Issue No. 213 | March 3, 2021


EVENTS
Look For NEW Events Posted Since The Last Issue!
INDUSTRY NEWS
Effective as of February 23, 2021, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) have, once again, updated the Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys.

The Maryland Insurance Administration has learned that title insurers may not be including law firms that have been appointed as a principal agent in their producer register.

The past 10 months have transformed what “professional life” means for many of us. While many companies are actively exploring what a hybrid work environment might look like for their organizations, two things have become clear:

Let’s admit it. The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing. 

Foreclosure / Standing: Trial court erred in entering final judgment in favor of third-party purchaser where third-party purchaser participated in the foreclosure action as if he were a party to the note and mortgage and trial court failed to conduct a de novo trial on remand - Wells Fargo Bank, N.A. v. Dias, No. 2D19-3256 (Fla. 2d DCA Feb. 12, 2021) (reversed and remanded with instructions)

The Uniform Electronic Transactions Act (“UETA”) proposed by the Uniform Law Commission (“ULC”) in 1999 presented ways for states to effectuate electronic signatures with the same legal validity of wet ink signatures.

LEGAL NEWS
There are 7,719 miles of tidal shoreline in Maryland along the Chesapeake Bay and its tributaries, according to the Maryland Geological Survey.

A recent Texas case, Lyle v. Midway Solar, S.W. 3d, 2020 WL 7769632 (Tex. App. Ct., El Paso 83rd Dist. 2020), addressed a challenge that many solar developers wrestle with: how to handle minerals owners. The El Paso Court of Appeals clarified this complex issue and demonstrated the importance of properly addressing the minerals on a site prior to developing a project.

The Oregon Supreme Court recently held that a lien for delinquent condominium assessments has priority over a first mortgage or deed of trust, where the mortgagee fails to initiate a foreclosure action within the 90-day notice period prescribed by ORS § 100.450(7).

A Democratic state lawmaker from St. Louis County wants to ban foreign companies from buying more farmland in Missouri.

TECHNOLOGY & SOCIAL NEWS
Real estate software maker RealPage has been denied a $6 million computer crime insurance coverage claim because the stolen funds were not in its possession but were instead being held by a payment processing firm at the time of a phishing scheme.

TITLE AGENCY & PEOPLE IN THE NEWS
(LANSING, MICH) To protect consumers from dishonest insurance practices, the Michigan Department of Insurance and Financial Services (DIFS) has issued a cease-and-desist order against Cedar Hawk Title Company and its employees, Victoria Lansen and Tabria Josey, forbidding further violation of the Michigan Insurance Code.

The scheme has been a growing threat. According to the FBI, in Florida alone home hackers stole $29,000,000 in 2016, and $96,000,000 in 2019, and the losses since COVID-19 could be far worse.

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 Medical Board of California said it would investigate a plastic surgeon who appeared in a videoconference for his traffic violation trial while operating.

Inspired by legal reforms and calls for racial equity, a small cadre of editors are challenging a long-held precept of American journalism: that news reports create an enduring historical record.

You never know where popular culture will decide to incorporate the reverse mortgage product category as part of a story, but the latest instance came from a particularly unlikely place: namely, the fictional town where an alien baby landed, before he would grow up to become the world’s greatest hero, Superman.

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