Information Center

The policies should reflect the correct premiums per Florida Law, not the distorted TRID rating shown on the Closing Disclosure. Read More »

The surcharge should continue to be made payable to Old Republic National Title Insurance Company and mailed to The Fund at this address:

Attorneys’ Title Fund Services, LLC
P.O. Box 628601
Orlando, FL 32862-8601

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Lenders are trying to gather information in order to deliver a Loan Estimate within three days after receipt of a loan application; many do not yet know how to gather the information they need so they are sticking with what they know and who they know - you and the good ole HUD-1 settlement statement! You should resist providing your information on that form because it will give the lender incorrect information about the title insurance premiums and you might get blamed.

Under appropriate circumstances (e.g. you have the contract and will be providing the settlement services), you should strive to provide your standard fees and title insurance premium information on a pro forma Closing Disclosure. This should not be difficult if you are in receipt of the contract and have opened and populated a DoubleTime^® file with basic information. (You need not go to any great effort to capture third-party information, but you should make lenders aware of any requirements you might anticipate.)

Lenders will need title insurance premium breakdowns using the new TRID formula; your settlement fee (don’t forget to include the miscellaneous charges that you may have itemized in the past); and your title search charges (including municipal lien search, if you need one). Include an entry for “Title - Survey” if required for a Form 9 endorsement even if you do not know who will do the work or how much they will charge; lenders will have to come up with that estimate on their own. If your contract includes an association disclosure, let the lender know the amount stated on the disclosure for regular assessments.

If you have not begun to create a file, you may decide to provide a rudimentary “fee sheet.” The goal is to provide enough information about your fees with the least amount of effort since you may not get the deal. Knowing the sales price and loan amount will allow you to provide the “TRID rates” for the policies and endorsements. If you will need a survey for a Form 9 endorsement, let the lender know that it will need to get an estimate since the survey will be required. Any more information than that will depend upon your knowledge of the transaction and your comfort level. Be prepared to be held to any estimates you provide so proceed with caution.

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Yes, both have been revised.  The new versions are the FloridaRealtors/FloridaBar- 4 Rev. 9/15 and the CRSP-14 Rev. 9/15. Read More »

The surtax is not considered to be part of the premium and is not required to be disclosed on that form. Read More »

As reflected in the Notice of Rulemaking Development, it was needed to correct the “inadequate and potentially misleading information regarding the cost of title insurance” and to reverse “the unintended consequence of relieving the settlement agent from closing process liability, even though the settlement agent continues to handle the disbursement of escrow funds.”

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You are never required to use the DFS-H1-2146 form. You are, however, required to comply with Rule 69B-186.008, F.A.C. Escrow Disbursements which went into effect on Oct. 28, 2015. The rule requires the comparison of inaccurate title insurance rates found on the CFPB’s Closing Disclosure form with the actual promulgated rates required in Florida. The rule also requires the use of specific language and signatures for buyers, sellers and settlement agents in all transactions where title insurance will be issued. Use of this form assures compliance with the rule! It provides a “safe harbor”!

When using the form for cash, commercial real estate, and other transactions which do not involve the CFPB’s Closing Disclosure, the table on the form may be left blank or crossed out.

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