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Source of Title Blog : Legislation

Email Fraud in Real Estate Transactions is on the Rise
by Robert Franco | 2017/05/14

A scheme that targets real estate transactions can be devastating to potential homebuyers.  Such scams are on the rise and changes intended to protect settlement professionals may have made matters worse for many innocent, unsuspecting consumers.

[read more...]

Categories: Crime, Escrow/Funding, Legislation, Ohio Legislation, Risk, Liability and Claims, Title Industry

Source of Title Blog :: 2 comments ::

Affordable Care Act ("Obamacare") Allows Tax Credits to Eligible Small Employers
by Robert Franco | 2013/08/16

I wrote this blog for my law firm Web site.  However, seeing as many of us on Source of Title are small employers, I thought it would be good information to share here.  If you are an "eligible small business" you may qualify for a tax credit to help pay for your employees' health insurance.

[read more...]

Categories: General Interest, Legislation

Source of Title Blog :: 0 comments ::

U.S. Congress Addresses Transfer Fee Covenants
by Robert Franco | 2010/10/01

Two competing federal bills were introduced to regulate private transfer fee covenants.  One protects homeowners, and one protects greedy Wall Street profiteers.  Both seek to amend the Real Estate Settlement Procedures Act to accomplish their goals. 

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Categories: Legislation, Mortgage Industry, Title Industry

Source of Title Blog :: 7 comments ::

Main Street Bailout: Will the Government Forgive Mortgage Debt?
by Robert Franco | 2010/08/09

There are rumors floating around that the Obama Administration will order Fannie Mae and Freddie Mac to forgive a portion of homeowners' mortgage debt - at least those that are currently underwater.  If true, it could happen as soon as this month.  It is difficult to tell how well such a move will received.  On one hand, Wall Street got its bailout and many are wondering what good that did for the average homeowner.  On the other, the many people who did not borrow more than they could afford may not like seeing irresponsible borrowers getting let off the hook for their poor decisions. 

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Categories: Foreclosures, Legislation, Mortgage Industry

Source of Title Blog :: 15 comments ::

Freehold Capital Partners Still Trying to Securitize Private Transfer Fees
by Robert Franco | 2010/08/01

Undeterred by the several states that have banned the use of private transfer fees, Freehold is apparently still trying to find a way to securitize them.  The Wall Street Journal has reported that Freehold has approached several Wall Street banks to develop the securities, but has not yet struck a deal.

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Categories: Attorneys, Banking & Finance, Consumer Advocacy, General Interest, Legislation, Title Problems

Source of Title Blog :: 9 comments ::

Unemployment in the Third Depression Era
by Robert Franco | 2010/06/30

The end of May, federal unemployment benefits began to expire leaving 1.2 million jobless Americans cut off.  The House passed a bill providing a six-month extension, but the Senate has not been able to pass such legislation... despite three attempts.  All of the Senate Republicans have blocked the effort. 

This will certainly worsen our already troubled economy as well as pile on to our crippled housing market.  One economist has noted that we may be setting the stage for a Third Depression.  While our Congressman are busy playing politics, Americans are suffering... and it is going to get worse.

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Categories: Economic Indicators, Legislation

Source of Title Blog :: 10 comments ::

Ohio Senate Votes Unanimously to Ban Private Transfer Fee Covenants
by Robert Franco | 2010/05/28

The Ohio Senate, after 6 hearings in the Senate Judiciary - Civil Justice Committee, voted on HB 292 in favor of a complete ban on private transfer fee covenants.  The bill was widely supported by several Ohio organizations, including the Ohio Bar Association, the Ohio Land Title Association, the Ohio Association of Independent Title Agents, the Ohio League of Bankers, and the Ohio Realtors Association.  The only opponents of the bill were Freehold Capital Partners, the organization promoting them nationally, and the Ohio Builders Association. 

[read more...]

Categories: Legislation, Ohio Legislation, Title Industry

Source of Title Blog :: 22 comments ::

Two Iowa Counties Take a Stand for Privacy Rights
by Robert Franco | 2010/05/24

Laws passed in Iowa in 2005 and 2009 require county recorders to participate in an online records system, but two counties are refusing to cooperate.  Two years ago, privacy advocates discovered the system contained hundreds of social security numbers - including Governor Chet Culver's.  Officials in Hamilton and Hardin counties are refusing to provide new records, citing privacy concerns.  The debate is heating up as the Attorney General's office reviews the situation.

[read more...]

Categories: Abstractors, Legislation, Technology, Title Industry

Source of Title Blog :: 4 comments ::

Minnesota, Latest State to Ban Private Transfer Fees
by Robert Franco | 2010/05/20

Yesterday, Minnesota Governor Tim Pawlenty signed a bill that bans private transfer fees in the state.  This makes the 10th state to implement such a prohibition and more than a dozen other states are currently looking at the issue.  Minnesota's ban follows a similar ban in Maryland that went into effect earlier this month. 

[read more...]

Categories: Legislation, Title Industry

Source of Title Blog :: 5 comments ::

Abstracting and the Unauthorized Practice of Law
by Robert Franco | 2010/04/11

An interesting post in the forums raised the issue of the unauthorized practice of law as it relates to title abstracting.  This is a very interesting topic with a long history that starts with the basic question - what is "abstracting?"  The function of an abstractor has changed over the years.  The line between abstracting and the practice of law has been blurred. 

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Categories: Abstractors, Legislation, Opportunities, Title Standards

Source of Title Blog :: 14 comments ::

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Source of Title Blog

Robert A. FrancoThe focus of this blog will be on sharing my thoughts and concerns related to the small title agents and abstractors. The industry has changed dramatically over the past ten years and I believe that we are just seeing the beginning. As the evolution continues, what will become of the many small independent title professionals who have long been the cornerstone of the industry?

Robert A. Franco
SOURCE OF TITLE

 

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