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Title Insurance Industry & Technology News 5/31/17
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Compliments of Marianne Mathieu
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Adirondack land tangle finally unwound at Raquette Lake
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Times Union - New York State Department of Environmental Conservation (DEC) Commissioner Basil Seggos signs his name to maps that show the new State and private boundaries during an event in the Adirondack Room at the New ...
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Keeping Your Place in Line: Title Insurance Protections for Construction Loan Disbursements
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Lexology - Most construction loans contemplate multiple advances or disbursements of funds at various stages of the construction project. The construction loan agreement will set forth the conditions that the borrower must satisfy to receive each advance of funds. Given that a construction loan concerns an active construction project, there is a risk that a lender could lose its lien priority in an advance (secured by the insured mortgage) to a mechanic’s lien.
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Minnesota's crackdown on gifts is unsettling the title industry
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Star Tribune - For Twin Cities real estate agents, the gravy train was easy to catch. Happy hour at Cowboy Jack’s. Dinner at Manny’s Steakhouse. Free tickets to a Twins game. The perks were an essential part of the marketing strategy at Liberty Title, an Anoka company that has been spending heavily to compete for referrals in the obscure world of title insurance, a surprisingly cutthroat business that has drawn the attention of regulators in Minnesota and across the country.
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Analysis: The NY Times’ Slam on Homeownership
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National Mortgage Professional Magazine - Yesterday’s print edition of the New York Times Magazine featured the article “How Homeownership Became the Engine of American Inequality” by Matthew Desmond, a Harvard scholar and the author of the Pulitzer Prize-winning “Evicted: Poverty and Profit in the American City.” While the Times’ increasing shift to the political left in its sociopolitical coverage has become more pronounced since the debut of the Trump Administration ...
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Reverse Mortgage Daily - The Pew Research Center made a splash back in March with
data that showed the fastest divorce-rate gains over the last 25 years belonged to Americans 50 years or older: 10 out of every 1,000 married people in that age group divorced in 2015, as compared to just 5 out of 1,000 in 1990.
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FBI warns of surge in wire-transfer fraud via spoofed emails
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Reuters - Attempts at cyber wire fraud globally, via emails purporting to be from trusted business associates, have surged in the last seven months of 2016, the U.S. Federal Bureau of Investigation said in a warning to businesses as it bid to curb such crimes.
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But the warnings are not being heeded:
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Better Call Behnken: Clearwater homebuyers scammed of down payment when real estate agent hacked
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WFLA NBC News Channel 8 - Sean Vinson and his girlfriend are settling in to their new condo. But, the first time homebuyers learned the hard way, choosing real estate professionals doesn’t mean you won’t get scammed. The couple are out their $10,000 down payment and had to scramble to get family to help them come up with a second down payment so they would not lose the Clearwater condo they wanted so badly.
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KARE 11 Investigates: Email scam targets homebuyers
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KARE 11 NBC - A Minnesota couple lost more than $200,000 in a sophisticated email scam authorities say is sweeping the country. Email records reviewed by KARE 11 reveal the scam may have connections overseas. “People in other countries are using our system – our banking system – to rob U.S. citizens,” says Steve Tadevich.
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$655 Million Worth of New Construction Homes to be Funded Using the First Real Estate Token on Blockchain
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Dallas News - Dallas-Fort Worth is the hottest market in the country for new homes. Last year, homebuilders in North Texas started almost 30,000 houses — more than any other U.S. market. Maybe that's why a big Chinese investor is pumping $655 million into the D-FW housing market in a deal with a local builder.
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Where Does One Find Bitcoin to Pay the Hacker When Your Computer is Locked? An ATM, Of Course!: Cybersecurity Trends
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JD Supra - Needless to say, cybersecurity and its challenges have become even more of a hot topic than ever, with ransomware stories becoming more prevalent (here are
two
stories we’ve covered in just the last two weeks). If you want to learn more about how to prevent ransomware attacks, read below. Regardless, based on a recent article, the currency used to pay those hackers their ransom is easier to come by than ever.
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DocuSign Breach Leads to Email Malware Campaign Requesting Wire Transfers
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JD Supra - Electronic signature technology company DocuSign has admitted that it suffered a breach of one of its computer systems resulting in stolen data including customer and user email addresses. The breach has allowed the hackers to target DocuSign customers and users to send phishing emails requesting wire transfers. This is particularly concerning since so many companies use DocuSign for electronic signatures and employees may not be alert or wary of receiving an email from DocuSign requesting authority to transfer funds.
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To Get Better at Managing Your Time, Borrow a Training Strategy from Elite Athletes
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Science of Us (NYMag.com) -
This week, Science of Us is exploring time: what makes it feel like it’s speeding up or slowing down, how we learn to tell the difference, and how we can learn to control it either way.
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Here's how much money you forfeit when you don't take your vacation days
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CNBC - When you don't use your paid time off, it ends up costing you. Not only are you more likely to be stressed and feel overworked, you lose out on the monetary value of those forfeited days — the ones that can't be rolled over or paid out.
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The meaning of life in a world without work
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The Guardian - As technology renders jobs obsolete, what will keep us busy? Sapiens author
Yuval Noah Harari examines ‘the useless class’ and a new quest for purpose
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Conferences: How Prepared Are You To Make The Most Of Them?
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Mortgage Orb - Like the swallows returning to Capistrano, most of us have annual pilgrimages that mark the seasons. We call them conferences. The mortgage industry is fortunate to have some of the best annual conferences of any business sector in the country. There are a variety of conferences each year hosted by regional and national trade associations, such as the Mortgage Bankers Association (MBA); focused vendor conferences such as Black Knight’s annual Information Exchange (one of the best conferences each year); and independent conferences, including the Five Star Conference in Dallas.
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The Sad History of Hydrox Cookies, Which Were Probably Doomed Because They Were Called Hydrox
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Atlas Obscura - When you think of dark sandwich-like cookies with a creamy white center, you probably think of Oreos, in part because Nabisco is so good at marketing. But if you take a look off to the side in the grocery store you might see one brand in particular that, in fact, was invented four years before Oreos—a cookie brand that looks remarkably similar. That brand would be Hydrox, the second banana of the cookie aisle, which these days simply can’t compete against the marketing juggernaut that is Oreo, even if it did get a bit of a head start.
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Title Agents Go Nationwide
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For agents interested in growing their businesses by expanding into multiple states, we’re here to make the process simple and profitable. We offer you one point of contact to streamline your options and solutions.
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Marianne Mathieu, NTP
Vice President/National Agency Accounts
Fidelity National Title Group
347-987-0677
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