Title Insurance Issues

Chicago Title On How A Positive Rep Puts You At Risk Of Cybercrime – Technology

From BISNOW

Cybercriminals using “spear phishing” (this is not a cover band, we promise)—targeting real estate professionals and others known to be intimately involved with the financial end of transactions. Via seemingly innocuous emails, these predators are positioning themselves to intercept funds as they change hands during the course of a deal.Ahead of his upcoming webinar WIRE FRAUD: Protect Your Clients & Your Firm, Michael gave Bisnow an in-depth look at the world of spear phishing and how reputable firms c

Source: Chicago Title On How A Positive Rep Puts You At Risk Of Cybercrime – Technology

Title Insurance Issues

CFPB Publishes Spring 2016 Regulatory Agenda – Lexology

Amendments to the TILA-RESPA Integrated Disclosure rule. Also in July 2016, the CFPB anticipates issuing a proposed rule to make clarifications and provide further regulatory guidance concerning its “Know Before You Owe” mortgage rule (also known as TRID). In response to industry concerns, the CFPB will request comment on adding new provisions and amending other provisions of Regulation Z to provide additional clarity for creditors. According to the CFPB, these amendments are intended to promote consistency in the provision of information regarding federal mortgage transactions to consumers.

Source: CFPB Publishes Spring 2016 Regulatory Agenda – Lexology

Title Insurance Issues

NAR Pushing CFPB For TRID Reforms

From Mortgage Orb.

The National Association of Realtors (NAR) is pushing for reforms to the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosures (TRID) rule, also known as the Know Before You Owe rule.

The bureau announced in April that it would be clarifying its TRID rule come July. It is currently gathering feedback on its proposal to improve the rule through additional verbiage that would bring greater clarity and reduce risk for lenders, Realtors and investors.

In a recent letter to the bureau, NAR asks the CFPB to clarify that lenders can share the closing disclosure (CD) with third parties, including real estate agents, provided that the lender receives consent form from the consumer.

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