Westcor launches identity verification tool to help title agents prevent fraud

Westcor Land Title Insurance Co. is looking to up its game against fraudsters. The title firm has launched val-ID by Westcor, a tool designed to help title agents validate the identities of home buyers and sellers, according to an announcement on Wednesday.The tool is powered by the technology of In

Los Angeles to pay $38.2M to settle accessible housing lawsuit

The City of Los Angeles will pay $38.2 million in a settlement agreement stemming from a 2017 case brought by the U.S. Department of Justice (DOJ) on behalf of a disabled resident. The DOJ alleged the city had “fraudulently obtained millions of dollars in housing grants from the U.S. Department of H

GSEs announce new tenant protection plans for multifamily properties

The government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac on Wednesday announced new minimum standards to be included in tenant leases on GSE-backed multifamily properties, following up on a policy announced last month by the Federal Housing Finance Agency (FHFA).The new lease standards

Feds Crack Down on Illicit Use of All-Cash Real Estate Deals for Money Laundering

GettyThe U.S. Treasury Department has issued a new rule that aims to prevent nefarious actors from using residential real estate deals for money laundering.The final rule issued on Wednesday will require real estate professionals to report the true identity of all-cash homebuyers who use shell compa