CLTA eNews - October 2014 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile Garrett & Tully, A Professional Corporation
CLTA NEWS
CLTA is pleased to offer the recorded webinar: Breaking Down Policy Coverages, a 1.5-hour recorded webinar delivered to your desktop ...
 
SACRAMENTO REPORT
Governor Brown signed SB 1171 (Hueso) which will require commercial property to make the same disclosures regarding agency relationships as required for residential brokers. The disclosure will also apply to ...
 
Assembly Bill 2128 (Gordon), reforming the California Organized Investment Network (COIN) Program, was signed into law. The bill was sponsored by Insurance Commissioner Dave Jones. ... 
 
Under legislation signed by Governor Brown in September, AB 2597 (Ting), the California Alternative Energy and Advanced Transportation Financing Authority will be required to consider during an eligibility check whether ...
 
Governor Brown waited until the last minute to veto several redevelopment bills that made it to his desk in September. Among the bills vetoed by the Governor was AB 2493 (Bloom), which would have permitted ...
 
Data Trace Union Bank
INDUSTRY NEWS
The Consumer Financial Protection Bureau (CFPB) has created an informational area on their website with information and resources to help you comply with the TILA-RESPA Integrated Disclosure Rule. ...
 
According to Fitch Ratings, The U.S. title insurance industry reported declines in title operating revenues and profits for the first half of 2014 as the industry continued to deal with lower mortgage refinancing volumes.  ...
 
According to Interthinx, a risk mitigation company, California is once again the riskiest state for mortgage fraud, despite a 12 percent drop in overall risk from the previous quarter. Of the ten riskiest metropolitan statistical areas ...
 
Changes are being made to the Current Legal Digest of the Board of Equalization (BOE) based on changes to the law or a reconsideration of the opinions. Comments are requested by November 7, 2014.  ...
 
Lani
COURT CASES
926 North Ardmore Ave. v. County of Los Angeles
Cal.App. 2nd Dist. (B248536) 9/22/14
The court held that documentary transfer tax is owed when there is a change in ownership or control of an entity that owns real property. ... 
 
Moorefield Construction v. Intervest-Mortgage Investment Co.
Cal.App. 4th Dist., Div. 1 (D065464) 9/12/14 (Pub. Order 9/30/14)
A direct contractor may prospectively subordinate its mechanics lien to a construction loan. Civil Code Section 3262 (now 8120 - 8138) prohibits ...
 
Fleet v. Bank of America
Cal.App. 4th Dist., Div. 3 (G050049) 8/25/14
The court held that plaintiffs stated causes of action sufficient to overcome a demurrer for breach of contract, promissory fraud, fraudulent misrepresentation and promissory estoppel where plaintiffs alleged ...
 
Najah v. Scottsdale Insurance Company 
Cal.App. 2nd Dist. (B241097) 9/30/14
Because a mortgage debt is extinguished by a full credit bid, a mortgagee who purchases an encumbered property ...
 
 

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