Issue No. 164 | March 25, 2020


EVENTS
Look For NEW Events Posted Since The Last Issue!
INDUSTRY NEWS
Forum Selection / Equitable Tolling of Statute of Limitations: Equitable tolling was inapplicable where FDIC failed to raise running of statute of limitations in defense of federal court's dismissal of a timelyfiled lawsuit based upon the mandatory forum-selection clause that required the lawsuit be filed in the Miami-Dade Circuit Court - FDIC v. Nationwide Equities Corp., No. 3D17-270 (Fla. 3d DCA Feb. 26, 2020) (affirmed)

As the coronavirus continues to spread in Colorado, several industries have taken a heavy beating, except at least one.

LONG BEACH, Calif., March 21, 2020 /PRNewswire/ -- The Closing Exchange announced today its launch of Curbside Closing™ by The Closing Exchange for title agents and lenders to continue to serve their customers in a world of social distancing.

The impact of the coronavirus (COVID-19) on real estate and mortgage closings is rapidly evolving. Several new policies and procedures have been established by title insurance underwriters related to the impact over the past 48 hours.

Texas Uniform Electronic Transactions Act and Real Estate Transactions
Title 10, Subtitle B, Chapter 322, of the Texas Business and Commerce Code, also known as the Uniform Electronic Transactions Act (UETA), discusses electronic signatures and electronic records relating to a transaction. 

Katten’s Real Estate Group has been closely monitoring developments with respect to the spread of the novel coronavirus (COVID-19) and related economic, legal and public policy developments. 

The sudden and widespread outbreak of COVID-19 both domestically and abroad has significantly impacted all contracts and, in particular, buyers and sellers alike in their course of dealing with counterparties under real estate purchase and sale agreements (“PSAs”). 

In the midst of the COVID-19 pandemic, states across the U.S. are implementing restrictions on which businesses can remain open and who must work remotely.  

New York Governor Andrew Cuomo signed an executive order allowing for documents to be notarized virtually using audio-video technology, which those in the real estate industry say is a necessary step to keep business moving during the COVID-19 pandemic.

LEGAL NEWS
A little-known deed restriction limiting the ways the old Central Library property can be used has halted already long-delayed plans to redevelop the building.

We've all heard our fair share of real estate horror stories, but a zombie title is a nightmare that can creep up on homeowners going through foreclosure. So, what is a zombie title and how does it affect homeowners, buyers, and even neighbors? 

The United States District Court for the District of Nevada recently held that an insured lender was not covered under a title insurance policy for an HOA lien because the lien was recorded after the policy date, regardless of when the HOA recorded its Declarations of Covenants, Conditions and Restrictions.

In the aftermath of the recession, when foreclosed houses around King County sat empty, Simmons was introduced to an ancient legal principle called adverse possession that resulted in her living in one such abandoned home that she hoped one day would be hers.

Lack of jurisdiction prompted the 7th Circuit Court of Appeals’ dismissal of an Indiana man’s claims against a utility company Thursday, after it concluded the conditional dismissal of his claims against the company rendered the judgment non-final.

TECHNOLOGY & SOCIAL MEDIA NEWS
As the mortgage and real estate finance markets continue to digitize, the focus has shifted from origination, lead generation and POS optimization (data aggregation) to focusing on inefficiencies within risk, operations, client retention and closing processes. 

TITLE AGENCY & PEOPLE IN THE NEWS
The staff of Freedom Title Corporation in Rolling Meadows recently gave to children and teens fighting cancer by collecting toys and gifts to benefit the Pediatric Oncology Treasure Chest Foundation (POTCF).

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...

OTHER TRENDING NEWS
The new owner of the 1846 Oviatt-Curtiss home in Hudson, Ohio, will have a $0 down payment, and no mortgage to deal with.

If you’re new to working from home, by now, you’ve seen or read about 15 posts on what to do, from putting on regular work clothes to setting a schedule and having a dedicated work space. 

A group of New York millionaires are asking Governor Andrew Cuomo to take their money to help fill the state’s budget gap.

In the middle of a pandemic, as many cities and communities are on lockdown, with most of us practicing social distancing— we have plenty of time to think about the future. How will COVID-19 change the way we live in our homes? As a collective society, we’ve all become more cognizant of germs and how illness spreads. 

Marianne Mathieu, NTP
Vice President/National Agency Accounts
Fidelity National Financial
(347) 987-0677