Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 01/23/19
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
New real estate term "surban" a sign of the times
Oregon Business - Developers are betting that millennials are demanding a new type of neighborhood. .

Where Is Mortgage Fraud Risk Rising?
The M Report - Florida continues to be a high-risk state for mortgage frauds according to the latest data from CoreLogic's quarterly analysis of mortgage fraud risks across the country.

Kraninger: CFPB to assess TRID rule
The Title Report - Consumer Financial Protection Bureau Director Kathy Kraninger has assured a Republican senator that the bureau will examine concerns regarding Dodd Frank’s TILA-RESPA Integrated Disclosure rule (TRID)

Can A Woman Build Your House? She Can and She Does
Forbes- Nikki Bach of Gloucester, Massachusetts heads up Bach Builders, a full service general contracting firm she founded in 2009. The company has three dedicated work crews and revenues of $3 million a year.

An Empty Lot Above Beverly Hills Is the Most Expensive Real Estate in the World
Town & Country - Is this billion-dollar listing a stunt or the future site of a spectacular mansion?

Notice and opportunities to comment
CFPB (Consumer Financial Protection Bureau) - Check here for notices and opportunities to comment posted by the Bureau of Consumer Financial Protection (BCFP). These requests can include: proposed rules, requests for information, and Paperwork Reduction Act notices that give the public an opportunity to comment on certain planned or existing reporting, record keeping, and disclosure requirements.

Legal News
Top 2018 legal developments affecting New York's real estate industry - by Thomas Kearns
NYREJ (New York Real Estate Journal) - Among the numerous legal developments of 2018 the standouts include the introduction of a new tax strategy for real estate investment and development, and a $6.75 million verdict against a property owner for destroying street art, noted below with a few others of interest: 

Ohio Amends Foreclosure Procedures and Passes Bill to Enact the Notary Public Modernization Act
JD Supra - In December 2018, the Governor of Ohio signed into law Ohio House Bill 480 and the House of Representatives passed Ohio Senate Bill 263.

New York Appellate Court Upholds Title Insurance Kickback Regulation
The National Law Review - Last summer, a New York state motion court granted a petition by the title insurance industry challenging a New York State Department of Financial Services (“DFS”) regulation promulgated to prohibit certain practices affecting title insurance costs. 

Delaware Bankruptcy Court Finds that Section 546(e) Does Not Protect Fraudulent Transfers Following Supreme Court’s Ruling in Merit Management
JD Supra - In one of the first applications of the Supreme Court’s ruling on the scope of section 546(e) in Merit Management, Delaware Bankruptcy Court Judge Carey found that section 546(e)’s safe harbor did not apply to fraudulent transfers ...

Tech / Social Media
Money Launderers Love Video Game Fortnight, Too, AML and Blockchain, and More
ACFS (Association of Certified Financial Crime Specialists) - In this week’s Financial Crime Wave, criminals flock to Fortnite to launder money, monetize stolen credit card details, a look at how blockchain can improve the efficiency and lower costs in fincrime compliance ...

Survey: Less Than 60 Percent of Title Companies Have Cyber Insurance
ALTA (American Land Title Association) - Wire transfer fraud and cyber-attacks are top of mind for most title company owners. According to the FBI, there has been a 1,100 percent rise in these crimes from 2015-2017.

World News
Why have so few local authorities imposed the vacant site levy? (Ireland)
RTE - From the start of this year, local authorities were due to impose a heavy penalty, known as the vacant site levy, on landowners who have been hoarding land rather than developing it for housing.  

Italian homes in scenic Sambuca, Sicily are on sale for just over a dollar (Italy)
New York Post - Sambuca for a buck — this could be the destination real estate deal of 2019.

104-year-old man waiting over 30 years for land title from Jamalco (Jamaica)
Loop Jamaica - The National Water Commission (NWC) loudly touts the slogan, “Water is Life’. And if the Ministry of Agriculture was canvassed, it would likely readily promote the ownership of land as being similarly key to economic empowerment.

Title Agency & People in the News
Frank Carroll Receives NYSBA Professionalism Reward
Congratulations to Frank Carroll on receiving the NYSLTA (New York State Bar Association) Real Estate Section Professionalism Award. All who know Frank know it is well deserved.

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.

In Other News
Chandlers were Audubon wardens - My mother's family has deep roots in Florida and I'm proud to share this with y'all.
Lake Okeechobee News - Conservation has always been important to the Chandler family, with the first and possibly most famous story on record being that of Marvin Chandler, the first Okeechobee warden for the Audubon Society.

New Luxury Hotel Will Be 200 Miles Up and $792,000 a Night
Bloomberg - It’s not that far-fetched, but one skeptic says a startup’s audacious plan may be a trial balloon to see how many wannabe astronauts sign up.

The Rise and Fall of New Year’s Fitness Resolutions, in 5 Charts
CityLab - The January gym spike is real, but it drops off just a few weeks later, according to data from location and fitness apps.

Think Snowstorms Are Rough Now? Check Out These Vintage New York Blizzards
The New York Times - Severe winter weather was bad for the people and worse for the horses. “Storm Played No Favorites with Men or Beasts,” an editor wrote in 1914 as part of a winter-misery photo spread titled “New Yorkers Playthings in the Blizzard’s Grip.

Which U.S. Cities Have the Most Families with Kids?
CityLab - Spoiler alert: It’s simply not the case that families with kids have disappeared from urban America.

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