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Wendel, Rosen, Black & Dean LLP
CLTA eNews - February 2018 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile Early Sullivan Wright Gizer & McRae LLP
CLTA NEWS
The California Land Title Association’s 111th Annual Convention will be held April 22-24, 2018 at the Ojai Valley Inn & Spa in Ojai, California.  Don't delay...Register Today!  ...
 
CLTA is pleased to offer:  New Laws/New Cases 2017, a 1.5-hour recorded webinar delivered directly to your desktop. Participants requesting MCLE or PD will receive 1.50 CE credit for participating in the webinar.  ...
 
SACRAMENTO REPORT
CLTA News Express | January 17, 2018.  The California State Lands Commission (SLC) has established a website devoted to Senate Bill 50 (Allen), relating to the conveyance of federal lands. ...
 
The California Land Title Association ("CLTA") recently provided comments to the California Law Revision Commission regarding the revocable transfer on death deed ("RTODD") law. The law ...
 
CLTA News Express | February 13, 2018.  Former Insurance Commissioner Steve Poizner has announced that he is running to reclaim the Insurance Commissioner post he held as a Republican from 2007 to 2011, though this time ...
 
California Insurance Commissioner Dave Jones has directed his staff to commence a regulatory review of certain insurance rates citing a "major tax windfall" under the new federal tax rules that reduced the corporate tax rate from ...
 
Data Trace Union Bank
INDUSTRY NEWS
The Board of Equalization recently sent a letter to county assessors discussing change in ownership determinations involving transfers of community property held in the name of one spouse. ...
 
er the ALTA, by a vote of 269-143, the U.S. House of Representatives on Wednesday passed a bill that corrects the inaccurate disclosure of title insurance premiums on the TILA-RESPA Integrated Disclosures (TRID), which would help ...
 
Last year California Governor Jerry Brown signed legislation creating a new licensing scheme for Property Assessed Clean Energy (PACE) program administrators. Starting January 1, 2019 ...
 
The American Land Title Association (ALTA) is one of eight insurance trade groups supporting a bipartisan bill introduced by Rep. Sean Duffy (R-Wis.) and Gwen Moore (D-Wis.) that would clarify the extent to which the Consumer ...
 
A newly released strategic plan from the CFPB for the 2018-2022 fiscal years emphasizes sticking to the Bureau’s statutory responsibility. What this means is a slowdown in expansive rulemaking ...
 
The combined fourth quarter pre-tax income for the title segments of the four major title insurance groups declined slightly in the 4th quarter of 2017 compared to 2016. Combining the family groups of  ...
 
For the fourth quarter of 2017, Fannie Mae reported a net after-tax loss of $6.5 billion and a comprehensive loss of $6.7 billion resulting from the change in the company’s deferred tax assets due to the new federal tax law. ...
 
California start-up Katerra Inc. received over $800 million in funding from SoftBank Group and other investors. Katerra, based in Menlo Park, bills itself as a tech company and puts all the design and production ...
 
Quicken Loans Inc. reported that it overtook Wells Fargo in mortgage originations in the fourth quarter of 2017 by originating $25 billion in home loans in the last quarter of 2017, beating Wells Fargo’s reported $23 billion. However ...
 
Propy Inc., based in Palo Alto, is launching a pilot project with South Burlington, Vt., on a blockchain prototype designed to allow the city clerk's office to record real estate conveyance documents. ...
 
Petru Corporation RynohLive
COURT CASES
Guan v. Hu  (B276546).  Plaintiff and defendant entered into a contract under which plaintiff paid the purchase price for a residence to be held by defendant as the "nominal owner" and which required plaintiff to sell the property when
 
SMS Financial v. Cornerstone Title Company (A146711).  The court overruled the trial court's sustaining of a demurrer, holding that an assignee of a deed of trust has a cause of action for damages under Civil Code Section ...
 
Centex Homes v. St. Paul Fire & Marine Ins. Co. (C081266).  The court held that defendant insurance company did not have a duty under Civil Code Section 2860 to provide independent counsel to defend an insured where the defense was accepted ...
 
Tikosky v. Yehuda (B278052).  The court held that a title insurance company's payment to a judgment creditor for an assignment of an interest in the judgment did not constitute a payment on the judgment. ...
 
MTC Financial v. Nationstar Mortgage (A150916).  The court held that although defendant's deed of trust securing a $205,080 loan was recorded one recording number after a simultaneously recorded HELOC deed of trust securing ...
 
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