Housing Wire

MARCH 24, 2022

The Federal Housing Administration insured thousands of mortgages in 2020 without the mandatory flood insurance coverage. According to the watchdog, at least 31,500 FHA-insured loans insured did not have the required National Flood Insurance Program coverage. The potential loss on these loans could amount to $1.5

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Housing Wire

APRIL 14, 2022

Fannie Mae generated some buzz last week when it announced it would be accepting written attorney opinion letters in lieu of a title insurance policy “in limited circumstances.”. Title insurance came to be because attorney title opinions were not adequate for the marketplace.

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Insurance Renovations Real Estate Law 391

Housing Wire

FEBRUARY 26, 2024

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average. It’s causing buyers to rethink their plans.”

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Housing Wire

JUNE 12, 2024

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.

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Housing Wire

DECEMBER 5, 2022

As the mortgage rate environment became increasingly volatile in August and early September, one in three title insurers reported order volume that was below or far below average. The vast majority of respondents (82%) work at independent title companies or law firms and 67% have 25 or few employees at their organization.

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Housing Wire

OCTOBER 24, 2024

states that the insured “shall not give or receive, directly or indirectly, any consideration for the referral of title insurance business or escrow or other service provided by a title insurer.” My office is committed to ending illegal kickback schemes in the title insurance industry,” Schwalb said in a statement.

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Housing Wire

SEPTEMBER 6, 2024

For more than two years, a storm has been brewing in the title insurance industry. As part of the settlement, the firms agreed to end the practice of giving real estate agents consideration for the referral of title insurance business, and they will cease their title insurance operations in Washington, D.C., Although the D.C.

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Appraisal Buzz

SEPTEMBER 25, 2024

On May 30, 2024, the Supreme Court of the United States (SCOTUS) issued its opinion on a matter of far-reaching consequence—whether the National Bank Act preempts a New York State consumer financial law requiring payment of interest on mortgage escrow accounts in the case of Cantero v. Nelson, Florida Insurance Commissioner, et al.,

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Appraisal Buzz

OCTOBER 1, 2024

Last year, National General Lender Services published an article highlighting that secondary perils, such as severe convective storms, wildfires, and river floods, are significantly impacting the insurance industry. Coupled with reforms in the state’s insurance code, the Florida insurance market is moving toward a more stable foundation.

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Housing Wire

AUGUST 6, 2021

The company, one of the “Big Four” title insurers, agreed to pay a $1.185 million penalty after California state regulators alleged that a marketing representative provided agents illegal perks such as video marketing and drone footage of listings with placement on social media sites, and bus caravans to promote listings.

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Agents Real Estate Agent Insurance Real Estate 459

Housing Wire

MARCH 25, 2024

Illinois-based State Farm General Insurance will not renew 30,000 residential property insurance policies in California , as well as 42,000 commercial apartment policies in the state, the company announced last week. The insurance carrier will continue to collaborate with Gov. It is necessary to take these actions now.”

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Housing Wire

MARCH 22, 2021

The Insurance Commissioner for the state of Washington apparently concluded that Modus offered real estate agents and their clients a “thing of value,” such as free home warranties, other closing-related services, in exchange for switching their escrow and title services to Modus.

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Housing Wire

APRIL 5, 2022

Today, the law is not yet clear on whether or not virtual land in the Metaverse is “actual” real estate. There is no public guidance from state or federal regulators at the time of this writing as to whether mortgages for virtual real estate are governed by traditional laws and regulations that govern traditional mortgages.

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Housing Wire

JUNE 14, 2024

The White House on Thursday nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corp. By nominating an individual to the FDIC Board who lacks state bank supervisory experience, the White House, once again, has ignored the requirements of the Federal Deposit Insurance Act,“ Lawson said.

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Housing Wire

OCTOBER 9, 2023

AI-generated image of two lawyers scrutinizing title insurance joint venture agreements. Regulators are bearing down The stakes are high for title insurance firms that have joint ventures operating in the gray areas of the law. Many states have their own laws that prohibit kickbacks for referrals, like RESPA does.

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Housing Wire

SEPTEMBER 27, 2023

Many of these laws target specific types of real estate deemed crucial to national security, such as farmland or property near military installations, while other laws apply more broadly to all types of land. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

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Housing Wire

JANUARY 19, 2023

Title insurance is one such proven product with a long history of protecting homeowners’ right to property. Before title insurance, property rights were not guaranteed. But in 1868, a Pennsylvania Supreme Court decision led to the codification of the incorporation and regulation of title insurance companies into law.

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Insurance HOA Real Estate Law 463

Housing Wire

JANUARY 19, 2022

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents.

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Real Estate Agent Real Estate Agents Insurance 459

Appraisal Buzz

OCTOBER 14, 2024

Matt Collins has joined Westcor Land Title Insurance Company as underwriting counsel, as part of the Southwest regional team. Collins’ diverse career includes over 35 years practicing law with extensive experience in real estate transactions, title disputes, recoupment, and creditor bankruptcy representation, Westcor says in a release.

