Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 07/11/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
Three Different Courts Find CFPB and Agency Regulation of Title Insurance Companies Overall Intrusive
EIN News - Real Estate Attorney William Blanchard elaborated on three court decisions that each limit or abolish regulatory efforts by the CFPB or pursuant to RESPA.

The real estate bighorn fight
Inman - Competition is fiercer than its ever been, as young challengers rise to meet longstanding giants who will stop at nothing to defend their turf.

Chattel Loans vs Mortgage Loans
M Report - While most manufactured housing customers obtain a chattel loan—a personal property loan—there are significant potential cost savings for them in the mortgage loan market, according to a report from the Urban Institute.

How Smaller Firms Can Go Global Without Going Bankrupt
Law 360 - When Todd Patterson founded his Houston intellectual property boutique Patterson & Sheridan LLP more than two decades ago, his aspirations didn’t reach beyond the city limits. He just wanted a nice office in Houston.

Proprietary Reverse Mortgages Open Doors for New, Existing Borrowers
Reverse Mortgage Daily - As the industry eagerly awaits the introduction of new proprietary reverse mortgages, jumbo loan originators credit these products with helping borrowers in a variety of situations—some more predictable than others.

Racial restrictions in old property deeds have shaped today's neighborhoods in Upstate South Carolina
Greenville News - As a commercial real estate attorney, Adam Artigliere has seen his share of surprising restrictive covenants placed on property deeds by their original owners or developers. Yet, he was still a bit surprised by one restriction that appeared on the deed to the home he and his wife bought in 2011.

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
Supreme Court Strikes Down NY Title Insurance Regulation
New York Law Journal - Justice Eileen Rakower issued a decision reversing the rule announced by the state Department of Financial Services in October 2017. The state plans to appeal the decision, DFS Superintendent Maria Vullo said.

Not dancing yet: Title companies cautious as state prepares appeal
The Real Deal - A state court judge just threw out regulations limiting how title insurance companies wine and dine their clients — but the industry isn’t popping open the champagne just yet.

Foreclosure Options for Distressed Homeowners
DS News - Thanks to a July 3 settlement in a two-year-old class-action suit, Michigan homeowners now have new options when faced with foreclosures due to unpaid property taxes. 

Insurance covers sale of badly built property, court says
The Star - Building deficiencies resulting from poorly regulated construction and that affect the sale of a property are now covered under title insurance in the wake of a recent Superior Court decision.

Lien Nightmare Over for Flanders Homeowners - A nightmare scenario for a new homeowner was resolved in court last month. After two years, Ron Fisher, a civic leader from Flanders, and his husband, James Christensen, have settled a lien against their three-bedroom ranch in the Bay View Pines Community.

New law provides uniformity during abstraction process
The Daily Ardmoreite - On May 10, Gov. Mary Fallin signed House Bill 2941 after it passed unanimously in both the Oklahoma House and Senate. The bill will streamline the abstract procession for realtors across the state by creating greater uniformity in the information provided on property abstracts.

Tech / Social Media
Blockchain tech could totally disrupt property ownership rights
Inman - The limits of contract law allow an opportunity that technologists want to exploit, the same way bitcoin has found a home at the edge of the financial system

The surveyor and artificial intelligence: A look ahead
GPS World - In the not-too-distant future, the following scenario may take place.Through a series of electronic messages and high-tech operations, the seller, buyer, their respective counsels, lending institutions and a title company are provided with documentation stating the condition of the site along with holograms and 3D digital models worthy of a science-fiction movie

Be smart: When a "data breach" isn't a breach
AXIOS - When most people hear about a breach, they think a bad guy has stolen data. That’s scary and can affect consumer behavior. But there was no bad guy involved in what happened at Exactis. Instead, the firm left a database online in an unsecured way, allowing anyone who knew where to find it to download it.

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
C Train Subway Surfer Caught on Video in Clinton Hill
Bklyner - A subway surfer on the C train shocked commuters Friday morning—and one straphanger caught it on camera.

How to Fool the World Starting with Two All-Beef Patties 
Now I Know - Almost all countries have at least one McDonald’s. And if you’re at a McDonald’s, no matter what country you’re in or currency you’re using, you can buy yourself a Big Mac. 

When Spiders Go Airborne, It's Electric — Literally
NPR - Many spiders fly long distances by riding "balloons" of silk, and a new study suggests that they're propelled by more than just the wind.

Potato Vending Machine
Atlas Obscura - Because sometimes you need to make a batch of frites even when the stores are all closed. 

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