News + Publications
News + Publications

ALTA’s publications and news center brings the latest information affecting the title and settlement services industry to ALTA members. Whether you are looking for industry news, practical insights on issues affecting title insurance or our suite of legal and regulatory publications we have the news you need.
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ALTA, along with affiliated land title associations, organizes dozens of world-class meetings each year. Each event is an opportunity for you to learn from industry experts, meet industry vendors and network with your peers.
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Career + Learning

Since 1971 ALTA has been the source of practical knowledge and skill-based training solutions for the title insurance industry. ALTA is dedicated to providing cutting edge educational solutions to our members through several options.
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Business Ops
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Policies + Standards
Policies + Standards

One of ALTA’s main reasons for existing is to provide the title and settlement industry with industry-specific policy forms and standards that help the industry stay compliant with current regulations.
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About
About

Founded in 1907 and headquartered in Washington, D.C., ALTA is the national trade association and voice of title insurance agents, abstracters* and underwriters are Active Members, ranging from small, one-county operations, to large national title insurers in the united states.
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Topics
Topics

In our topics collection, you can stay up to speed on the most relevant issues in our industry—and learn how ALTA is engaged. Visit a topic page to find all the information ALTA has on that subject—from a summary to relevant events, educational resources, consumer and client-facing materials, business resources, and advocacy information.
- Title Waiver Pilot
  The Biden Administration released a plan aimed at lowering housing costs that includes a pilot to waive the requirement for lender’s title insurance on certain refinances. ALTA called the announcement a political gesture offering a false promise of savings for homeowners while exposing consumers, lenders and taxpayers to greater financial risk.
- Digital Closings
  ALTA strives to help members identify the benefits and risks associated with digital closings in order to put the industry in the best position to solve problems and inspire innovative ideas. ALTA is your source for tools and education about digital closings.
- Artificial Intelligence
  Artificial Intelligence (AI) has emerged as a transformative force in the title insurance and settlement services sector, providing a diverse array of capabilities to enhance both efficiency and productivity.
- Cybersecurity
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- Wire Fraud
  Wire fraud is one of the biggest threats in the title industry. ALTA members must be aware of this threat and of the resources available to fight the fraud. This page includes many resources, tools and articles to help protect your company and customers from fraud.
- Financial Crimes Enforcement Network
  The proposed rule by U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will require title and settlement companies nationwide to report information about all-cash residential transactions nationwide involving legal entities and trusts.

Industry News

Homestore forced to pay legal fees for former exec

October 29, 2004

Court rules in Tafeen case

Inman News

The Court of Chancery of the State of Delaware has ruled that Homestore must pay former company executive Peter Tafeen all reasonable attorney's fees and costs in connection with the Securities and Exchange Commission and U.S. Justice Department investigations and civil lawsuits that have been filed against Tafeen for his purported role in a scheme to inflate Homstore's revenues.

The Court said Tafeen also is entitled to payment of his attorney's fees for bringing the lawsuit against Homestore.

Homestore in a statement said it is analyzing the ruling and considering its options, including a possible appeal of the decision.

The amount of legal fees Homestore will be required to pay is undetermined at this time, but the company speculated in a previous investor conference call that it could cost as much as $3 million, according to Homestore spokesperson Erin Campbell.

Tafeen, who was a marketing and business development executive at Homestore, left the company in the fall of 2001, when accounting irregularities were reported along with other alleged improprieties. Tafeen was a hard-charging young executive brought into Homestore from Pointcast by former Homestore CEO Stuart Wolff.

The accounting irregularities of 2000 and 2001 led to the restatement of several quarterly earnings reports and prompted an SEC investigation, federal fraud charges against a number of former Homestore executives and a class-action shareholder lawsuit.

Homestore settled the shareholder suit with lead plaintiff, the California State Teachers Retirement Fund, in March for about $93 million. However, the pension fund still has claims pending against Stuart Wolff, Homestore's former CEO, and Tafeen. The CalSTRS suit accused Homestore and individual defendants of falsifying financial statements and engaging in accounting irregularities, and was set to begin trial in June but was delayed.

In October 2003, Tafeen filed a lawsuit against Homestore, claiming the online real estate company owes him $2 million for expenses already incurred, plus unstated sums of future expenses in connection with the federal investigations and lawsuits. The lawsuit was filed in Delaware Chancery Court in New Castle County.

Copyright 2004 Inman News

Contact ALTA at 202-296-3671 or [email protected].