Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 04/25/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
Subprime mortgages make a comeback—with a new name and soaring demand
CNBC Realty Check - They were blamed for the biggest financial disaster in a century. Subprime mortgages – home loans to borrowers with sketchy credit who put little to no skin in the game. Following the epic housing crash, they disappeared, due to strong, new regulation, and zero demand from investors who were badly burned. Barely a decade later, they're coming back with a new name — nonprime — and, so far, some new standards.

ALTA Response to Blockchain Articles
ALTA (American Land Title Association) - Blockchain is an interesting concept and the technology may eventually provide some serious benefits in the real estate sector.

Download the FREE 2018 Voice of the Title Agent Special Report
The Title Report - Get your free 2018 report.

Freddie Mac Forecasts Housing Market Status Through 2019
MReport - Freddie Mac has released its latest Outlook, breaking down the state of the housing market in April 2018 and examining where things are likely to head over the next few years. 

Fraud and Forgery: From Vintage Violins to Today’s Real Estate Transaction
JD Supra - Fraud has a long history. In a recent blog in the Orchestrating Real Estate Series, New Things to Consider in Section 1031 after the Tax Cut and Jobs Act of 2017, I discussed how famous violin maker Jean-Phillipe Vuillaume started his career in a violin forger’s shop, only to become a violin maker whose work was so valued that it, ironically was forged by others.  

States Moving to Fill Perceived Void in CFPB Enforcement
JD Supra - In response to “the void left by the Trump Administration’s pullback of the [CFPB],” the New Jersey Attorney General recently announced that Paul R. Rodriguez will be serve at the Director of the New Jersey Division of Consumer Affairs, the state’s lead consumer protection agency. 

The New California Department of Insurance Expedited Title Company Application Process: Fact or Fiction?
JD Supra - Obtaining a California underwritten title company license is generally a lengthy process. Once the application is filed with the California Department of Insurance (CDI), it can take a minimum of 6 to more than 12 months until the license is granted.

Softbank's Futuristic Vision Fund Takes on the Real (Estate) World
Wired - In the last two months Michael Marks has turned down a dozen offers to make keynote speeches at conferences. His company, construction startup Katerra, is three years old, but the attention surge is very recent. “Construction technology has gotten kinda buzzy,” he says.

After affordable housing debacle, title industry rebuffs Denver’s request to ensure compliance with program rules
The Denver Post - Insurers promise to work with city in finding a solution

How to Grow Your Business by Expanding into New Markets
NEILPATEL - So, you want to expand your business into a new market? Nice! It means you’re doing well and you’re ready to ramp up your business. I’ll admit that growth is alluring. The possibility of more profits, more reach, and more impact is enough to get anyone excited. Expansion is also a big step that you shouldn’t take lightly.

Proliant Settlement Systems Launches Franchise Opportunity in the Title Insurance Industry
Digital Journal - Proliant Settlement Systems launches an innovative business model for self-starters that promises to eliminate the usual and confounding barriers typically found when trying to enter the title insurance industry.

Legal News
Arizona Appellate Court Affirms Judgment for Title Insurance Company and Escrow Agent in Lenders’ Fraud Action 
Lexology - The Arizona Court of Appeals recently affirmed a lower court’s order dismissing claims against a title insurance company and an escrow agent and held that they were not liable for the property purchasers’ purported fraud against the lenders.

OCA rules title insurance exception did not apply
Law Times - The Court of Appeal has found that an exclusion barring a victim of a mortgage fraud from collecting insurance coverage did not apply when the funds in the transaction were transferred through lawyers’ trust accounts.  

When policy exclusion wording intersects with fraud
Canadian Underwriter - The Court of Appeal for Ontario has decided, in a divided ruling, that title insurance coverage would be “nullified” if one title insurer had its way on a claim.

Proposed TRID Title Insurance Clarification: Senator Warren Cries Wolf
JD Supra - Recently, I came across an article written by Senator Elizabeth Warren entitled “Don’t Make Bad Bill on Bank Deregulation Worse.” In this article, the Senator warned against efforts by the House to add additional deregulation measures to the bill that was approved by the Senate

How the relocation of the American River 150 years ago may be delaying Kaiser's Railyards hospital today
Sacramento Business Journal - The Railyards project may be gaining momentum, but a series of complicated land transactions continues behind the scenes.

Fort Myers stands by downtown hotel deal; project cost hits $91 million
News-Press - The Fort Myers City Council has voted to guarantee that it has absolute ownership of a parcel that will become home to a $91 million downtown hotel and convention center.

Pesto, respect mix to resolve Cary property-line dispute - Good neighbors can make all the difference. Just ask a Cary couple who was unable to sell their home because of a property-line issue.

Tech / Social Media
Millennials Can Now Buy Homes with Crowdsourced Mortgages on Blockchain
F inance Magnates - Powered by blockchain, Homelend provides a new solution for solving economic and financial problems for millennials

Here's What a Blockchain Property Deed Looks Like
GT - What does a government document look like when it’s put on the blockchain? Well, it looks a lot like a regular, old government document.

Tennessee notaries will soon be able perform online notarizations nationwide
Housing Wire - Notaries in the state of Tennessee will soon be allowed to perform online notarizations for signers nationwide after the state’s legislature overwhelmingly passed online notarization legislation.

How to Evaluate Cyber Insurance Options?
Vedder Price - On April 10, 2018, the Federal Financial Institutions Examination Council (the “FFIEC”), issued guidance to assist financial institutions in analyzing the use of cyber insurance in an effective risk management program (the “Guidance”).

It’s a whole new ballgame: Takeaways from MBA Tech
Housing Wire - It was fitting that the Mortgage Bankers Association chose Detroit, the launch pad of Rocket Mortgage, as the site for this year’s Technology Solutions Conference & Expo. T

Title Agency & People in the News
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
How do title professionals clear these 3 hurdles to success?
PropLogix - Every professional has constant hurdles to better their workflow efficiencies that will ultimately lead to business growth.

Words and phrases that will positively impact on your clients
Realty Biz - The way in which we phrase what we’re trying to say to people may have a big impact on our ability to win clients, according to a new study by Gong, an artificial intelligence company that performs analytics for salespeople.

Where the Amish Go on Vacation
The New Yorker - Each winter, for close to a century now, hundreds of Amish and Mennonite families have travelled from their homes in icy quarters of the U.S. and Canada to Pinecraft, a small, sunny neighborhood in Sarasota, Florida.

The Marriage-Saving Robot That Can Assemble IKEA Furniture, Sort Of
The New Yorker - Ikea’s furniture-assembly instructions aren’t for everyone, although they’re meant to be.

The Gross, Metallic Secret Behind America’s Westward Expansion
Now That I Know, That's Half the Battle - In 1804, a pair of American explorers, Meriwether Lewis and William Clark, led an expedition from Illinois to points unknown, hoping to find a passage to the Pacific Ocean. 

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