Title Matters

Don’t Let Your Clients Become Victims!

By Mitchell R. Landry, President | Louisiana Association of Independent Land Title Agents As title, banking, mortgage, insurance and real estate professionals, we, as an industry, are responsible for many of the protections necessary to ensure the safety of our clients’ personal information, assets and transactions.  We have all instituted safeguards in our respective sectors to do just that.  We have all spent thousands of dollars implementing industry-standard protective measures.  We have all spent thousands of man hours putting those…

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Title Matters – I checked with my bank and the money isn’t there!

TITLE MATTERS August 2017  This August 2017 Title Matters is presented by: Robin Perrero M & M Title Shreveport, LA I checked with my bank and the money isn’t there!  Whether you are the title agent, who wired out seller’s proceeds or a payoff amount, a seller expecting sales proceeds to be wired into your checking account, or a buyer wiring money into the title company’s account for the purchase of property, these words can mean that someone may be…

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Title Matters – Summer Briefs

Summer Briefs As we survive this incessant Louisiana heat and those almost daily showers that make it feel even hotter, I have to appreciate the fact that our careers primarily keep us in the cool environments of our offices. In thinking about preparing this blog, I searched for topics that would be of interest to fellow independent title attorneys. I came up with two topics that I thought would be of at least some interest to most of you out…

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Title Matters – CFPB

Arguably the most sweeping change to our industry in the last century came in the form of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which gave rise to the Consumer Finance Protection Bureau (the “CFPB”). The tens of thousands of pages of regulations promulgated by the CFPB have made compliance the focus of the consumer lending and title industries. While we have all attempted to navigate the sometimes overly-burdensome task of deciphering voluminous regulations and even predicting the…

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Title Matters – RESPA Enforcement Announcements

NY, OH and MN Make RESPA Enforcement Announcements: Is This a Trend to Watch?         In the past several weeks, three states with little in common have reported on RESPA-related enforcement activities ranging from prior fines and punishment to admonishing licensees about rules on inducements.  To keep you informed, we take these in order to provide you the latest: Minnesota: In March, the Minnesota Commerce Commissioner announced that the Commerce Department had fined Liberty Title, Inc. $45,000.00 for a…

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Title Matters – Wire Fraud Alert

AND THIS FRAUD JUST ALMOST HAPPENED…. On a phone call last week, our office set a closing date and time, as well as, having a discussion about the customer wiring money the morning of the closing. The customer called our office around 9:15AM on 3/15/17 and wanted to know why our closing coordinator sent him a request to have funds wired today (2 days before closing) after we had already discussed it last week. The customer stated that was an…

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Title Matters – Private Works Act

PRIVATE WORKS ACT This month’s article is presented by: Randy Olson, Attorney at Law 1819 W. Pinhook Road, Suite 114 Lafayette, LA 70508   The Private Works Act (the “Act”) is an important piece of legislation for title attorneys to know and understand. Codified in Louisiana Revised Statute § 9:4801, et seq., the Act provides contractors, subcontractors, and material providers of “private works” the right to file liens on the project in order to protect their ability to get paid for the work performed on…

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Title Matters – President’s Message: The Future of the CFPB and the Reintroduction of Title Insurance-Related Legislation

It did not take long for NAILTA to hit the ground running in 2017! Members of NAILTA were in Washington D.C., this week to meet with policymakers at the Consumer Financial Protection Bureau (CFPB) and to discuss the impact of HR 517, the Ensure Fair Prices in Title Insurance Act, that was reintroduced on January 13, 2017 by Representative Keith Ellison (D-MN). More on HR 517 in a moment, but first the CFPB news. There seems to be a decent…

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Title Matters – Rep. Ellison Introduces the Ensure Fair Prices in Title Insurance Act

Press Release   Last week Rep. Keith Ellison (D-MN) reintroduced the Ensure Fair Prices in Title Insurance Act (H.R. 517), which would ensure homebuyers are not overcharged when purchasing title insurance. “Working Americans shouldn’t get cheated out of hard-earned dollars when they invest in a home for their family.” Rep. Ellison said. “When sellers or real estate agents refer buyers to a title insurance company, homebuyers assume they’re getting the best deal. But agents or sellers may have a financial…

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Title Matters – Vol. November 2016

This month’s article is presented by: Mitch Landry, Attorney at Law LAILTA INCOMING PRESIDENT’S MESSAGE At this time of year, I typically comment that I cannot believe we are at the end of yet another year.  I doubt that I am alone in that.  But, here we are, closing out 2016!  To quote the great Mickey Mantle, “If I had known I was going to live this long, I’d have taken better care of myself!” Well, what a year it…

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