Covius Holdings reached an agreement to acquire Nationwide Title Clearing (NTC). Upon the closing of the acquisition, approximately 670 NTC associates will join Covius, including the company’s senior management. Read on for more.
The title industry generated $6.5 billion in title insurance premiums during the second quarter, according to the latest market share analysis from The American Land Title Association (ALTA). That’s up 56.3 percent from the second quarter of 2020.
Accounting and consulting firm Bennett Thrasher added a new chief growth officer. Working directly with the partner leadership team, he will help to enhance growth strategies and business development processes. Read on for more about the new chief growth officer.
Doma (formerly known as North American Title Insurance Co.) added a 20-year industry veteran as an agency manager for Louisiana. She is responsible for servicing independent title agent and attorney customers and securing new business for Doma Underwriting. Read on for more.
A Black borrower from Connecticut claimed her servicer allowed property inspectors to repeatedly harass her due to her race after she fell behind on her mortgage. The plaintiff recently sued the servicer for alleged violations of RESPA, the Fair Housing Act, trespass, negligent supervision of employees and the Connecticut Unfair Trade Practices Act.
The Consumer Financial Protection Bureau (CFPB) has released its first in-depth report analyzing complaint submission patterns by U.S. Census tract. The findings were based on the nearly 1 million consumer complaints submitted to the CFPB between 2018 and 2020.
The Financial Crimes Enforcement Network (FinCEN) has issued an Advance Notice of Proposed Rulemaking to solicit public comment on a range of questions related to the implementation of amendments to the Bank Secrecy Act regarding trading antiquities.The ANPRM is the first in a series of regulatory actions FinCEN will undertake to implement Section 6110 of the Anti-Money Laundering Act, which became law on Jan. 1, 2021.
The California Department of Financial Protection and Innovation (DFPI) has issued its first enforcement action against a debt collector and debt buyer for allegedly violating the California Consumer Financial Protection Law (CCFPL). The DFPI’s action alleged the company unlawfully threatened to sue consumers and garnish their wages and also engaged in “debt parking.”
The General Court of New Hampshire adopted legislation that, among other things adopts the revised uniform law on notarial acts and the uniform real property electronic recording act. The majority of these provisions will go into effect Feb. 6, 2022.
A New York state court addressed whether a title insurer was obligated to inform its agent of a title claim arising from a title policy it issued. Nor did the insurer have to seek its agent’s consent before settling.
As part of a settlement agreement, a plaintiff opened an escrow with a local title company to handle the transfer of real property and payment of settlement funds. It later filed suit against that company, arguing it breached the title policy by failing to resolve all title defects and not filing certain documents with the Nevada State Water Engineer.