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Posted Date: Thursday, February 8, 2024
The 2024 State of Wire Fraud report from CertifID shows roughly 10 percent of Americans being targets for real estate fraud, with median consumer losses in such schemes exceeding $70,000 per incident.
More than half of consumers said they were not adequately educated of the risks of real estate wire fraud before closing, according to the report, and a vast majority expected their real estate agent, title company, attorney, or other transaction participant to take the initiative.
Read on to find out more.
Industry News
Posted Date: Friday, August 11, 2023
A group discussion at this year’s National Settlement Services Summit (NS3) delved into new title industry technology, its benefits and reasons some may be slower than others to adopt it.
The interactive discussions were led by Fidelity National Financial Vice President and Agency IT Director Rick Diamond and October Research CEO and Publisher Erica Meyer.
Read on for more from the discussion.
Conference Coverage, Industry News
Posted Date: Friday, July 14, 2023
Title consulting firm Generes & Associates released a compliance service suite aimed to help firms line operations up with the American Land Title Association’s Best Practices Framework version 4.0.
Read on to learn more.
Technology
Posted Date: Wednesday, July 22, 2020
The 16th annual National Settlement Services Summit (NS3), slated for Sept. 1-3, will feature an entire compliance track this year, one of three tracks featured at the show.
Four top regulators will kick things off by participating in a panel discussion about how many of the regulations affecting the industry recently are coming from the state level.
Read on to see who is speaking, what other compliance topics will be discussed and how you can register.
Industry News
Posted Date: Friday, February 7, 2020
The Consumer Financial Protection Bureau (CFPB) has received dozens of comment letters from title agents and settlement attorneys offering recommendations for modifying, expanding or eliminating its TILA-RESPA Integrated Disclosures (TRID) rule.
Many note that the new forms required by TRID can be confusing to consumers. Others said getting finalized Closing Disclosures from lenders three days prior to closing continues to be a problem.
Read on to learn what title agents believe is good and bad about TRID.
Industry News
Posted Date: Tuesday, April 30, 2019
Attorneys Sean Burke and Marx Sterbcow have worked closely with regulators, having been involved representing an individual or company in a number of title-related cases that agencies have brought.
The highlight of their lessons: That technology is the way forward for compliance management in the industry.Burke and Sterbcow will be speaking at the National Settlement Services Summit (NS3) this summer in Phoenix on “Compliance Management Systems for Tomorrow.”
Read on for a session preview.
Conference Coverage
Posted Date: Thursday, March 15, 2018
ComplianceEase has updated its ComplianceAnalyzer with TRID Monitor to comply with the 2017 TILA-RESPA Integrated Disclosure Rule.
Read on for more details.
Technology
Posted Date: Thursday, February 15, 2018
The House on Wednesday approved a bill that makes changes to the TILA-RESPA Integrated Disclosure (TRID) rule that mortgage loan originators and title insurers have been advocating.
If approved by the Senate, the bill would amend the TRID rule to modify disclosure requirements applicable to mortgage loan transactions.
Read on to learn what ALTA and the MBA are saying about the bill’s changes to the disclosure of simultaneous issue of title insurance.
Industry News
Posted Date: Wednesday, August 2, 2017
Rep. French Hill (R-Ark.) spent 35 years in the banking industry, including nearly two decades as a community bank CEO.
He’s become one of the title industries leading champions in Congress since being elected in 2014, and he recently talked with The Title Report about the latest updates to the TILA-RESPA Integrated Disclosure (TRID) rule.
Read on for his view of TRID 2.0, as well as his thoughts on the recent finalizing of rulemaking concerning arbitration.
Industry News
Posted Date: Friday, July 14, 2017
Now that the ink has dried on the Consumer Financial Protection Bureau’s finalized updates to its TILA-RESPA Integrated Disclosure (TRID) rule, more and more industry insiders are beginning to weigh in.
While none seemed surprised by the content of the final rule, some expressed disappointment that it does not go far enough in requiring that title fees be clearly stated.
Read on for more details.
Industry News, The TRID Journey