Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 06/20/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
One in ten dollars of US housing were anonymous
Financial Times - Until 2016, the US property market was one of the last places to move large amounts of money into the country anonymously, with no questions asked. 

These are the 5 issues impacting real estate right now
Housing Wire - The Counselors of Real Estate, an advisory organization that monitors real estate, released its latest report detailing the top 10 issues affecting the real estate industry. This year, the organization divided its annual list to focus on five issues currently impacting the industry and five issues to watch for potential long-term impact over the next three to seven years.

Millennials are moving to the exurbs in droves
Axios - For years, an unwavering certitude of industry, think tanks, demographers, policy-makers and city planners everywhere has been that humanity is moving to the city: We just needed to figure out how to house, employ and feed everyone in a condensed space.

Congress Permanently Authorizes the Protecting Tenants at Foreclosure Act
National Low Income Housing Coalition - President Trump signed into law a permanent extension of the “Protecting Tenants at Foreclosure Act” (PTFA) on May 24. The PTFA was included in a larger deregulation bill (S. 2155) passed by the House on May 22.

Untangling the Web of Foreclosure Complications
DS News - In June, sweeping changes to the Washington Deed of Trust Act will go into effect—impacting everything from how and when servicers can secure and preserve abandoned property to the fees paid to conduct foreclosures in Washington to the definition of who may be a beneficiary entitled to foreclose.

Will Kraninger Succeed Mick Mulvaney as CFPB Chief?
DS News - The Trump administration announced on Saturday that it intended to nominate Kathy Kraninger an associate director at the Office of Management and Budget to head the Bureau of Consumer Financial Protection.

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
Title industry asks judge to throw out state’s new regulations
The Real Deal - Title insurance representatives asked a New York State Supreme Court judge on Thursday to completely annul the Department of Financial Services’ new regulations on their industry, arguing that they represented a significant overreach of the agency’s authority.

With political chaos behind it, Ohio legislature can now move forward on blockchain bill
Modern Consensus - Buckeye State looks to compete with Arizona as one of the most blockchain-friendly places to do business.

Access to Maine’s beaches discussion Author and law professor Orlando E. Delogu will speak about public access to Maine’s beaches on Tuesday, June 19 at 7 p.m. at the York Public Library. Delogu advocates for a re-examination of the court cases that ceded title to Maine’s intertidal lands to upland owners and limited public use of these lands to “fishing, fowling, and navigation.” 

6 items on Fed’s full regulatory docket
American Banker - On the regulatory front, the Federal Reserve Board has been active under Chairman Jerome Powell. The workload is expected to remain busy for the foreseeable future, thanks in large part to enactment of the recent regulatory relief bill.

India: MahaRERA chief set to make land title insurance mandatory
The Times of India - Gautam Chatterjee, the chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA), is all set make title insurance mandatory for registered developers. This comes after insurance companies expressing interest in providing title insurance for the real estate projects.

Tech / Social Media
The Blockchain: A Love Story —and A Horror Story
WIRED - Cryptomania isn’t just a mad rush of scams and speculation. It’s a utopian dream. And a living nightmare.

People Are Paying Insane Amounts of Real Money for “Virtual Real Estate”
Futurism - A plot of land that you can call your own. A couple of thousand square feet of untouched soil, trees and all, where you can let your imagination run wild. A dream come true, right? Well, sort of. This is “virtual real estate.”

Title Agency & People in the News
Jean Partridge and Chris Gulotta: "The New York Effect"
Jean Partridge, Benchmark Title Agency, LLC and Christopher Gulotta, Esq., CIPP, Real Estate Data Shield educated October Research NS3 2018 attendees with a discussion on “The New York Effect”. The session focused on recent regulations imposed on title insurance agents including Cybersecurity and Licensing Regulations 206 and 208. Jean and Chris discussed how the New York cybersecurity regulations may eventually start a national trend and impact the entire industry. The financial and consumer impact of Licensing Regulations 206 and 208 were also discussed. At the Underwriters Panel, when asked what were the most important issues facing our industry, all the panelists concurred that Cybersecurity and the impact of 206/208 were the most critical issues and challenges that our industry will face in the coming years.
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
Life as I know it: Title insurance, as applied to the library debate
Record Eagle - I’m enjoying my last few months of my life in the glamorous world of Real Estate Title Insurance and as I do, I pause to thank whatever force in charge of the universe for having steered my life’s path through here.

Examining How California’s Proposed Break-Up Would Work
Connect Media - A proposal has qualified for California’s November ballot that would split the state into three parts, Northern California, California and Southern California. More than 458,000 valid signatures were gathered for the Cal 3 ballot measure. 

Musician Wins $260,000 In Lawsuit Against Ex-Girlfriend Who Sabotaged Career
NPR - In the spring of 2014, Eric Abramovitz got the opportunity of a lifetime. He just didn't know it.Abramovitz was the victim of a deception that a Canadian judge called "despicable," as he granted Abramovitz $350,000 Canadian dollars (more than $260,000 U.S.) in damages.

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