CLTA eNews - July 2015 In This Issue
MESSAGE FROM THE PRESIDENT
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile
MESSAGE FROM THE PRESIDENT
Over the last 107 years the California Land Title Association (CLTA) and its leadership, members and employees have been at the forefront of protecting and defending our industry from countless challenges from ...
 
CLTA NEWS
The CLTA recently filed a new ALTA Expanded Coverage Residential Loan Policy and Short Form Policy. These policies incorporate ALTA Endorsements 4-06, 5-06 and 9-06, without depending on bracketed selections.  The CLTA also filed ...
 
Counsel for the California Land Title Association filed a letter with the Fifth District of the California Court of Appeal requesting publication of the opinion in Andre Torigian v. WT Capital Lender Services, a case focused on the issue of trustees under deeds of trust. Specifically ...
 
SACRAMENTO REPORT
News Express:   July 16, 2015 – Bulletin 15/16-4
The CLTA-sponsored bill AB 704 (Cooley) passed unanimously out of the Senate Banking and Financial Institutions Committee yesterday on a bipartisan vote of 7-0.   AB 704 would clarify longstanding escrow practices for UTCs and ...
 
AB 1267 (Bloom), which would expand an existing prohibition on the filing of false liens, encumbrances, or lawsuits, as well as the fast-track process to allow an aggrieved party to receive a hearing before a court, has been passed by ...
 
The California Land Title Association has joined a number of other trade associations, including the California Bankers Association (CBA) and California Association of Realtors (CAR), in a coalition opposed to SB 602 (Monning), which would allow homeowners to ...
 
Assembly Bill 661 (Mathis), which would clarify when an additional fee of up to $10 can be charged, in counties that have opted-in, for real estate fraud prosecution purposes by a district attorney, has been signed ...
 
Data Trace Union Bank
INDUSTRY NEWS
News Express: June 17, 2015 – Bulletin 14/15-91
The Consumer Financial Protection Bureau (CFPB) announced on Wednesday a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule until October 1st.  CFPB Director Richard Cordray stated that ..
 
A new wetlands rule that defines waters of the United States becomes effective on August 28. The rule was finalized at the end of June but was immediately challenged in court. So how the rule plays out is an open question.  The EPA and Army Corps of Engineers adopted the rule after  ...
 
The Board of Equalization, acting on a request from the California Assessors’ Association, is proposing amendments to Property Tax Rule 462.040, Change of Ownership – Joint Tenancies. The Board is proposing to add examples to the Rule to clarify the change in ...
 
The Title Insurance Task Force will meet at the Summer NAIC meeting in Chicago this August. The Title Insurance Financial Reporting Working Group is considering developing best practices for the design and implementation of title cost comparison guides for consumers. This report is due ...
 
Rating company A.M. Best had asked for comments, due June 26, on draft reports dealing with criteria for rating title companies and capital adequacy ratios for title companies. The proposed changes to the rating criteria include  ...
 
COURT CASES
In re Marriage of Lafkas (B243635) 
When a spouse places separate property in joint title form, the transmutation requirements of Family Code Section 852 must be satisfied before the joint title presumption of Section 2581 applies. The modification of a partnership agreement in this case added ...
 
Monterossa v. Superior Court (C077683)
A borrower who obtains a preliminary injunction enjoining, pursuant to Civil Code Section 2924.12, a trustee's sale of his or her home is a "prevailing borrower" within the meaning of the statute and is entitled to attorney's fees, even if a permanent injunction is never obtained.
 
Valbuena v. Ocwen Loan Servicing (B256378) 
It is not necessary for a borrower to tender the loan balance in an action to set aside a trustee's sale based on alleged violations of the Homeowner's Bill of Rights (CC 2923.6 etc.)
 
Wells Fargo Bank v. 6354 Figarden General Partnership (F067568)
. When the property subject to redemption contains multiple parcels, some vacant and unimproved, and some improved and occupied by rent paying tenants, the measure of the offset in determining the redemption price under ...
 
 

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