The Trusted Adviser

September 2012 | Volume 5 - Number 6

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Update from ATG Administration

Title Agents Face Major Closing Changes

ATG and ALTA Offer Solutions

Jerry Gorman photoA perfect storm of federal and self regulation is about to hit the title and settlement services industry, largely the result of Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The first waves are starting to hit shore, but there is still a good deal of uncertainty as to what the final rules will be. However, ATG and our agents need to start bracing for the inevitable changes that will occur in 2013 and later.

ATG reported on this topic earlier this summer in a Call to Action - CFPB Releases Closing Disclosure Form Special Bulletin, July 24, 2012. The following article reiterates that information, and provides additional detail as well as insight from ATG leadership. Read more...

Jerry T. Gorman
Senior Vice President - Downstate Operations

ATTORNEYS | Practice Notes

Of Note

Bankruptcy: In re Crane — Mortgages are avoidable in bankruptcy if the recorded mortgage fails to include the total indebtedness, the interest rate, and maturity date all on its face.



RESPA; Title Insurance: Howland v First American Title Ins Co — Class certification is inappropriate for overcompensation violations of RESPA; a case-by-case examination is required to determine violations.


Decedents' Estates; Estate Tax: People v Kole — Trustee and executor was personally liable for failure to pay additional state estate tax owed after federal audit, even though the state had provided a Certificate of Discharge and Determination of Tax.


Judgments; Liens: Hair v Schellenberger — In Indiana, a judgment does not constitute a lien on a property unless it is statutorily compliant. If the judgment is not duly entered and indexed in the judgment docket, it does not provide notice to bona fide purchasers.


Foreclosure: Deutsche Bank v Pauk — A lender’s failure to provide a timely payoff statement for a short sale was a breach of a mortgage contract that the borrower may argue as a defense to the foreclosure of the mortgage.

IN THE NEWS | ATG Holiday Reception


ATG Holiday Reception
Thursday, December 13, 2012
Adler Planetarium | Chicago
Save the Date!

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[Last update: 9-19-12]