Tallahassee, TITL, Title Notes, Title Now & More
Dear Members,
There is a lot going on this week so hang onto your hats! I hope it is all helpful information.
Legislative Update on premium rates. I am very pleased to update you on the legislation filed earlier this month that changed the way title premiums are set (from promulgated to "file and use"). An amendment has been filed that removes this provision from the Senate version of the bill. (It was not in the House version of the bill from the beginning.) This is great news for us. To be clear: we are not completely out of the woods on this issue until both bills are passed by the House and Senate and signed into law by Governor DeSantis. However, we are confident this issue is behind us for this year.
Reminder: Our regulator (Office of Insurance Regulation) is responsible for reviewing title insurance rates on a regular basis and, if appropriate, proposing changes to the rates. We will be ready to participate in this process when needed!
TITL and support for our advocacy efforts. The current legislative session presents you with really good examples of why our advocacy on your behalf is so important. Please give to TITL, our political committee! You can donate via credit card here https://secure.anedot.com/titleinsurancethroughlawyers/donate or print out a contribution form for mailing here https://www.thefund.com/titl/support-statement.pdf. Thank you for your support!
Title Note Revisions are here. You may not anticipate the revisions to our Title Notes as much as you might anticipate another episode of Ted Lasso but, hey, they are important and revisions keep you current! Explore the Summary of Revisions here https://www.thefund.com/member/resources/title-notes.aspx to view the substantive changes made through December 31, 2022. Review the changes and show off your knowledge in conversations at the next REC meeting!
Train your Staff. With the market no longer in a frenzy, now may be an opportune time to further the education of your staff. Fund Paraprofessional Training is marking its 3rd year this May as a wholly online, 3-day training class geared specifically to paralegals. The course is led by Fund Legal Education Attorney Linda Monaco and is an ideal way to train new hires in the nuts and bolts of the closing process or in the promotion of, say, a post-closer to the role of a closer. Very reasonably priced at $525 and the class consistently receives off the chart reviews. The training is next offered May 3-5. Here is a link to the registration page.
Last chance for Assembly 2023! Not really. But April 26 is the last day to register for in-person Assembly this year. After that date, the only in-person option is walk-up/on-site registration. It's gonna be great, of course! Here's a link to the registration page where you can also view the program and opportunities to network with fellow Fund Members. https://www.thefund.com/assembly.aspx
Back office support. Sign up for two upcoming Title Now Popup Webinars where I talk with companies that offer an array of support services for attorneys and title agents. If you would like to explore options for help with closing statements, closing disclosures, escrow reconciliation, data call, Best Practices, document preparation……..the list goes on and on. These are FREE. 30 minutes! Here is a link to register if you are interested https://www.thefund.com/titlenow
What else can I share? Wire fraud is still horrible. Be careful!
Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
and General Counsel
04/21/2023