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The Legal Description – Daily News

• Biggert introduces NFIP extension, with a twist
  As May 31, the day the National Flood Insurance Program expires, looms closer, Rep. Judy Biggert, introduced a short term extension to the program, in hopes that the Senate would pass a long-term extension in that time. She did more than just change the date in the statute, however. She put in some of the key reforms introduced as part of the long term exten […]
• Judge denies summary judgment in breach of contract case
  After it was discovered that a closing agent failed to pay off prior mortgages when conducting several refinance transactions, the lender went to the underwriter to make it whole. When the underwriter denied the claim, the lender sued for breach of contract, among other things. Read on to find out what the U.S. District Court for the Northern District of Ill […]
• Minnesota adds exceptions to closing agent licensing requirements
  Minnesota Gov. Mark Dayton signed a bill that adds certain professions the list of those exempted from the state’s closing agent licensing law. Read on for the details. […]
• Three co-conspirators arraigned for time-share fraud
  Three people from southern New Jersey were arraigned on charges of mail and wire fraud, conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in a $2.6 million time share mortgage fraud. They are only three of 16 people involved in the alleged fraud. […]
• The CFPB is coming! Shapiro to speak at 2012 Summit
  Erica Meyer, owner and publisher of October Research, LLC, announced that Barton Shapiro, senior advisor for Small Business, Community Banks and Credit Unions at the Consumer Financial Protection Bureau, will speak at the 2012 National Settlement Services and Compliance Summit, to take place in Cleveland, Ohio, June 12-13. […]
• CFPB to simplify points and fees
  The Consumer Financial Protection Bureau unveiled potential rules designed to simplify mortgage points and fees and bring greater transparency to the mortgage loan origination market. Read on for more details. […]