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New York moves to allow title insurance for state land deals

Housing Wire

New York may soon allow title insurance for state land purchases, a shift that could streamline conservation efforts and resolve longstanding property disputes. Proposed changes New York is currently the only state that does not accept title insurance for government land purchases. The change, which was included in Gov.

Insurance 317
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Georgia looks to protect residents from title theft with new law

Housing Wire

Under the new law, if a deed or mortgage is filed with the clerk of a superior court for recording by a self-filer i.e., a person who is not an insurance agent, attorney, bank or credit union agent, mortgage lender or servicer, land surveyor or public official it must be submitted via electronic filing.

Law 397
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Treasury halts business ownership information reporting

Housing Wire

The American Land Title Association (ALTA) noted that title insurance companies were already exempt from the BOI reporting requirement due to the rules exemption for state-licensed insurance producers. FinCEN began accepting BOI reports from new and existing companies in January 2024. This rule, which goes into effect Dec.

Business 370
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Risk Exposure in the Title Insurance Space 

Appraisal Buzz

First American Financial Corporation , a provider of title, settlement and risk solutions for real estate transactions, has published a data-driven analysis of the vital role that the title insurance industry plays in protecting the smooth functioning of the real estate economy in the United States.

Insurance 384
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First American: Title Insurance Industry Mitigates More Than $600 Billion in Risk Per Year

Appraisal Buzz

The title insurance industry mitigates more than $600 billion in estimated risk exposure annually for home buyers, according to a report from First American. It is the industry’s efforts to mitigate title risk exposure that maintains the reliability and accuracy of property ownership records underpinning the real estate economy.

Insurance 370
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Mortgage insurer credit ratings shouldn’t be harmed by recent natural disasters

Housing Wire

Fitch Ratings reported this week that recent natural disasters that have damaged thousands of homes and businesses including the Southern California wildfires and hurricanes Milton and Helene in the Southeast are not expected to heavily impact paid claims experience or credit ratings for mortgage insurers.

Insurance 370
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Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions

Housing Wire

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.

Mortgage 418