02/28/2022

Dear Members, Let's get right into it today.  Itemization of fees and charges on closing statement. Nothing sparks a discussion amongst Members like a reminder of the rules and regs around fees and other costs regularly charged to buyers or sellers!  Bob Rohan, our Regulatory Compliance Counsel, recently authored in article in The Fund Concept on this topic, which generated some questions and discussion.  I commend the article to you (here is a link https://www.thefund.com/member/fund-concept/january-2022/miscellaneous-fees-on-the-settlement-statement.aspx) but if you like bottom line rules, here is my best effort:

02/01/2022

Dear Members, First of all, IT'S COLD!  I think it's cold everywhere in Florida.  Personally, I love it but many do not share my sentiment.  So to warm you up, here are a few things to note. Cyber fraud.  Let's start off this week's blog posting with a warning and some advice about cyber fraud attempts to divert money coming and/or going in connection with a closing.  I know we nag and nag on how important it is to stay diligent about the threats and risks.  It is so important to have a plan so that you know exactly what to do when your transaction is a target and monies are mistakenly wired to a criminal.  One of our Members had a recent experience that can be best described as a "very close call" and only because the Member was prepared and knew what to do was the money returned.