The Edwards Decision

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…

NAILTA Opposes MERS 2.0 Bill

The National Association of Independent Land Title Agents (NAILTA) has issued its most recent position paper on the Mortgage Electronic Registry Systems, Inc. (MERS) and Senator Bob Corker’s S.B. 1834 which would create a federal registry system known as MERS 2.0. While the bill focuses much of its energy to separating the Federal government’s current…

MA Supreme Court Decides UPL Case

The Massachusetts Supreme Court has ruled in a closely-watched lawsuit regarding the role of real estate settlement professionals that attorneys must “substantially participate” in home closings.  Click above for more details. The Real Estate Bar Association (REBA) brought suit against National Real Estate Information Services (NREIS) in November 2006.  REBA alleged that “certain business activities of…

NAILTA Supports Fed Rule on LOs

NAILTA issued a letter to Fed Reserve Chairman Ben Bernanke in support of the Federal Reserve Board’s definition of the term “affiliate” as a single person for the purposes of the loan originator compensation rule set forth in Regulation Z.  Click above for more details.   Recently, NAILTA became aware of comments that were filed by various real estate related trade associations[1] contesting…

FATIC Appeals to U.S. Supreme Court

First American (FATIC) has appealed the Ninth Circuit Court of Appeals decision in Edwards to the U.S. Supreme Court.  Ninth Circuit had sided with Plaintiff and NAILTA, which filed an Amicus in the case. November 30, 2010 – The Edwards case involves the use of captive title insurance agreements by a title insurance underwriter to gain market share in exchange for…

Privity Rule at Issue in Indiana

The Indiana Supreme Court recently held that a title agent not in privity of contract with the insured can be liable to a non-insured on a title insurance commitment. Facts: Texcorp, predecessor-in-interest to U.S. Bank, contracted with the title agent, Integrity Land Title, to perform a title search and issue a commitment and policy in the…