Title Insurance Industry & Technology News and Events 07/25/18

Industry & Technology news compliments of Marianne Mathieu

Title Insurance Industry & Technology News 07/25/18

Compliments of Marianne Mathieu

Industry Events

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Industry News

Bitcoin-Only Real Estate Deals on The Rise

WVXU - Using only bitcoin, 20 homes have been sold worldwide, and that number looks to get bigger. In fact, the Miami, Fla., real estate agent that brokered two of those deals, Stephan Burke, says cryptocurrency will make up 25-30 percent of real estate sales in five years.

Decade After Crisis, a $600 Trillion Market Remains Murky to Regulators

The New York Times - In the maze of subsidiaries that make up Goldman Sachs Group, two in London have nearly identical names: Goldman Sachs International and Goldman Sachs International Bank.

How the West Was Won: Reverse Mortgages’ Left Coast Dominance

Reverse Mortgage Daily - Month after month of data show Western states — particularly Colorado and Washington state — as hotbeds for reverse mortgage activity, and local originators say multiple factors make these locations ripe for volume.

Did the Feds clean up Miami's dirty real estate market?

Housing Wire - Buyers may be substituting new ways to buy property

Notice and opportunities to comment

CFPB (Consumer Financial Protection Bureau) - Check here for notices and opportunities to comment posted by the Bureau of Consumer Financial Protection (BCFP). These requests can include: proposed rules, requests for information, and Paperwork Reduction Act notices that give the public an opportunity to comment on certain planned or existing reporting, record keeping, and disclosure requirements.

Legal News

Amrock Says $706 Million Verdict Brought Out the Whistle Blowers

Bloomberg - One of the biggest trade secrets cases in U.S. history took a bizarre turn, with the company that lost a $706 million jury verdict saying it uncovered "bombshell" evidence of fraud thanks to whistle blowers who used to work for the winning side.

Real Estate Lawyer comments on Illinois Appellate Decision finding Title Insurance Company not responsible for damages

EIN News Desk - Though it took 18 months to clear liens, Title Insurance Company not liable; this will affect real estate transactions where lien is discovered after closing.

South Carolina Department clarifies confusing change in its new Insurance Data Security Act

JD Supra - As reported, the NAIC adopted a model law for the protection of the data and systems used by the insurance industry, and South Carolina became the first state to enact legislation based on the NAIC model.

Family feud in Brule County: Ranch disputes lead to multiple court cases

The Daily Republic - A Brule County man is upset about what's happening with his family's 99-year-old barn, and he's taking any means necessary to try to save it.

Michigan Remote Electronic Notarization Law

JD Supra - A new Michigan law may streamline real estate transactions by allowing remote electronic notarization.

DOJ Fraud Task Force: What It Means for Financial Services

Lexology - Manatt Phelps & Phillips LLP logo

With the July 11 announcement by Deputy Attorney General Rod Rosenstein of the new Department of Justice (DOJ) Task Force on Market Integrity and…

Nevada Courts Provide Additional Guidance on HOA Super Priority Lien Law for Lenders

JD Supra - As we’ve discussed on this blog before, Nevada’s courts remain a battleground for lenders seeking to establish that their security interests were not eliminated by homeowners’ association foreclosure sales under NRS 116.

Tech / Social Media

While Cyber Criminals Continue to Target Real Estate Transactions, Take These Protective Measures

Forbes - John Dillinger, Jesse James, Bonnie and Clyde — these were some of the most notorious thieves in U.S. history. But for as much as these gangsters stole, they don’t hold a candle to the amount of money that can be lost due to acts of faceless online criminals.

Redfin Stock: Why This Real Estate Company Could Be the Next Big Disruptor

Profit Confidential - Right now there’s a company that has its sights on disrupting the way real estate is transacted—similar to how Amazon.com, Inc. (NASDAQ:AMZN) disrupted the way people buy consumer goods.

Case Study: Breaking into the Title Insurance Marketplace

Adaptik - Learn how Adaptik allowed a major carrier to make inroads within the hard-to-penetrate title insurance market.

Knotel acquires 42Floors in order to build the blockchain of property

Tech Crunch - Another day, another blockchain project. This time sources are reporting that Knotel – an office space rental service in Manhattan – has acquired 42Floors.

Title Agency & People in the News

Notarize, Title Resources expanding digital notarization

Housing Wire - This partnership expands Notarize's online closing services to nearly 265 million Americans across 38 states and the District of Columbia. The new states include Michigan, New Mexico and Wisconsin, according to the company.

Title Agents Go Nationwide

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.