Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 06/06/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
Fort Myers should honor deed and not build hotel
News-Press - As the Title Turns - a new installment on the downtown Tampa hotel project.
Did the city file a quiet title action?
Will any of the heirs object?
At last, these questions are answered.

Fraud Alert: New Scheme Asks Company to Verify Account Info Before Funding
ALTA (American Land Title Association) - Title and escrow companies should be aware of a new email scheme attempting to garner company banking information.

Industry Sounds Off on Dodd-Frank Reform Bill
DS News - The House of Representatives on Tuesday voted in favor of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. The bill seeks to evolve and streamline regulations put in place by the 2010 Dodd-Frank Act. The final vote in the House was 258-159.

Republican lawmakers question Democratic-sponsored title insurance measure
Kane County Reporter - Possibly preempting federal law to bar bifurcated title insurance is questionable, according to three Republican lawmakers.

This startup will buy Grandma's house and let her live there 'til the end
Housing Wire - Irene, a Manhattan-based startup, is buying seniors’ homes and letting them live there for free for life.

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
Real Property: More Than Meets the Eye
JD Supra - It is typically well understood that location is paramount, and that size, elevation, and other physical characteristics are other important factors. Nonetheless, there are several other intangible factors that relate to each parcel and which impact the parcel's utility and, therefore, value. 

Florida Adopts Provisions Regarding Title Insurance Rebates and Inducements
JD Supra - The Florida Department of Financial Services, Division of Insurance Agent and Agency Services, recently adopted new regulatory provisions regarding unlawful rebates and inducements relating to title insurance that constitute unfair or deceptive acts or practices. 

Inadvertent Transmutation - How What was ‘Mine’ became ‘Ours’
JD Supra - We frequently represent clients who have engaged in some type of transaction with his or her spouse during the marriage that inadvertently causes them to lose certain rights to property unknowingly. This often happens in the context of acquiring or refinancing a home.

D.C. Circuit to CFPB: “Go forth and conquer!” CFPB Responds: “No thanks.”
Publication - In seven short years, the Consumer Financial Protection Bureau (CFPB) has managed to court controversy across the political spectrum. Under the leadership of former Director Richard Cordray, the bureau (for better or worse) tested the limits of its jurisdiction and enforcement power in a wide range of areas, including Home Mortgage Disclosure Act and Equal Credit Opportunity Act, student loan servicing, and let’s not forget the since-disavowed arbitration rule.

State AGs Continue to Supplant Weakened CFPB on Enforcement
JD Supra - No CFPB, no problem? State attorneys general continue to move aggressively, as shown by the Illinois action against a “pension sale” installment lender, plus a notable settlement in New Mexico with the major card networks.

Tech / Social Media
Flying, Hands-Free Umbrellas Just Might Be the Perfect Use For Drones
Gizmodo - A Japanese company, Asahi Power Services, believes there’s a big market for self-propelled umbrellas, not only as a way to stay dry in a downpour while staying glued to your phone, but also as an easy way to beat the heat on a sunny day.

Protect Your Home Sale From Wire Transfer Thieves
Daily Business Review - Over the past several years, buyers, sellers and closing agents have made greater use of wire transfers to deliver and collect funds. While this is a best practice for risk management in real estate transactions, it has fallen prey to scammers who exploit security weaknesses to steal money. Based on our experience at Keyes and what we have learned from real estate experts, the threat can be minimized.

Title Agency & People in the News
Berryville woman’s home getting much-needed repairs
The WInchester Star - Mary Cook doesn’t want a new house — she likes where she lives. “But it’s an old house,’ the 76-year-old said from her living room on Liberty Street on Thursday morning. “It needs a lot of work.”

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
It's hard for Californians to spell 'beautiful,' while Hawaiians struggle with 'grateful'
The Week - The next time you sit down in Missouri and forget how to spell "sincerely," take comfort in knowing that someone in Alabama is grappling with "cousin."

The new rules of CaPiTaLiZaTiOn
The Week - I'm declaring a Free-For-All on capitalization. Capitalize However You Want, as long as you can give a Good Reason for it. Don't shoot the messenger. It's just what we're already doing.

Found: Foxes Stealing Shoes in Japan
Atlas Obscura - And they would have gotten away with 40 pairs, if it weren’t for the police.

She Found Comfort in a Brooklyn Diner, Then Lost Everything
The New York Times - Zelma Haskell had been married to her husband, Irwin, for more than 50 years, and when he died in 2003, she was lost. “He was everything to me,” she said in a recent interview, looking back over the years that followed his death — years of practically unfathomable loss and theft hidden behind the smile of a friend — to the place where it all began.

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