In the latest of a flurry of under-the-wire lawsuits that seem to conflict with an imminent foreclosure fraud settlement, Eric Schneiderman, the Attorney General of New York and a co-chair of the federal task force looking into the residential mortgage-backed securities market, sued three banks for their use of the MERS electronic registry, which resulted…
Consumer Financial Protection Bureau (CFPB) has released the third draft of a new Settlement Statement form that combines TIL disclosures and the HUD-1 to explain final loan terms and closing costs to consumers. There are two drafts of the new, combined form, Butternut and Hemlock. CFPB is again asking for your input on how these final-stage closing forms…
The Source of Title has once again uncovered an interesting story from the American Land Title Association’s past. This time, it has to do with ALTA’s support of a private right of action for competitors to sue an offending settlement service provider under RESPA Section 8. Click here for the full story from SOT. In…
This year, NAILTA is proud to celebrate our fourth annual national convention in Baltimore, Maryland, September 30, 2012 through October 2, 2012 at the Hyatt Regency Hotel – Inner Harbor. We are working hard to obtain presentation and speaker commitments from the following: Consumer Financial Protection Bureau State Department of Insurance Representatives HUD Members of Congress Regional Title Insurance Underwriters Title…
Massachusetts Attorney General Martha Coakley sued five major banks and the Mortgage Electronic Registration Systems over allegedly unlawful and deceptive foreclosure practices. For entire article click here.
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…
To those interested in reading how today’s oral argument in the Edwards v. First American case at the U.S. Supreme Court went, the transcript is now available here!
The Louisiana Association of Independent Land Title Agents (LAILTA) held their inaugural seminar and meeting in Baton Rouge, LA on November 4, 2011, where those in attendance received 6 hours of MCLE for the State Bar Association and 6 hours CE for the Department of Insurance Title Producer License. The Board of Directors were…
Congratulations to all who participated in the formation of the Indiana Association of Independent Land Title Agents (IAILTA). The new Board has since approved unanimously the Bylaws, dues structure and elected the below officers, so they are set to move. Membership applications are now available online by clicking here. The next Board meeting will be held in Noblesville, Indiana…
Duval County Florida County Clerk Jim Fuller, has filed a class action lawsuit against MERS on behalf of Duval County and other counties in Florida. The suit alleges that the bank-owned mortgage registry violates state laws and has cost local governments millions in unpaid recording fees.
