CLTA eNews - April 2015 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile Garrett & Tully, A Professional Corporation
CLTA NEWS
The CLTA is pleased to welcome two new title companies as Regular Members of the association, as approved by the CLTA Board of Governors on April 19, 2015 ...
 
The CLTA recently filed the new ALTA Residential Limited Coverage Mortgage Modification Policy and three new endorsements. The policy is a standardized policy used by institutional loan services in connection with ...
 
Consider how a title company operated in 1960. A transaction began with a phone call from a local real estate agent. The escrow or title officer who received the call almost certainly knew the agent personally. The agent ...
 
SACRAMENTO REPORT
Assembly Bill 259 (Dababneh) would require government agencies to offer theft prevention and mitigation services to individuals if certain personal information was breached and the government agency was the source of the breach.  ...
 
Senate Bill 588 (de Leon) is currently a "spot bill" (placeholder bill into which substantive language will be inserted) that will soon be amended to permit a worker who has not been paid his or her wages to file a lien against ...
 
Data Trace Union Bank
INDUSTRY NEWS
Despite numerous objections, the Consumer Financial Protection Bureau is moving forward with its plan for opening its consumer complaint database to the public. When a consumer submits a complaint to the CFPB, they will now ...
 
The Consumer Financial Protection Bureau (CFPB) released its latest supervision report highlighting legal violations uncovered by the Bureau’s examiners. The Bureau found mortgage origination violations and ...
 
The CFPB Supervision and Examination Manual (Manual) describes how the CFPB supervises and examines real estate service providers and gives examiners direction on how to determine if companies are complying with ...
 
The title insurance industry generated $11.3 billion in title insurance premiums in 2014, according to ALTA's 2014 Year-end and Fourth-Quarter Market Share Analysis . Premium volume was down 10.9 percent when compared to ...
 
COURT CASES
The Court of Appeal recently ruled that that an "indemnity" provision in an escrow contract does not ordinarily constitute a reciprocal attorney fee clause that would permit a buyer/seller who successfully sues escrow for breach of ...
 
CADC/RAD Venture 2011-1 LLC v. Bradley  (A140420) 
A guaranty is a sham where the guarantor is the principal obligor on the debt, either because he or she personally executed the note or deed of trust, or because the guarantor ...
 
Boyce v. T.D. Service Company (B255958)
An impropriety in the transfer of a promissory note affects only the parties to the transaction, not the borrower, so a borrower lacks standing to challenge ...
 
Ukkestad v. RBS Asset Finance (D065630)
The court granted the trustee's petition under Probate Code Section 850(a)(3) (a "Heggstad petition") for an order confirming that two parcels of land are part of the trust's ..
 
 

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