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CLTA eNews - June 2016 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile Early Sullivan Wright Gizer & McRae LLP
CLTA NEWS
The CLTA recently filed changes with the California Department of Insurance to three CLTA forms:  CLTA Form 101.4 (05-06-16) | Mechanics Liens, No Notice of Completion; CLTA Guarantee Form No. 22 (05-06-16) | Trustee’s Sale Guarantee and CLTA Preliminary Report Form, Exhibit A (05-06-16).
 
The CLTA Education Committee recently updated the Title Consumer: Understanding the Language of Real Estate.  The brochure was updated by adding ...
 
Craig Page, the Executive Vice President and Counsel for CLTA, testified at a joint hearing of the Assembly Committee on Banking and Finance and the Assembly Committee on Local Government. The joint informational hearing ...
 
Craig Page, the Executive Vice President and Counsel of the California Land Title Association, and Meghan Pfanstiel, Executive Director of the Land Title Association of Colorado, gave a presentation ...
 
SACRAMENTO REPORT
Senate Bill 918 (Vidak) would require the owner of a separate interest and the homeowner association in a common interest development to annually verify the mailing address or addresses to which notices ...
 
Senate Bill 1150 (Leno) passed the California Senate in a close vote. The votes were cast largely along party lines with Democrats in favor and Republicans opposed. However, several Democratic senators ...
 
Assembly Bill 2693 (Dababneh), which would improve disclosures to consumers contemplating the installation of improvements secured by a Property Assessed Clean Energy (PACE) lien on their property ...
 
Assembly Bill 2846 (Maienschein) adopts several provisions of the Uniform Law Commission’s model legislation, the Uniform Powers of Appointment Act. The bill passed the State Assembly in May. The bill seeks to ...
 
The Brown administration is proposing a budget trailer bill to address housing affordability. The proposal is intended to streamline affordable housing by creating entitlements for ...
 
Data Trace Union Bank
INDUSTRY NEWS
The Federal Bureau of Investigation Internet Crime Complaint Center (IC3) recently distributed a public service announcement updating the Business E-mail Compromise (BEC) information, including new complaint information. A BEC is defined as ...
 
San Diego businessman Courtland Gettel and Arizona attorney Jeffrey Greenberg pleaded guilty to a massive mortgage fraud scheme.  The conspirators generated the money by taking out huge loans against multi-million dollar homes ...
 
A former Wells Fargo employee was ordered to pay an $85,000 penalty and banned from the mortgage industry for a year for his alleged role in an illegal mortgage fee-shifting scheme.  According to the Consumer Financial Protection Bureau ...
 
The ALTA reported that title premiums nationwide increased in the first quarter of 2016 over the same period in 2015. However, California was just one of four states to see a decrease in premiums over the same period a year ago. ...
 
The California Department of Business Oversight recently released the results of a survey of online lenders. According to the survey, financing provided by 13 major online lenders to California consumers ...
 
The NAIC Cybersecurity Task Force met in Washington, D.C., to receive feedback from interested parties on the draft "Insurance Data Security Model Law." ALTA staff and members of the NAIC Liaison attended the meeting.  The NAIC ...
 
The California State Allocation Board recently voted to give authority to school districts to charge Level III developer fees due to the nearly depleted school facility grant fund. This action was opposed by ...
 
Wendel, Rosen, Black & Dean LLP Hershorin & Henry LLP Adeptive Software
COURT CASES
Sciarratta v. U.S. Bank (D069439)

Plaintiff brought this wrongful foreclosure and quiet title action alleging that JPMorgan Chase Bank recorded an assignment of the deed of trust to Deutsche Bank, and subsequently JPMorgan Chase assigned the deed of trust to Bank of America.  ...
 
 

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