Category Archives: Title Insurance New York

New York State Title Insurance Industry: Is It All About Luxury Box Suites, Steakhouse Dinners And Champagne-fueled Parties?

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Update December 26, 2019: The decision from the New York State Appellate Court has reversed Judge Rakower’s second ruling. Regulation 208 has been reinstated. However Judge Rakower’s decision regarding Closers and ancillary fees still stands. Headline July 5, 2018: The New York State Title Insurance Industry Takes On The New York State Department Of Financial Services In […]

Read The Courts Decision As The New York State Title Insurance Industry Wins Its Article 78 Proceeding Fight!

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The New York State Title Insurance Industry Takes On The New York State Department Of Financial Services In An Article 78 Proceeding….And Wins! A year after the open letter below was written (yes, time does fly when you’re having fun) and more than six months after NYSDFS Regulation 208 went into effect, it has been […]

New York State Real Estate Attorney’s And Mortgage Originators…Do You Have A VIABLE Title Insurance Plan B?

Argentina 2018 World Cup

During the 2018 World Cub the perennial soccer giant Argentina sat on the ‘brink of elimination, desperately needing both a Plan A AND a Plan B! Speaking to the strategy being employed by Argentina’s coach Jorge Sampaoli, an article in The New York Times had the following to say, ‘…There was no plan B, to be used […]

What Impact Has GTO, FinCEN’s Anti-Money Laundering Geographic Targeting Orders, Had On The Luxury Residential Real Estate Market?

In 2016 the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) implemented its Geographic Targeting Orders, or GTO (January 2016 announcement here)! What was the purpose of this 2016 reporting rule that required title insurance companies in specific high-end residential real estate markets around the United States, to drill down and find who the […]

Here’s How The Belmont Stakes Winner And Your New York Title Insurance Company Are Similar!

Or, at the very least, how they should be similar! The Belmont Stakes Winner vs. Your Title Insurance Company How would you compare the title insurance company you use for New York real estate transactions to the difference between a Kentucky Derby winner only and a Triple Crown horse like Secretariat? This was an equine […]

What Do Clients Think About Hallmark Abstract Service – A Testimonial

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Why Do People Choose To Use Hallmark Abstract Service? As many of you know by now the focus of the articles at the Hallmark Abstract Service blog tend to be about issues that either affect the entire title insurance industry, topics that we feel may be of interest to our readers across industries, available events offering business […]

In New York State The Title Insurance Industry Is Public Enemy #1 Or, Words Matter!

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Well maybe not #1, but some in Albany seem to feel that the title insurance industry in New York is solely comprised of the proverbial snake oil salesman who will do and say anything to get business! For the New York State Department of Financial Services, the operative word in the prior sentence is ‘do‘ […]

In Business Nothing Lasts Forever But Change, While Unsettling, Can Often Be A Good Thing!

Zorn

Opening the Business section of Long Island’s Newsday this morning imagine my shock to read the following headline: ‘REPLACING 1940 FOOD HOME‘ with a photo of Zorn’s Poultry Farm in the background! As someone who picks-up food from Zorn’s of Bethpage when I’m in the neighborhood, whenever we have guests at the house or for […]

New York State Title Insurance Industry: ‘I’m Mad As Hell And I’m Not Going To Take It Anymore’!

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Update January 16, 2018: ‘The New York State Senate unanimously passed a bill Tuesday that will allow title companies to resume buying clients coffee, taking them out for lunch or treating them to a round of golf. Sponsored by Sen. James Seward of Oneonta, the bill — which now heads to the Assembly and Gov. […]

January 12, 2018: New York State Title Insurance Industry Showdown With Regulators And Politicians In Albany!

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Due to some of the more onerous provisions of New York State Department of Financial Services (NYSDFS) Regulation 208 that went into effect December 18, 2017, the various ‘constituencies‘ involved and affected will be meeting in Albany January 12, 2018!  ‘The Assembly Insurance Committee is holding a hearing about DFS regulation of the Title Insurance Industry […]