and insurance , that are tax-deductible. For instance, you might also work at a coffee shop, co-working space, and meet clients in their homes. This content should not be considered accounting or legal advice.
Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal. Dave Applegate, a board member since 2020, has been named the company’s chairman. year over year, according to Inside Mortgage Finance data. (The
More than a few real estate agents will roll their eyes and sigh when asked by a client, upon the signing of a sales contract, “What’s next?” Yes, the process of orchestrating the collaboration of lenders, appraisers , home inspectors, one or two real estate agents, a title insurance company, and possibly others is complex.
Clients with current in-process HECM applications will be able to shift their application to a Platinum product if they choose, but it would require some application processes to be revisited. Longbridge is currently engaged in a legal dispute with Mutual of Omaha Mortgage regarding marketing practices that Longbridge alleges are deceptive.
There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. We are no closer to being paid and he had the capital to open up Smart Rate Mortgage,” said a former employee who requested anonymity due to an ongoing legal case.
Kully previously worked at the Department of Housing and Urban Development as a senior attorney, in the legal division at Fannie Mae and as a partner at K&L Gates. For the first HW+ spotlight, we’re featuring Kris Kully, a partner at Mayer Brown. HUD had, and continues to have, so many dedicated experts (unsung heroes!)
She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. After the onset of the pandemic, Gottheim helped ensure the title insurance industry was deemed an essential business. WFG reports its highest volume months ever during Q2 and Q3 of 2020.
More than a few real estate agents will roll their eyes and sigh when asked by a client, upon the signing of a sales contract, “What’s next?” The process of orchestrating the collaboration of lenders, appraisers, home inspectors, one or two real estate agents, a title insurance company and possibly others is complex. in question.
a360inc , a technology solutions provider to law firms, title agencies, mortgage lenders and investors, has acquired ProVest , a market-leading service of process and litigation information services provider to the creditors’ rights legal industry. a360inc says it will use the capital for innovation and to enhance service offerings.
In its July 21, 2020, statement of charges, NYDFS alleged that First American Financial, one of the country’s largest title insurers, failed to properly respond to a security vulnerability on its website. Mortgage lenders should retain, or at a minimum identify, competent cybersecurity counsel before cybersecurity issues arise.
Dahlhausen added that working as a loan officer is an opportunity for real estate agents to ”control the transaction” and ”ensure that the client is being taken care of” while increasing their compensation. Working as both an LO and agent was a way to better serve his clients, he said. For example, Realfinity pays LOs 1.4%
The objective is to build relationships, understand the needs of potential clients, and position yourself as a go-to resource when they are ready to buy or sell real estate. This includes using social media, email marketing, online advertising, and maintaining a professional website to attract and engage potential clients.
The company also canceled health insurance coverage retroactively to May 1, resulting in several lawsuits against the lender. This information helped us to offer principled advice to our clients regarding settlement decision making,” plaintiffs’ attorneys wrote in court filings.
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