Issue No. 174 | June 3, 2020


EVENTS
Look For NEW Events Posted Since The Last Issue!
INDUSTRY NEWS
Foreclosure: Trial court erred in granting summary final judgment of foreclosure as lender failed to properly prove amounts due by competent substantial evidence - CDC Capital Invs., LLC v. Bayview Loan Servicing, LLC, No. 1D18-4422 (Fla. 1st DCA May 8, 2020) (reversing and remanding)

The Privacy Protections (D) Working Group of the National Association of Insurance Commissioners (NAIC) met on May 5 via conference call to examine its exposed markup of Model Law #670. Working Group Chair Cynthia Amann (MO) talked about the possibility of combining Models 670 and 672, which is more widely adopted and used in states.

Amid the COVID-19 pandemic, certain states are adjusting rules by emergency executive order. In New York, executive orders have been issued to facilitate not only remote notarization, but now also remote witnessing.

Ask Robert Ray how Nevada’s title industry from a commercial real estate perspective is doing amid the coronavirus pandemic, and you’ll get a mixed response.

PROVIDENCE — While emphasizing the value of homebuyers having a lawyer at their side during a real-estate closing, the state Supreme Court left the door open for title insurance companies and their agents to continue the longstanding practice in Rhode Island of conducting closings, but with some limitations.

For reference, here is an updated schedule of suggested "Maximum Risk" amounts for the largest title insurance companies in the United States, as well as a number of their smaller affiliates and independent title insurance companies active in particular states or regions.

LEGAL NEWS
On May 15, 2020, in Geo-technology Associates Inc. v. Capital Station Dover, LLC, the Delaware Supreme Court dismissed an action to enforce a mechanic’s lien because the geotechnical and construction observation services provided by the plaintiff were not covered by Delaware’s mechanic’s lien statute.

For this reason, lenders considering loan modifications should investigate the potential benefits of adding title insurance coverage at the borrower's expense.

Under Section 893.33(8), actions to enforce pre-1980 easements and covenants are subject to a statute of limitations equal to the shorter of the statute of limitations under the predecessor version of Section 893.33 which was in effect at their adoption (i.e. 60 years from the date of last recording)1, or 40 years from July 1, 1980.

Against that backdrop, how would the courts react to a trustee’s sale buyer trying to rescind a completed sale because of a mistake regarding the position of the lien being foreclosed?

WORLD NEWS
Kenya's Matrimonial Property Act, which is discriminatory towards women and inconsistent with the country's constitution, means few married women own land. Less than five percent of all land title deeds in Kenya are held jointly by women and only one percent of land titles are held by women alone.

TECHNOLOGY & SOCIAL MEDIA NEWS
As a result of the ongoing COVID-19 (commonly referred to as the Coronavirus) pandemic, there has been increased interest and demand to secure cyber liability insurance coverage.

Beeline software links directly to a user’s personal bank, employment and pay information, as well as their tax history, and then utilizes machine learning to create a “purchase-ready” or “refi-ready” approval.

Online privacy can’t be solved by giving people new property rights in personal data. That idea is based on a raft of conceptual errors. But consumers are already exercising property rights, using them to negotiate the trade-offs involved in using online commercial products.

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...

OTHER TRENDING NEWS
A viral tweet about a fancy house with a basement decked out to look like a fake town sparked the curiosity of real estate gawkers.

There was a scene in the sitcom “Cheers” where the bartender hired a band to play on St. Patrick’s Day. The song the band played included the line “…And everywhere they looked it was death, death, death.” That’s what turning on or reading the news feels like now. That scene. That song. Over and over. Death, death, death.

Bob’s ability to empty a room was renowned across the children’s entertainment industry.

In the fall of 1918, as influenza spread across the globe and the world clamored for a cure, the price of lemons skyrocketed. From Rome to Rio to Boston, residents desperate for any small measure of protection hoarded the yellow fruit, which was said—by whom it was, even then, unclear—to be both a prophylactic and a remedy for the deadly virus.

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