CYBER FRAUD LEGAL UPDATES (RESPA, CFPB & MARIJUANA IMPACTS)
Jaime Johnson, AVP/Training & Innovations Consultant at WFG Title (National Underwriter)
Cybersecurity and wire fraud breaches are valid threats in the real estate industry, despite efforts to minimize such risks. Wire fraud remains a significant threat and costs our industry billions of dollars in losses each year. Cybercrime continues to grow and criminals are becoming increasingly astute with an expanding toolbox of tricks, from Phishing scams and electronic payments fraud, to “smart” device and computer hacking. Jaime Johnson, AVP/Training and Innovations Consultant, will discuss these threats and how to proactively approach cyber security in the industry.
Charles C. Cain, EVP of Agency Development & Government Affairs Liaison at WFG Title (National Underwriter)
How do changes in Washington effect our industry? The Real Estate Settlement Procedures Act, or RESPA, was enacted by Congress to provide homebuyers and sellers with improved disclosures of settlement costs and to eliminate abusive practices in the real estate settlement process. RESPA has been impacted over the years by several changes and amendments. Chuck Cain will provide insight to some of the recent changes and how they affect our business.
More than half of the nation’s 1 million Realtors® reside in jurisdictions with laws that allow for medical or recreational use of marijuana, which conflicts with federal law and has potential impacts on all types of real estate transactions, from residential and commercial brokerage to property management and leasing. Michigan has approved the marijuana legalization vote for this November and as such, this is a hot topic in our industry.
Charles Cain, WFG Title
EVP Agency Development & Govt. Affairs
Jaime Johnson, WFG Title
AVP/Training & Innovations
July 19, 2019