General Counsel Blog

04/03/2015

Important Legislation, Closing Insight & CFPB Updates

A New Senate Bill, an Update on the Closing Insight Integration, PLUS CFPB’s “Your Home Loan Toolkit”

03/27/2015

FR-BAR & CFPB Updates

Dear Fund Member: Real estate market reports and our branch order volume indicates that many of you are very busy right now. That is great news, and I am sure you are enjoying the increase in your business. Here at The Fund, we are very busy putting the final touches on Fund Assembly, making sure that the program information is the very best it can be and that the experience of each attendee is educational, informative AND enjoyable. With an expected attendance of 1300, the logistical challenges are huge, but we will meet the challenge! I am really looking forward to attending my first Assembly as an “insider” and interacting with many of you to see how things are going as we move towards August 1, 2015.

03/20/2015

New Lender Announcements & the Closing Disclosure Preparation Checklist

Several more lenders have announced how they are going to prepare and deliver the new Closing Disclosure form. In this short video, I address the lenders' announcements as well as the Closing Disclosure Preparation Checklist designed to help you prepare now and in the upcoming months for the CFPB changes.

03/13/2015

Pillar 3 and CFPB Privacy Compliance

Dear Fund Member: I have just completed two months of trips around the state to visit with Members and talk with them about the new TRID rules (the new nomenclature for the CFPB rules that go into effect August 1, 2015). There were several consistent themes: most Members were aware that changes were coming, but they weren't familiar with all of the details; the 3-day advance delivery of the Closing Disclosure is going to present some real logistical challenges to a smooth closing; lenders are also going to have to significantly change their processes and procedures.

03/05/2015

Closing Disclosure Updates and Important Real Estate News

Dear Fund Member: March has arrived, and with the start of a new month, it is important for me to share several areas of interest that will affect the way you handle your real estate transactions.

02/27/2015

Legislation and its Impact on the Real Estate Industry

On March 2nd, when the Legislature reconvenes, two new bills may be passed that affect Florida real estate. In this short video, I address the prospective new legislation as well as the ways in which we at The Fund support our elected officials.

02/20/2015

Communication and the New Closing Disclosure

Dear Member, On February 17, 2015, Norwood Gay, Bob Rohan and I attended a forum in Miami sponsored by the American Land Title Association and the Mortgage Bankers Association. The forum was a day long exploration of various topics related to the new CFPB rules governing residential mortgage loan transactions. The presenters were twenty six professionals that included lenders, title attorneys, CFPB staff, real estate brokers and builders. I will be sharing what we learned at the forum over the next several months, but first I want to focus on one important topic today: Communication.

02/12/2015

New Ways to Disclose Title Insurance Premiums

Many of us at The Fund have been working diligently to uncover all the changes that are taking place with the new CFPB rules set to take effect August 1st. In this short video, Melissa J Murphy discusses what those changes are and what’s being done for the Florida real estate industry to prepare for August 1st.

02/03/2015

Information on Lender Vetting

As you know there are many changes happening because of the rules promulgated by the CFPB. Lenders across the country are now on the hook for all parts of the mortgage process, and many of them are personally vetting everyone they work with. You need to be aware of your responsibilities and how this will affect the lenders you work with. Melissa Murphy addresses members concerns’ in this short video.

01/30/2015

Getting Familiar with the New Closing Disclosure

Now is the time to get familiar with the new Closing Disclosure rules.