NY top court clears probe of inflated appraisals

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New York's top court has cleared the state attorney general to pursue allegations that First American Corp. and subsidiary eAppraiseIT inflated property appraisals under pressure from client Washington Mutual.

The Court of Appeals says federal regulations do not pre-empt state claims alleging fraud and violations of real estate appraisal rules.

Then-Attorney General Andrew Cuomo brought the 2007 civil suit alleging the practice contributed to the national subprime mortgage crisis.

Washington Mutual collapsed in 2008 and became the nation's largest bank failure ever.

Six top court judges ruled that Congress envisioned "a robust partnership with the states" in aiming to prevent real estate appraisal abuse.

In a dissent, Judge Susan Read says the suit challenges a bank's federally regulated mortgage practices.

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Texas Adopts Statewide Texting-While-Driving Ban

Effective September 1, 2017, Texas will become the 47th state to pass a statewide ban on texting while driving. Governor Abbott’s signing of House Bill 62 is an effort to unify Texas under a uniform ban and remedy the “patchwork quilt of regulations that dictate driving practices in Texas.”

The bill specifically prohibits drivers from reading, writing, or sending an electronic message on a device unless the vehicle is stopped. That includes texting and emailing. It does not, however, prohibit dialing a number to call someone, talking on the phone using a hands-free device, or using the phone’s GPS system.

Violations would be punishable by a fine ranging from $25 to $99, to be set by each municipality. Although penalties could rise to as much as $200 for repeat offenders.

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