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March 2014 | Volume 7 - Number 3

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Update from ATG Administration

Implementing ALTA Best Practices: As Predicted, Lenders Have Taken Notice

ATG is ahead of the Curve, Will You be Ready?

ATG has been working to raise awareness about American Land Title Association (ALTA) Best Practices. The program is gaining traction with major lenders; one of the nation's largest, Wells Fargo, published its support of Best Practices in a recent newsletter, indicating that they expect title agents to comply.

Best Practices has been recognized by the Consumer Financial Protection Bureau as an important tool to restore consumer confidence in the real estate market. It is becoming imperative that real estate title agents move toward full compliance in 2014. Read more...

Christine M. Sparks
ATG Vice President and Managing Attorney, Audit Department

ATG MEMBERS | Underwriters' Bulletin

Procedural Updates

ATTN WISCONSIN MEMBER AGENTS: New Wisconsin Search Standards

Microsoft Ends Windows XP Support — Beginning April 8, 2014, Microsoft will no longer support Windows XP. If you are running Windows XP in your office, learn what you need to do before the deadline.

Title Tips

HUD as Second Mortgagee: Reverse Mortgages

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ATTORNEYS | Practice Notes

Legislative Update

Illinois
Title Insurance: Public Act 98-0398 - Amends the Title Insurance Act to add new requirements.

Casenotes

Illinois
Adverse Possession: Hoch v Boehme - A party cannot establish color of title under Section 13-110 of the Limitations Act based on the fact that it paid property taxes for seven years if the land was not vacant and unoccupied.

Indiana
Mortgage Foreclosure: Nationstar Mortgage v Curatolo - Trial court did not have authority to modify a mortgage agreement without the consent of both parties participating in a settlement conference if the parties do not agree to the modification.

Wisconsin
Mortgages: Park Bank v Jackson - When a party refinanced the first mortgage and entered into a subordination agreement with a second mortgage holder, the subordination agreement could not be held invalid for summary judgment purposes.

IN THE NEWS | New Officers in 2014

ATG Announces Corporate Promotions - ATG is proud to announce two new Presidents and a Vice President:

Thomas G. Cullen Vice President - Wisconsin Operations

Arden K. Miner President and CEO ATG LegalServe, Inc.

Nancy R. Vallone President and CEO The Judicial Sales Corporation

WHAT'S NEW | Trust, CLE, Process, and Auction Services

Trust Client Brochure — ATG Trust Company provides a brochure promoting its client services, including implementing estate plans, asset protection, and trust administration.

ATG TRUST MEMBERS: Use this excellent marketing tool to introduce ATG Trust Company to your clients. Contact us at info@atgtrust.com or 312.338.7878 with your copy order or your questions.

April CLE Programs

4-5-2014: Navigating a Wisconsin Real Estate Transaction (6.00 CLE applied for in WI)

4-9-2014: Searching, Liens, and Statutes of Limitation (1.50 MCLE in IL)

4-12-2014: Navigating an Illinois Real Estate Transaction (5.00 MCLE in IL, 1.00 PR applied for)

We also have more than 30 OnDemand recorded webcasts available 24/7, including Ethics/Professional Responsibility hours. See the full list of OnDemand programs (login required).  

FAST AND FLEXIBLE: The Process Server Responsive to Your Needs — Get the finest process serving available to lawyers today. Learn what the LegalServe Difference can make in your practice and place your order today! Find us with Google Plus.

Auctions by ATG – Your Commercial and Residential Property Auction Resource — Auctions by ATG provides professional and effective live and online real estate auction services. Sellers and buyers of all types of commercial and residential property benefit from our totally transparent auction process, superior online bidding service, and attractive pricing model. Our extensive targeted marketing often leads to pre-auction sales that close in 30 days or less.

Join Our Email List to receive Auction Property of the Week notices and updates on our auctions.

Visit our new website at www.auctionsbyatg.com for more details. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160. Follow us on Facebook and Twitter.

[Last update: 3-18-14]