Title Insurance Industry & Technology News 05/16/18
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Compliments of Marianne Mathieu
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Look for
NEW events posted since the last issue!
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Education & Networking Events by Region:
- Northeast: CT, MA, ME, NH, NY, RI, VT
- Mid-Atlantic: D.C., DE, MD, NJ, PA, VA, WV
- Midwest: IA, IL, IN, KS, MI, MN, MO, NE, ND, OH, WI, SD
- Southeast: AL, AR, FL, GA, KY, LA, MI, NC, SC, TN
- Southwest: AZ, NM, OK, TX
- West: AK, CA, CO, HI, ID, MT, NV, OR, UT, WA, WY
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Smaller Loans Could Address Housing Shortages
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DS News - Low housing inventory and climbing home prices have been the source of numerous studies and headlines, and they are prominent issues impacting housing markets across the nation.
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As Unemployment Drops, What does it mean for housing?
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MReport - Friday, the Bureau of Labor Statistics reported that the unemployment rate in April fell to 3.9 percent, its lowest in 18 years. However, the job growth itself was lukewarm and below expectations at 164,000, coming off an average monthly gain of 191,000 over the prior 12 months.
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Mnuchin: GSE reform isn’t happening in 2018
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Housing Wire - Back in September, during a Politico Policy Summit in Washington, U.S. Department of the Treasury Secretary Steven Mnuchin said GSE reform would be addressed in 2018.
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GSE Reform’s Impact on Housing
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M Report - A new research published by the Urban Institute’s Housing Finance Policy Center looks at what the current administration will likely do to administratively reform Fannie Mae and Freddie Mac as the time for legislative reforms runs out. It found that there were considerable risks on this path including potentially serious disruption of the housing and mortgage markets.
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Mortgage Demand Down at Big Banks, Up at Small
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Mortgage Daily - Although demand for several single-family products has softened at larger financial institutions, smaller ones are seeing growing demand -- especially on non-agency loans. It was similar for commercial real estate.
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Fraud and Forgery: From Vintage Violins to Today’s Real Estate Transaction
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JD Supra - Fraud has a long history. In a recent blog in the Orchestrating Real Estate Series, New Things to Consider in Section 1031 after the Tax Cut and Jobs Act of 2017, I discussed how famous violin maker Jean-Phillipe Vuillaume started his career in a violin forger’s shop, only to become a violin maker whose work was so valued that it, ironically was forged by others.
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The Next Generation of Professionals in Mortgage and Housing
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DS News - The makeup of the American workforce is changing. Multiple distinct generations are currently filling out the employee rosters of most American businesses: the Baby Boomers approaching retirement, Generation X already well into their career trajectories, and the Millennials still relatively early in their careers.
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Public deserves answers in $700 million Texas lawsuit
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mySA - On Friday, a San Antonio court heard arguments on whether to seal key portions of the trial record in a lawsuit involving a landmark trade-secret award of $706.2 million — one of the largest intellectual-property (IP) verdicts in the country so far this year. The judge denied the motion to seal.
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Insurance Industry Cybersecurity Law Moves Closer to Becoming a Reality
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JD Supra - The insurance industries in South Carolina and Rhode Island may soon be required to adopt formal data security safeguards, a movement sparked by the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law.
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Real Property, Financial Services, & Title Insurance Update: Week Ending May 11, 2018
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Carlton Fields -
Real Property Update:
Summary Judgment
Foreclosure / Standing
Leasing / Exculpatory Clause
Condominiums / Summary Judgment
Homeowner's Association Prevailing Party
Financial Services Update:
FDCPA / BAPCA / FCRA and FDCPA
FDCPA and TILA / FCRA and FAA
Title Insurance Update:
Negligence
Bankruptcy
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1st Circuit Addresses Statute of Limitations in Connection with Mistaken Property Description on Mortgage
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JD Supra - The First Circuit recently held that a trustee’s action to recover damages against a closing agent and title insurer on behalf of the trust due to their alleged negligence in misidentifying a parcel of land secured by a mortgage was barred by Maine’s general statute of limitations, but the trustee’s claim against the title insurer under Maine’s Unfair Claims Settlement Practices Act (“USCPA”) was timely.
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Wisconsin Passes New Mortgage Payoff Requirements
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JD Supra - The Wisconsin State Assembly recently passed a bill amending the current law regarding mortgage payoff statements. Under the new law, a secured creditor now has options to qualify a payoff amount, provided that the interest being secured is not in residential real property.
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New Internet frontier: you can defame through your WiFi name
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JD Supra - Defamation by tweet isn’t news anymore, but surely a new barrier was broken when the Idaho Supreme Court found potential defamation in the name a family gave to their home wireless network.
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LinkedIn Layout Changes and Feature Updates: What Marketers Need to Know
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Social Media Examiner - When was the last time you updated your LinkedIn profile? Are you taking advantage of all of the LinkedIn features available to you?
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Title Agency & People in the News
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Florida Agency Network and Cottrell Title & Escrow Join Forces Bringing Statewide Solutions
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Cision PR Newswire - Florida Agency Network (FAN) is joining forces with Cottrell Title & Escrow located in Naples, Florida. This partnership amongst independently-owned title insurance agencies aims at expanding the organization's footprint into certain key Florida markets.
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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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The Largest Export of Every U.S. State in 2017
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Visual Capitalist - Last year, the U.S. exported $2.3 trillion worth of goods to international customers.The country’s main exports are exactly what one would expect, with categories like aircraft, refined petroleum, vehicles, vehicle parts, and computer chips constituting the biggest chunk of overall goods.
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A story involving that other kind of title insurance
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27East.com - A “dark story” may finally get a happy ending. In a lawsuit dating back three years, a State Supreme Court judge ruled last month that two Nazi-looted artworks by expressionist Egon Schiele must be returned to the heirs of an Austrian Jewish Holocaust victim whose art collection was systematically stolen by Adolf Hitler’s army in 1938...
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The Spirit That Crosses the Equator Twice Before It Hits Your Glass
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Atlas Obscura - Bottles of Linie Aquavit have made a winding sea journey for centuries.
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Long Island police rescue 14 ducklings from storm drain
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Pix 11 - Fourteen ducklings were rescued by Suffolk County Police after they fell into a storm drain on Long Island Sunday morning.
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Marianne Mathieu, NTP
Vice President/National Agency Accounts
Fidelity National Title Group
347-987-0677
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