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February 22, 2012

Real Property & Asset Management Practice Group

David H. Cox
(Co-Chair)

James R. Michal
(Co-Chair)

Rick W. Bryan

Allison G. Clary

Christopher A. Glaser

Glenn Golding

Thomas Penfield Jackson

Roy L. Kaufmann,
Of Counsel


Allyson C. Kitchel

James N. Markels

John J. Matteo

Clifton M. Mount

David A. Rahnis

Mitchell B. Weitzman








 

 

 

 

 

 

 

 

 

By: Roy L. Kaufmann and David H. Cox

 

DISTRICT OF COLUMBIA

DC: Foreclosure Mediation.  It is no secret that, since the inception of the Saving D.C. Homes from Foreclosure Act enacted in November of 2010, residential foreclosures in the District have ground to a halt.  An amendment to the Act is being considered by the DC Council and the time is ripe for comment.

See Complete Article

Federal: A bill introduced in the US House of Representatives,  H.R. 3595: Mandatory Foreclosure Mediation Act would require mediation by federal statute.

DC: New Recorder of Deeds:  Ida Williams, formerly Deputy Recorder of Deeds, then Acting Recorder of Deeds, has been named the Recorder of Deeds.  Ms. Williams, an attorney who hails from the title industry, has already demonstrated a fresh, dedicated, and pragmatic approach to her position.  Of note, the per-page recordation fees are now replaced by flat fees

DC/MD: WASA.  WASA seems to have done completely away with the final water bill request forms and the methodology developed between WASA and DCLTA after many joint sessions.  It now appears that settlement has to occur first and then you request the final bill!  According to June Adams of the Customer Service Department of WASA “We no long process final bill request forms.  In order to process your request you will need to provide us with a copy of the final signed HUD-1.  You may [send to WASA by mail, fax or email]. “

DC: Title Insurance Act.  There have been several recent developments of interest relating to the Title Insurance Act.  One is proposed legislation and the other is pressure being brought to bear on DISB to rescind a bulletin restricting title agents from offering discounts or rebates to consumers. 

See Complete Article

DC:  Mechanic’s Lien.  The Recorder of Deeds has issued its new Notice of Mechanic’s Lien Form.  A Bill introduced by Phil Mendelson would make some welcome changes to the current law. 

See Complete Article

Federal: New Combined HUD-1/Truth in Lending Form proposed.   No sooner has the title industry adapted to the new HUD-1 form, than the Consumer Financial Protection Bureau has circulated a complete revision.

See Complete Article

DC: Proposed Collection Agency to be part of OTR, to collect parking tickets and other infractions with the power to record liens.   The District Debt Recovery Act of 2011, introduced by Mary Cheh, is scheduled for action on May 1, 2012.  The new “Central Collection Unit” would collect each delinquent account or other debt owed to the District (excluding taxes, child support and some other minor items).  Liens would be filed at the Recorder of Deeds which would have to be handled at closing.  One stated purpose of the legislation is to collect parking tickets and other infractions.

See Complete Article

DC: Taxation of Commercial Deeds of Trust, Refinances, and Modifications.  The Office of Tax and Revenue has issued a Notice ratifying the position that tax will be based upon the difference between the face amount of the refinance instrument and the outstanding principal amount of the old debt (providing that tax was paid on the old debt or that the prior instrument was exempt from taxation).  This does not apply to certain residential property containing 5 dwellings or less, which are usually exempt.

 

D.C. LEGISLATIVE UPDATE CHARTS

19th Council Period (2012)

18th Council Period (2009-2010)

 

NEWS, SEMINARS & EVENTS:

Council of the District of Columbia

Oversight Hearings

Public Services & Consumer Affairs Agency Performance: Dept of Insurance, Securities, and Banking

DISB Performance Hearing

Thursday, February 23, 2012 at 1:00 p.m.

John A. Wilson Building
1350 Pennsylvania Ave NW Room 412
Washington DC 20004
(202) 727-1000

Office of Tax and Revenue and Chief Financial Officer

Monday, February 27, 2012 at 10:00 a.m.

John A. Wilson Building
1350 Pennsylvania Ave NW Room 500
Washington DC 20004
(202) 727-1000

DCLTA Membership Meeting & March Seminar

Tuesday, March 6, 2012

Maggiano’s Little Italy at Friendship Heights
5333 Wisconsin Avenue, N.W.
Washington, DC 20015

For registration form, click here.

 

Please feel free to circulate this news alert to others in the industry, both within and outside your office.

Sincerely,

Real Property and Asset Management Group
Jackson & Campbell P.C.


email: Roy L. Kaufmann at rkaufmann@jackscamp.com
voice: (202) 457-6710
web: www.jackscamp.com

email: David H. Cox at dcox@jackscamp.com
voice: (202) 457-1634
web: www.jackscamp.com

 

 

 

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 © 2012 Jackson & Campbell, P.C.