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Real estate firms may be on the hook for wire fraud losses: CertifID

Housing Wire

In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty. Despite governing this issue, the code does not include a mandate for account matching.

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The appraisal industry’s governance problem

Housing Wire

Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training. The post The appraisal industry’s governance problem appeared first on HousingWire.

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Some title insurance policies protect against home title theft. Does yours?

Housing Wire

Sophisticated printers and software turned out fake documents that could fool even the trained eye, and notary stamps, once symbols of trust, became available for purchase online. Moreover, legal services will cost at least $5,000 and likely much more. The guardians had been outpaced, leaving property owners vulnerable.

Insurance 399
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Lawyer letter details NAR’s internal harassment investigation

Housing Wire

She also claims that if the suit had continued, NAR would have been able to file legal documents that “cast a different light on the allegations.” However, in the letter, Drake states that based on her investigation, the allegations in the Brevard lawsuit were not true.

Legal 384
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Exposing Occupational Licensing Abuses Nationwide

Appraiserblogs

Her experience as a licensed real property appraiser in West Virginia turned out to be the perfect training ground for the study of public corruption, restraint of trade and government overreach. Are Bifurcated Appraisals Legal in Your State? Who would have thought it?

Legal 126
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Lingering challenges servicers are still facing as a result of COVID-19

Housing Wire

Fannie Mae and Freddie Mac offer scripts for these conversations, but if servicers are increasing headcount to accommodate the numbers of borrowers needing assistance, it still requires them to effectively train new staff in a virtual, work-from-home environment – another strain on resources.

Legal 397
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UWM gave brokers big discounts to play with. It could be risky

Housing Wire

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices. “It’s not necessarily a problem.

Lending 346