Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 05/23/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
S.C Governor Signs Insurer Cyber Security into Law
Business Insurance - South Carolina became the first state to have a cyber security law requiring insurers to establish a “strong and aggressive” program to protect companies and their consumers from a data breach, with Gov. Henry McMaster’s signing of legislation this week, according to the state insurance department.

He let an embezzler of $7.9 million handle his law firm's books. What could go wrong?
Miami Herald - Hollywood attorney Randall Gilbert met Steven Sacks in 2005 while Sacks was in a halfway house after doing federal prison time for wire fraud related to embezzlement. Still, Gilbert hired Sacks to handle the accounting books for his law practice.

A Stolen Strad and Squatter’s Rights
JD Supra - The relationship between a violin and the violinist who plays it[1] is a close one. They spend many hours together in close physical contact, and just as the violinist grows and changes playing the violin, the violin reacts to the person playing it and adds that performance to the violin’s history.

New GTOs start today, may affect you
The Title Report - Beginning today, the Financial Crimes Enforcement Network (FinCEN) will officially extend its Geographic Targeting Orders (GTOs) that mandate identifying natural persons behind shell companies, The Title Report has learned.

Cromwell man bought condo, finds out he never owned it
WFSB Eyewitness News - It's a home buyer's nightmare. Purchasing a property, then finding out years down the road that you never really owned anything and all that money you put into it is gone.

Legal News
Mortgage or Deed of Trust?
Realty Biz - When real estate purchasers apply for a loan, they call it a mortgage. In about 35 of the states, a mortgage is what they will sign at closing. However, in the remaining 15 states, the purchaser, instead, will sign a deed of trust or a deed to secure debt.

Long overlooked deed restriction recently found by title examiner aside, new Hotel will be built in downtown Fort Myers
News-Press - Financing is in place and work on the parking garage over which the 12-story, 243-room Luminary Hotel will rise in downtown Fort Myers is ready to begin.

UPDATE: Fort Myers files suit to clear deed to downtown hotel site
News-Press - The city of Fort Myers is asking a circuit court judge to rule it owns the downtown site of the planned Luminary Hotel.

Oregon man indicted by the Clark County Grand Jury for housing scam
NBC News Las Vegas - Nevada Attorney General Adam Paul Laxalt announced that Geri Lyn McKinnon, 64, of Gladstone, OR, was indicted by the Clark County Grand Jury on four felony charges for her role in taking title, without authorization, to foreclosed properties owned by Federal National Mortgage Association.

Tech / Social Media
Notaries Taking Note Of The Digital Documentation Push - The affixation of seal, and stamp, and signature is a process that seems necessarily bound in paper and ink. But the move towards bits and bytes is gathering steam in a bid to bring security to far flung transactions.

Google’s File on Me Was Huge. Here’s Why It Wasn’t as Creepy as My Facebook Data.
The New York Times - Google’s File on Me Was Huge. Here’s Why It Wasn’t as Creepy as My Facebook Data.

New Cybercrime Statistics: 1 Billion Bots Involved in 210 Million Fraud Attempts in Q1
Security Intelligence - According to the latest cybercrime statistics, more than 210 million attempted fraud attacks occurred during the first quarter of this year, representing a 62 percent increase from 2017.

Title Agency & People in the News
Real estate agent Ben Caballero sets world record, selling 3,556 homes in a single year
Realty Biz - Ben Caballero, a real estate agent based in Addison, Texas, has entered the Guinness World Records after selling an astonishing 3,556 homes in a single year, a new world record.

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
Who wants to make a market for swan title insurance?
Atlas Obscura - Today, it’s rare for swan to be served, but for hundreds of years in England, eating swan was a mark of status. No one could own or eat one without paying the monarchy for the privilege, and an elaborate system of marks developed to track swan rights.

Here is another story of unintended consequences of a government decision
The Atlantic - There’s a dead-end job: Swedish bank robber. In 2016, there were only two bank heists in all of Sweden, compared with 110 eight years earlier. Why the steep plunge? The country’s bent on going cashless.

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