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July 2021
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In This Issue |
MESSAGE FROM THE PRESIDENT
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CLTA NEWS
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SACRAMENTO REPORT
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INDUSTRY NEWS
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COURT CASES
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I am proud, honored and excited to accept this year’s appointment as President of the CLTA. First and foremost, I want to thank Randy Bradley for his exceptional leadership through one of the most ...
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It is with great sadness that I am sharing the passing of a former CLTA Board member and title professional, Neil Stonum. ...
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The CLTA Board of Governors elected the following Officers to serve from July 1, 2021 through June 30, 2022 ...
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The CLTA is pleased to welcome a new title insurance company as Regular member of the association, as approved by the CLTA Executive Committee on July 2, 2021. ...
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Senate Bill 263 (Rubio) would require the three-hour fair housing course that is part of the 45 hours of continuing education for real estate licensees to include an interactive participatory component ...
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Assembly Bill 832 (Chiu) was signed by Governor Newson on June 28 to extend tenant, landlord and homeowner protections under existing law until September 30, 2021, including the current ...
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Assembly Bill 889 (Gipson) has been amended in the Senate after passing the Assembly to require that a corporation or LLC that owns rental property must identify the beneficial owner of the qualified ...
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Senate Bill 572 (Hertzberg) was amended to specify that the labor lien created by the bill has the same priority as a judgment lien. The CLTA had sought the clarification to the bill. SB 572 allows the Labor Commissioner to create ...
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Assembly Bill 1584 (Assembly Committee on Housing and Community Development) is an Omnibus Housing Bill containing several changes to California’s housing laws. One thing it does is to ...
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Assembly Bill 959 (Mullin) was recently amended to authorize a park district to adopt an ordinance establishing that an encroachment onto district land constitutes a nuisance and may, by ordinance, establish ...
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The Consumer Financial Protection Bureau’s summer Supervisory Highlights report indicates that CFPB examiners have encountered problems with non-compliance disclosures of fees for lender’s title ...
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The Federal Housing Finance Agency (FHFA) announced last Friday that Fannie Mae and Freddie Mac (the Enterprises) will eliminate the Adverse Market Refinance Fee for loan deliveries effective ...
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California’s Surplus Lands Act is now beginning to seriously impact local governments. In 2019, Governor Newsom signed an executive order to make excess state land available for affordable housing ...
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In March, the Southern California Association of Governments (SCAG) adopted regional housing goals for incorporation into the housing elements of city general plans. The state goal is to have 1.34 million ...
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San Francisco-based mortgage software platform Blend Labs had its initial public offering last week and raised $360 million through an offering of 20 million shares priced at $18. The total valuation of the ...
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Irvine, California, based CoreLogic®, an NYSE company with over 5,000 employees and a leading provider of property data and solutions, announced the execution of a definitive merger agreement ...
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Fitch Ratings’ title insurance industry aggregate 2020 risk-adjusted capital (RAC) ratio decreased to 204% from 216% in 2019. This figure represents the second-highest industry RAC score in the ...
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The title insurance industry generated $5.68 billion in title insurance premiums during the first quarter of 2021 compared to $3.92 billion during the same period a year ago, according to ALTA’s latest ...
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Freddie Mac’s Primary Mortgage Market Survey released last Thursday shows that the 30-year fixed-rate mortgage (FRM) averaged 2.88 percent. ...
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Starcevic v. Pentech Financial Services (D076320). The court held that in a partition action, a judgment creditor who was deemed the priority lien holder loses that status if it does not renew ...
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Bailey v. Citibank (F079311). Plaintiffs filed this action to quiet title based on adverse possession against Citbank whose deed of trust was recorded before plaintiffs' ...
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