Fund News and Alerts


Alert! FinCEN GTO Extended

Alert! FinCEN GTO Extended

A new Geographic Targeting Order (GTO) has been issued effective April 19, 2024 and ending on October 15, 2024.

04/18/2024


Goodbye, GTOs; Hello Forever Reporting?

Goodbye, GTOs; Hello Forever Reporting?

On Feb. 7, 2024, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking. The new rule would replace the temporary Geographic Targeting Orders (GTOs) that have for years required title insurance companies and their agents to report residential real estate purchases above a certain dollar amount in certain localities by business entities without institutional financing. FinCEN issued the proposed rule on Feb. 16, 2024.  The proposed rule is currently subject to a 60-day comment period.   Read the article

04/01/2024


Work Smarter and Faster with 30+ Integrations in ClosingVue

Work Smarter and Faster with 30+ Integrations in ClosingVue

Fund Exclusive Integrations make it quick and easy to do all this, right in the software: 

  • Place & Import Product Orders
  • Process CPLs & Jackets
  • Submit & Pay Policies
03/26/2024


Additional Recording Requirement for Deeds in Highlands County

Additional Recording Requirement for Deeds in Highlands County

Fund Members should be aware of an additional recording requirement for Highlands County. Highlands County Ordinance No. 22-23-23 requires that an affidavit from each of the grantees in a deed be recorded together with and just after the deed.

03/20/2024


Addressing Title Objections to Development Agreements and Developme...

Addressing Title Objections to Development Agreements and Development Orders

Objections to development agreements and development orders generally arise in commercial transactions. This article is the third in a series of articles addressing specific title objections. Like its predecessors, it is designed to help Fund Members analyze specific objections’ merits and provide potential resolutions. For guidance in addressing title objections related to surveys or tenants, please see, “Addressing Specific Title Objections Relating to Surveys and Tenants,” 54 Fund Concept 49 (May 2022), and for guidance in addressing water and oil, gas, and mineral right objections, please see, “Addressing Title Objections to Water Rights and Oil, Gas & Mineral Rights,” 55 Fund Concept 69 (June 2023).

Read the article

03/01/2024


2023 Sightings of Florida’s ”Legal Chameleon”

2023 Sightings of Florida’s ”Legal Chameleon”

Florida’s homestead exemption laws have been compared by legal scholars and courts to a chameleon “which changes color to accord with the background against which it is viewed.” Crosby and Miller, Our Legal Chameleon: The Florida Homestead Exemption, 2 U. Fla. L. Rev. 12 (1949). Under Florida’s Constitution and Statutes, there have developed three distinct aspects of Florida homestead law: (1) exemption from creditor’s claims, (2) restrictions on alienation, and (3) tax exemptions and benefits. Art. X, Sec. 4(a), Fla. Const., protects the homestead from forced sale by creditors unless the judgment stems from one of the limited exceptions in the Constitution. Art. X, Sec. 4(c) Fla. Const., establishes restrictions on the alienation of a homestead. Restrictions with respect to the devise and descent of homestead property are codified in Secs. 732.401 and 732.4015, F.S. Art. VII, Secs. 4(d) and 6, Fl. Const., set forth Florida’s homestead tax exemption laws which are codified in Ch. 196 and Sec. 193.155, F.S. This update covers the 2023 reported state and federal case sightings of the Florida “legal chameleon” (a/k/a Homestead).

Read the article

02/01/2024


ClosingVue Training & Support Makes Your Transition Easy

ClosingVue Training & Support Makes Your Transition Easy

Stop Worrying; Start Learning!

Worried about learning the ins and outs of a new closing software? Relax. ClosingVue, the title and settlement production software for Fund Members, makes the transition easy.

01/30/2024


Fraud and Forgery - Catch Me If You Can

Fraud and Forgery - Catch Me If You Can

The rise in instances of fraud and forgery in real estate transactions continues to sound alarms across the industry. The statistics governing fraud and forgery and the way the parties are targeted gives all of us cause for concern. CertifID, a third-party verification service, reports that 2023 data it collected revealed that there was a record fivefold increase in mortgage payoff fraud attempts from the first quarter to the second quarter alone.  Read the article

01/02/2024


Policy Provision Made Plain: Liability Noncumulative

Policy Provision Made Plain: Liability Noncumulative

With the recent rise in the number of fraudulent transactions, there has been a related increase in claims for complete failure of title. In these circumstances, both the insured owner and lender may have covered claims. Provision 10 of the 2021 Owner Policy, Liability Noncumulative, reduces the amount of funds available to be paid to the insured owner by the amount that the insurer has paid under a covered claim to the holder of a mortgage on the owner’s property. There has been similar language in the ALTA (American Land Title Association) policies since at least the 1970’s. Although the provision in the new 2021 polices is not new, it is still often misunderstood. Read the article

12/01/2023


Keep Everyone Updated with ClosingVue

Keep Everyone Updated with ClosingVue

Where Are We On…? How Soon Can I Expect…? When Should We Send…?

Imagine no more back and forth with everyone about the closing process status.  What would you do with the extra time? 

Find out with ClosingVue, the title and settlement production software for Fund Members. 

11/29/2023

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