Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 09/05/18
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
Why Choosing the Right Title Agent Will Make or Break Your Sale
Forbes - Having clear title is crucial to any real estate transaction. Yet, as the buyer, it can be hard to grasp what exactly title is and how it affects the sale. 

A Call for Common-Sense Mortgage Regulation
M Report - This week, the Credit Union National Association (CUNA) along with other trade organizations called for regulatory relief language to remain in the conference committee version of the 2019 financial services and general government appropriations bill in a letter. 

Wire Fraud: Are Realtors® at Risk?
JD Supra - The statistics about the rise of wire fraud in real estate transactions are staggering. Recent reports released by the FBI suggest that more than 9,600 real estate consumers were victimized for more than $56,000,000 in 2017 alone. 

As Zephyr Teachout Rises, Real Estate Puts Its Money on Her Rivals - The next attorney general will set the tone on investigating and prosecuting bad actors in New York's multi-billion dollar real estate industry.

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
Adam Leitman Bailey, P.C. Wins Motion to Dismiss Action Seeking Coverage after Claim Denial in Favor of Title Company
Adam Leitman Bailey, P.C. - In Mendy G. Holdings LLC v. AmTrust Title Insurance Company, the Plaintiff/Insured sued its title insurance company for coverage to defend a claim of ownership to Plaintiff’s property made by a third party claiming that he owns Plaintiff’s property by virtue of an unrecorded deed assignment. 

Eight-Year Title Insurance Case 'Not Very Sexy’ but Yields $4.2M Verdict
Daily Report - - After eight years of litigation—a trial, an appeal and a second trial—a Gwinnett County State Court jury has awarded $4.2 million to the RM Kids investment group for a title insurance dispute over land contaminated by an oil spill.

PA House Considers “Landowner Bill of Rights”
Fox Rothschild LLP - Rep. Chris Quinn (R-Delaware) recently introduced a bill in the PA House that would require the Pennsylvania Office of Attorney General to create a brief document to clearly outline the rights and responsibilities property owners have during any land acquisition negotiations where eminent domain is being used. 

Missouri Enacts Prohibition on Filing False Documents
JD Supra - Effective August 28, 2018, Missouri enacted new provisions making it a felony offense to file a false document (such as a lien on a property) with the intent to defraud, deceive, harass, alarm, or negatively impact a person financially.

Exaction or Extortion? Limits on the Power to Take Property During Land Use Proceedings
JD Supra - The Oregon Court of Appeals recently recognized that local jurisdictions cannot use local code to circumvent constitutional protections against the taking of property without just compensation.

Bowles Rice settles $41 million power plant title issue just before trial begins
West Virginia Record - A Charleston-based law firm has settled a $41 million issue with a title insurer and avoided a trial. Bowles Rice was facing a trial against First American Title Insurance Co. that was scheduled to begin Aug. 20 in federal court.

Oak Bluffs finishes stale ‘doughnut hole’ swap
MV Times - Oak Bluffs officials ironed out complicated property issues with the Martha’s Vineyard Land Bank on several parcels of land in the Southern Woodlands Reservation.

Melbourne, Australia man facing expensive dilemma after buying home with illegal structures
ABC News - One of the previous owners of the property on Mill Park Drive had illegally erected a bungalow, a garage and two sheds in the backyard. Some were close to 20 years old.

Tech / Social Media
Is Your Real Estate Job Safe from Robotics and Automation?
Bisnow - Technology has been making its way through industries like a bull in a china shop, but commercial real estate has remained largely untouched — until now.

New Phishing Scam Goes After Office 365 Users: Cybersecurity Trends
JD Supra - This new attack has impacted an estimated 10% of Office 365 users worldwide.

SafeChain Completes First Official Real Estate Blockchain Transaction in the U.S.
Send2Press Newswire - Columbus-based company records information on 36 forfeiture properties for the Franklin County, Ohio Auditor's Office

Title Agency & People in the News
Blockchain startup Ubitquity signs AIC Title Service as client
Token Post - Blockchain platform for real estate and title recordkeeping Ubitquity on Tuesday announced that it has signed Oklahoma City-based AIC Title Service as a client.

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
Raw Meat Vending Machines Are Taking Over Upstate New York
Urban Daddy - It sounds a little sketch, sure, but it's happening, yes, yes, it's happening, and gloriously so, at two locations in Upstate New York. 

How a Seven-Year-Old Kid Convinced Us to Strangle Ourselves - When it comes to fashion, what we choose to do is often impractical. For women, there are tons of examples. But for men, one stands out: the necktie.

A painting panda is creating abstract artwork — and you can buy it
The Week - Yang Yang is the Picasso of the panda world, and her works of art are now on sale.

Tomato Wine
Atlas Obscura - Who said vineyards have to grow grapes?

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