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Housing Wire

SEPTEMBER 28, 2023

Kathy Hochul (D) last week signed a bill into law that establishes a flood risk “right to know” for homebuyers. This legislation eliminates the ‘credit provision’ and requires the disclosure of information concerning flood risk, flood history, and flood insurance on real property transactions.”

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Housing Wire

DECEMBER 2, 2024

These include laws “prohibiting apartment buildings in areas with single-family homes, [which] have made accessible housing options harder to find in many of the communities boomers have called home for decades,” the article states. . “There’s a lot of people in the middle, homeowners included, who are stuck.”

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Housing Wire

MARCH 14, 2022

in which title insurance companies are required by law to file reports identifying individuals who made all-cash real estate purchases exceeding $300,000 through shell companies. As the regulations currently stand, it falls on title insurers in the 12 GTOs to report these all-cash transactions. According to ALTA, in the U.S.,

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Housing Wire

JULY 22, 2021

Former CoreLogic executive Rouz Tabaddor has been named vice president and chief intellectual property officer at title insurance provider First American Financial Corp. — Tabaddor has more than 20 years of experience practicing law — with an emphasis on intellectual property, litigation, privacy, licensing, and audit and enforcement.

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Housing Wire

JANUARY 19, 2021

The Consumer Financial Protection Bureau issued a final rule Tuesday clarifying that supervisory guidance is not backed by the same force as law or regulation. The agencies included the Federal Reserve Board , the CFPB, the Federal Deposit Insurance Corp.,

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Housing Wire

FEBRUARY 12, 2024

FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp. Institutions are required to comply with laws and regulations, including anti-discrimination laws,” the statement read.

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Housing Wire

JULY 3, 2024

Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing.

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Housing Wire

NOVEMBER 22, 2023

FNF blocked access to certain systems, which resulted in disruptions to title insurance, escrow and other title-related services, as well as mortgage transactions and technology for the real estate and mortgage industries, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday.

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Housing Wire

JANUARY 28, 2021

Rentals listed on Zillow will now show whether or not they lie in a jurisdiction with local laws protecting renters from discrimination based on the use of Housing Choice Vouchers. The app also lists any local laws protecting renters who use veteran’s benefits or Social Security insurance payments to pay their rent.

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Landlords Tenants Law Legal 488

Housing Wire

DECEMBER 7, 2020

These servicing standards are more comprehensive than existing law and will be in place for three years starting on Jan. Failed to timely disburse borrowers’ tax payments from their escrow accounts and failed to properly conduct escrow analyses for borrowers during their Chapter 13 bankruptcy proceedings.

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Housing Wire

JANUARY 15, 2025

Federal classification While laws across several U.S. Prior to the 2023 incident, Kemp explained that his health provider began requiring only private insurance, which prevented him from getting prescriptions. The conflicting State and Federal law presents a challenge to administer a federally funded Housing Choice Voucher Program.

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Housing Wire

DECEMBER 7, 2021

in which title insurance companies are required by law to file reports identifying individuals who made all-cash real estate purchases exceeding $300,000 through shell companies. According to the Biden administration, the aim of this regulation would be to crack down of individuals using the U.S.

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Housing Wire

OCTOBER 25, 2021

According to a source, the expectation from the mortgage industry is that the governor will sign the bill – if so, it will become law 90 days later. Supporters of the law cite Massachusetts as a model for reform. Illinois passed a law in March expanding the CRA law to nonbank lenders but it is still working on the rules.

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Housing Wire

JANUARY 14, 2025

His goal is also to have permits approved within 30 days, and the order directs agencies to waive regulations related to state environmental laws. As many insurance companies have pulled back on issuing policies in the area, some residents may not be able to get home insurance. The two orders come with restrictions.

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Housing Wire

OCTOBER 27, 2021

risk findings per loan, across risk metrics such as licensed parties, wires, CPL data accuracy and CPL validity with title insurers. Additionally, insurance costs continue to rise for errors and omissions insurance and professional liability. increase in CPL/agent validation errors with title insurers, and a 12.8%

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Housing Wire

AUGUST 29, 2024

Four title insurance firms have agreed to pay nearly $3.3 code, as the federal law governing these businesses, the Real Estate Settlement Procedures Act (RESPA), allows for affiliated business agreements that meet certain criteria. million, $1 million, $325,000 and $65,000, respectively. However, due to D.C.

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Real Estate Agent Insurance Real Estate Law 294

Housing Wire

APRIL 24, 2024

“Since mortgage borrowers are captive to a company they never chose to do business with, we are working hard to detect and deter violations of law.” The agency also asserted that deadlines to pay property taxes and homeowners insurance were impacted.

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Housing Wire

JUNE 13, 2024

Additionally, unless there is “specific insurance coverage for stolen funds and all requirements to coverage in an insuring contract are satisfied, a claim for damages will be denied.” In one of the cases cited by CertifID ( Otto v.

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