Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 7/12/17
Compliments of Marianne Mathieu
Industry News
U.S. Supreme Court: State Law Merging Lots in Common Ownership Not a Regulatory Taking
JD Supra - In an interesting twist, eight members of the U.S. Supreme Court agreed on June 23, 2017, in the case of  Murr v. Wisconsin, No. 15-214, that state regulations making two adjoining lots held in common ownership into a single parcel did not violate the Takings Clause of the Fifth Amendment of the U.S. Constitution.
How will medical marijuana affect real estate? A lawyer explains
Delaware County News Network - As medical marijuana growers and dispensaries gain state approval, the approaching medical marijuana wave in Pennsylvania will impact other businesses, as well, including the commercial real estate market, as growers and dispensaries rent or buy properties for their businesses.
NY Real Estate Attorneys Play Consumer Protection Role in Changing Era
New York Law Journal - Alan Doran writes: While the traditional responsibilities of real estate attorneys in New York are well understood, new and evolving consumer protection regulations are forcing attorneys to confront new challenges and presenting new opportunities.
New HOA Estoppel Requirements Signed Into Law
Mondaq -Title insurance companies and closing agents handling transactions involving homeowners' and condominium associations have long been frustrated by the timing and cost associated with obtaining estoppel letters from these associations and their management companies. Governor Scott has signed Estoppel Bill SB 398, which addresses these problems and will become effective July 1, 2017.  Here is what you need to know:
Monday Morning Cup of Coffee: Black Knight projects record-high home equity
HousingWire - Black Knight’s latest Mortgage Monitor report finds that rising home prices have both decreased the number of borrowers underwater on their mortgages while increasing the amount of equity available to homeowners.
The 2017 TILA-RESPA Rule
CFPB (Consumer Financial Protection Bureau) - The Bureau has issued a final rule (2017 TILA-RESPA Rule) amending and clarifying certain mortgage disclosure provisions implemented in Regulation Z. To support implementation of the 2017 TILA-RESPA Rule, the Bureau has issued an Executive Summary.

We have also issued a notice of proposed rulemaking regarding when a creditor may use a Closing Disclosure, instead of a Loan Estimate, to determine if an estimated closing cost was disclosed in good faith and within tolerance. The 2017 TILA-RESPA Rule does not make changes or clarifications related to this issue. Comments on the proposal are due 60 days after it is published in the Federal Register.

You can access the 2017 TILA-RESPA Final Rule on the Bureau’s  website.

You can access the proposal on the Bureau’s  website.

You can access the Executive Summary  here.
ALTA and their dedicated Title Action Network members got the job done! CFPB issues wire fraud alert.
CPFB (Consumer Finance Protection Bureau) - Summer is a busy homebuying season. If you’re in the market for a new home this year, watch out for email phishing scams. According to reports, the scams target homebuyers who are nearing the closing date on their mortgage loan. 
Technology News
Illinois makes moves to recognize blockchain and digital currencies
Illinois News Network - Illinois is embarking on the new frontier of digital ledger technology with the creation of the Illinois Legislative Blockchain and Distributed Ledger Task Force. The resolution creating the task force was adopted by the General Assembly last month. It will study how state and local governments can benefit from a transition to a blockchain-based system of record keeping.
And did you know?
Zillow is threatening to sue a blogger for using its photos for parody
The Verge - McMansion Hell is a Tumblr blog that highlights the absurdity of giant real estate properties and the ridiculous staging and photography that are omnipresent in their sales listings. The blog, started by 23-year-old Johns Hopkins graduate student Kate Wagner, began in July 2016 as a way to poke fun at pretentious architecture. It has since gone viral, but now she’s facing potential legal charges by real estate site Zillow for allegedly violating the site’s terms of service by reproducing the images on her blog.
Forget robots — the goats are coming for our jobs
The Washington Post - A Michigan chapter of the American Federation of State, County and Municipal Employees is warning that somebody is coming to take union jobs. Not immigrants, not robots — but goats.
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