Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 11/01/17
Compliments of Marianne Mathieu
Industry News
Real Property, Financial Services, & Title Insurance Update: Week Ending October 20, 2017
Carlton Fields -
Real Property Update:
Condominium / Appurtenances
Tax Liens
Littoral Rights
Financial Services Update:
Title Insurance Update
Title Agency Agreement Salvage
Real Property Update
Ad Valorem Taxes
Deficiency Judgement / Attorneys' Fees
Many More!
New NYS Regulations Seek To Reign In Title Insurance Marketing Practices
JD Supra - The New York State Department of Financial Services (DFS) has announced new regulations aimed at reforming various title insurance industry practices, including practices involving title company and agency marketing expenditures and “inducements” (such as meals and entertainment) for the purpose of obtaining title insurance business. 

Video: Get the 411 on the ALTA Registry
ALTA (American Land Title Association) presents a video regarding information on the ALTA Registry.

10 Must Reads for the CRE Industry Today (October 30, 2017)
National Real Estate Investor - Maryland’s attorney general is investigating one of the Kushner family’s real estate businesses, reports CNN. U.S. consumer spending grew at the fastest pace in September since 2009, according to Reuters. These are among today’s must reads from around the commercial real estate industry.

Parents are refinancing their homes to help their kids win ‘bidding wars’
Realty Biz News - An article in the Wall Street Journal sheds more light on the tactic, which involves parents refinancing their homes and then using some or all of that equity in order to finance their kids’ own home purchase. In many cases, once the kids have finished buying their home, they’ll then refinance that property in order to pay back mom and dad.

Understanding DFS Regulation 208
NYSLTA - The Government Regulations Committee has issued a memorandum on DFS Regulation 208. This document may be accessed in the Government Regulation Committee File Library on the Member web site. The document is titled Reg 208 Bulletin 10-30-2017. Members must be signed in to access the file.

Yes, but will title insurance companies ever insure it?
The Real Deal - A new private equity fund specializing in marijuana business is actively seeking investors and property in Los Angeles, Las Vegas and Midtown Manhattan. Officially known as MedMen, the fund is making waves thanks to its co-chairman Chris Leavy, former chief investment officer of fundamental equities at BlackRock. MedMen’s goal for Opportunity Fund II is to raise $250 million.

Legal News
Title Insurance Covers That Foreclosure Problem, Right?
JD Supra - In the minds of many buyers of distressed properties at foreclosure sales, the existence of ANY title insurance policy relating to the property — even if the buyer is not the insured — is seen as a “cure-all” for anything that might go sideways regarding the property’s state of title after the sale. That’s far from the truth.

Nevada Federal Court Reverses Bankruptcy Court and Holds Title Insurance Company May Bring Bankruptcy Claim 
Lexology - The United States District Court for Nevada recently reversed a bankruptcy court’s decision and held that a title insurance company’s bankruptcy claim was not barred by the doctrine of claim preclusion because, among other reasons, it was not a party to the underlying state court action. 

Tech / Social Media
Privatised Land Title Offices Can Harness New Technologies to Provide a Better Service
EconoTimes- It’s highly likely that all Australians buying or selling property or subdividing land will soon be dealing with privately operated land title registries. Both sides of politics in Australia appear supportive of privatising these registries and it is happening fast.

What are your thoughts on “The Billion Dollar CRE Tech Idea That You Won’t Execute”
CRE.TECH - As usual a bold and ridiculous statement for me right? What possible billion-dollar tech idea might I have that no one else has thought of and executed? And if it is an original idea why don’t I just go do it and not give it to the entire world?

At least in this version of the future of real estate closing, Title Insurance is still in use
Credit Union Times - We are at the dawn of driverless cars, and that means car ride services will soon replace many cars and their associated car loans. Lending services such as Rocket Mortgage, which says it can approve a mortgage loan in eight minutes, have forever changed consumer expectations on convenience and speed in the lending process.

A letter to…And anyone else still struggling to understand cryptocurrencies
Chain - Dear Jamie, My name is Adam Ludwin and I run a company called Chain. I have been working in and around the cryptocurrency market for several years. Last week you said a few things about Bitcoin:

Title company performs Washington’s first ever online notary closing
HousingWire - Stewart Information Services Corp., a real estate services company, announced last week it completed Washington’s first ever online notary closing.

In Other News
Fake News just got easier to create. After you listen to this podcast you won’t be able to believe what you hear anymore.
Radiolab Podcast Articles - Simon Adler takes us down a technological rabbit hole of strangely contorted faces and words made out of thin air. And a wonderland full of computer scientists, journalists, and digital detectives forces us to rethink even the things we see with our very own eyes. 

BankThink ‘Fearless Girl’ is more than just public art: Maria Vullo
American Banker - What is it about the Fearless Girl statue? For months, steady streams of people from around the world have been visiting the girl who stares down the famous bull sculpture in Manhattan’s financial district.

The Best Wine to Drink With Your Favorite Halloween Candy
Coastal Living - Trick your celebration out with a wine that's perfectly matched to your candy crush. Whether you crave Snickers, Whoppers, or Starbursts, we've got the best vino pairing and recommendations on great bottles.

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.

Marianne Mathieu, NTP
Vice President/National Agency Accounts
Fidelity National Title Group