Industry & Technology news compliments of Marianne Mathieu
Title Insurance Industry & Technology News 11/08/17
Compliments of Marianne Mathieu
Industry Events
Look for NEW events posted since the last issue!
Industry News
Banks are far more exposed to risky real estate loans than you think — thanks to this loophole
The Real Deal - Last February, Slate Property Group and GreenOak Real Estate landed a $285 million loan from the Blackstone Group to finance the acquisition and condominium conversion of RiverTower, the enormous Midtown East rental building. It was a bold deal: The young Brooklyn-based Slate had never taken on anything close to this size, and the condo market was softening.

Republican tax plan will trigger another Fannie, Freddie bailout
Housing Wire - On Thursday, the Republicans finally released their highly anticipated tax reform plan, and as it turns out, the Tax Cuts and Jobs Act may impact the housing economy much more than first thought.

Real estate: the struggle for reforms in India - RERA will eliminate fly-by-night operators entering the business of real estate. As the new paradigm emerges, it is clear that developers need to be highly compliant, transparent and extremely well capitalised, says Surendra Hiranandani, CMD, House of Hiranandani

Detroit: From Motor City
to Housing Incubator
The New York Times - The 2008 financial crisis and 2013 city bankruptcy gutted
Detroit’s housing market. Now, Detroit is experimenting with
unorthodox ways to get people to buy homes and renovate houses.

Legal News
How not to transfer real estate and mineral interests
Capital Journal - It’s not your father’s Oldsmobile anymore: the world of real estate and mineral interests has changed. Yet, in the law, adherents to customs abound aplenty. Keeping, transferring and ‘devising’ real estate and mineral interests is not what you were taught. Following long-standing old usages can result in modern mistakes. Let me provide but a few examples.

Williston: How Proposition 2 helps Texas homeowners
Longview News Journal - Texas does things a little differently than most states, especially when it comes to private property rights. For example, we have strict consumer protections related to home equity lending that are so important to Texans that voters actually enshrined them in the state constitution back in 1997.

Village’s Denial of a Permit to Fence-Off Private Road Subject to Claim for Inverse Condemnation
JD Supra - In the Village of Bayville, New York (“Bayville”), a landowner wished to enclose and protect private property and the private roadway for access thereon (“Lot 18”) against trespassers. The landowner sought to erect crash gates to prevent public access across the private roadway, which forms a part of Shore Road ...

Is Your Company’s “Flexible Scheduling” Policy a Violation of Wage and Hour Law?
Smith Amundsen - An employer who allows its employees the “flexibility” to self-schedule time off the clock must make sure that it is paying its employees for all time worked. And beware, under the Fair Labor Standards Act (FLSA), “hours worked” is not limited to only that time an employee spends performing his or her job duties. Short breaks of twenty minutes or less are also counted as hours worked and must be paid.

Tech / Social Media
Online Closings – A Guide for Mortgage Lenders & Title Agents
Housing Wire Knowledge Center - Let’s face it – when it comes to real estate transactions, borrowers want their money ASAP – and going to an office to sign documents is seen as an inconvenience. With online notarization, this problem may be solved.

Trust Stamp Announces Free Safety Tool for All Realtors®
Cision PR Newswire - At the National Association of Realtors®' Conference & Expo in Chicago, Trust Stamp announced that its safety tool will now be free for all Realtors®. Trust Stamp is an identity authentication startup company that leverages artificial intelligence and blockchain technologies to verify strangers' identities and provide a trust score.

In Other News
Lampposts are covered in airbags to stop 'smartphone zombies' bumping into them as they walk around staring at their screens in Salzburg
Daily Mail - Salzburg authorities say tourists are increasingly hurting themselves by not looking where they are going while checking their devices.
Locals have described mobile phone users as Smombies, the short form for a 'smartphone zombie', and civic chiefs are taking action to stop them getting injured.

Why So Many People Choose the Wrong Health Plans
The New York Times - If you get health insurance from your employer, you have to make decision every year about which coverage to choose. So here is a warning: If you are simply sticking with an old plan with a low deductible, that may well be a wrong and costly choice.

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.

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