The Escrow Institute of California issues their white paper on the topic of title agent vetting. The paper outlines the group’s position against third-party vetting companies like Secure Settlements, Inc., arguing that escrow agents in California are subject to more than sufficient regulatory oversight already. Escrow Institute of California Secure Settlements is a third party…
On April 13, 2012, the CFPB authored a benign looking guidance bulletin known as CFPB Bulletin 2012-03 to amplify their expectation that supervised banks and nonbanks should have an effective process for managing the risks of service provider relationships. Now, there are third party vetting companies that have established themselves under the guise of helping…
EARLY BIRD NOTICE Louisiana Association of Independent Land Title Agents 2012 2nd ANNUAL FALL MEETING AND SEMINAR Friday, November 15 and 16, 2012 The Ritz-Carlton, New Orleans, Louisiana 921 Canal Street, New Orleans, Louisiana AGENDA …
Right now, some of the biggest banks in the United States are making plans (or have executed plans) to send their refinance business exclusively to a small and select list of national title companies underwritten by the largest title insurance underwriters in the country. For many of you, that means the potential loss of banking…
The Consumer Financial Protection Bureau has just released today a notice of proposed rulemaking to modify the HUD-1 Settlement Statement and mortgage disclosures associated with real estate closings involving federally-related mortgage loans. In other words, this is the change that everyone will have to comply with. To view the proposal please click here: A detailed summary…
The Consumer Financial Protection Bureau “CFPB” released the “Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act“ (Regulation Z) proposed rule today. The CFPB is asking the public to comment on the rule on or before November 6, 2012 with the exception of 12 CFR 1026.1(c) and 1024.4 in which comments are…
NAILTA’s President was interviewed in the Washington Post relative to the Edwards decision. Click below for the article:
supreme-court-dismisses-case-over-whether-plaintiffs-must-show-harm-to-sue
06-28-2012 Yesterday, the United States Supreme Court (“SCOTUS”) issued its long-awaited decision in the Edwards v. First American Title case. The Court, in a 9-0 decision, dismissed First American’s appeal as having been improvidently granted. Procedurally, the decision results in the case returning to the U.S. District Court in California where a class action complaint consisting of two…
The U.S. Supreme Court announced today that it will announce its decision in the Edwards v. First American case and the health care cases on Thursday, June 28, 2012 at 10am. We will have a copy of the decision and some thoughts on its impact at that time. To follow the decision, please visit SCOTUSblog…
As reported at Source of Title: “County attorneys for 14 of Kentucky’s 120 counties have jointly filed a class action suit against MERS and dozens of MERS shareholders, including title industry organizations such as ALTA, First American, and Stewart. The lawsuit accuses MERS of negligent and/or willful violation of Kentucky recording laws, fraud, unjust enrichment,…
