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FEATURE: SC Supreme Court Examines Attorneys' Roles in Real Estate Transactions

In an attempt to redefine what is considered the unauthorized practice of law, a task force was recently formed in South Carolina to examine what guidelines should be implemented that would establish the best practices for attorneys conducting residential and commercial real estate closings in the Palmetto State. The South Carolina Bar Task Force on Closing Responsibilities developed these guidelines and submitted them to the Supreme Court of South Carolina for its review and possible adoption. Prior to implementing the changes, however, the Supreme Court is holding a public hearing where they will be discussed.


Friday Fast Facts

Weekly developments in the title insurance industry (May 3 - May 9, 2008)


AccuSearch Company
FNF Unveils Redesigned Cyberhomes.com Website

The changes reflect the growth that Cyberhomes experienced during its introductory year, including access to more than 500,000 virtual tours and 700,000 property listings.


Jess Barker
Former Mortgage Execs Indicted on Fraud Charges

The two men, who are the former principals of Olympia Mortgage Corporation, a Brooklyn-based mortgage firm, were charged with conspiracy, wire fraud and bank fraud.


States May Receive $15 Billion in Foreclosure Assistance

House Resolution 5818, entitled "The Neighborhood Stabilization Act of 2008," would provide assistance to communities where foreclosures have severely impacted neighborhoods.


Connecticut Senate Passages Mortgage Aid Legislation

The Connecticut Senate passed legislation that implements several new tactics aimed at helping homeowners avoid foreclosure while also providing funding for future real estate calamities.


Americas Watchdog Calls U.S. Treasury Secretary a "Liar"

Americas Watchdog and its National Mortgage Complaint Center are contesting Henry Paulson's recent statement that the U.S. credit crisis is nearing an end, as "a self-serving lie."


HUD Extends Comment Period for Proposed RESPA Reform Measures

The comment period for the proposed rule to simplify and improve the process of obtaining mortgages and reducing settlement costs under RESPA will be extended 30 days until June 12, 2008.


ZipRealty Provides Consumers More than $100 Million Since its Launch

ZipRealty homebuyers in the following five cities received the most in rebates from the company since its birth in 1999: San Francisco, Los Angeles, Boston, Seattle and Phoenix.


FEATURE: Debate Over Eminent Domain Legislation Shakes California

On June 3, 2008 residents of California will go to the voting booths and decide whether they support one of two pieces of eminent domain legislation that are currently being haggled over by numerous politicians and private and public interest groups throughout the Golden State. The two propositions, which stand in stark contrast to one another, are the result of the U.S. Supreme Court's decision in Kelo v. New London. Despite claims that each represents the interests of California's homeowners, a battle has begun over which one will become law.


FEATURE: U.S. Senate Unanimously Approves Housing Stimulus Legislation

Members of the U.S. Senate unanimously approved the passage of Senate Amendment 4387, The Foreclosure Prevention Act of 2008, on April 10, 2008. The legislation is comprised of several key elements, including aiming to ensure that more families can benefit from FHA programs; assisting communities plagued by foreclosures; providing families with pre-foreclosure counseling and enhancing mortgage disclosure. The legislation, which was crafted by Democratic Senator Christopher Dodd and Republican Senator Richard Shelby, calls for significant changes aimed at helping Americans realize and maintain the American Dream.


On the Blogs

Practical Obscurity and Public Records
Blurbs from the Bossman
2008/05/07
With all the recent stories in the news and posts in the Discussion Forum regarding online public records and privacy issues, I thought that this article I wrote awhile back about how technology has c...
0 comments

NextAce: Miracle Cure Or Snake Oil?
Source of Title Blog
2008/05/06
NextAce has issued a press release that claims their customers are "expected to better weather the current mortgage crisis." They make it sound as though they are offering a miracle cure fo...
1 comments

A Reasonable Examination Of Title
Source of Title Blog
2008/05/02
I have often pondered why there is such a disparity between the search standards in Ohio for marketable title and the search standards promulgated by the underwriters for insurable title. Title insur...
0 comments

Only An Attorney
Source of Title Blog
2008/05/02
The Supreme Court of South Carolina is considering adopting guidelines or "best practices" for attorneys conducting residential or commercial real estate closings in South Carolina. The guid...
3 comments

Searching Mineral Interests--Don't Try This At Home
Blurbs from the Bossman
2008/05/01
As the price of oil continues to rise, the demand for alternative energy sources like coal and natural gas is at an all-time high. This presents a unique opportunity for abstractors affected by the d...
3 comments

Subprime Mortgages: What Would Jesus Do?
Blurbs from the Bossman
2008/04/28
READER DISCRETION ADVISED Warning: The following blog entry was written by a follower of Jesus Christ and contains Scripture passages from the Inspired Word of God. The author assumes no liability f...
10 comments

Blanket Exceptions
Source of Title Blog
2008/04/25
The Texas Department of Insurance recently issued a bulletin regarding the practice of including blanket exceptions excluding the mineral estate from coverage on title policies. The purpose of the bul...
5 comments

Here Comes The Bus
Source of Title Blog
2008/04/24
Small title agents should be paying attention to the abstractors' experiences with volume discounts... because HUD is about to throw them under the same bus that ran over the abstractors. To briefly ...
5 comments

Google Street View Pics Spark Lawsuit
Blurbs from the Bossman
2008/04/24
A southwest Pennsylvania couple is suing Google, Inc. for invasion of privacy. Will a favorable ruling open the door to similar actions against "Big Title" and local governments who post th...
2 comments

A Break In The Chain
Source of Title Blog
2008/04/23
A break in the chain of title can be a very frustrating experience for an examiner. I would say that it is something that we have all encountered at one time or another, but with the popularity of cu...
3 comments

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