General Counsel Blog

07/25/2022

Free “Plague” Video, FIRE Update & Additional Resources

Dear Members, Mortgage payoff fraud (and fraud generally) continue to plague our industry! I know I say this over and over but you absolutely have to be diligent…..well, really, you need to be SUPER diligent….. to protect clients and yourself again insidious wire fraud. We have a great FREE webinar to offer you on this topic. More below. On a few brighter notes, we have some updated information for you on the log-in system with the IRS for filing your 1099s, some helpful FAQs on Sec. 1031 exchanges and some new, easy systems for premium payments and product ordering with The Fund. Let's get started!

06/13/2022

Important Update on Memoranda of Homeowner Benefit Agreement

Dear Members, Another short and sweet blog posting to bring something important and new to your attention.

06/08/2022

Let’s Change the Laws: Take this Brief Estoppel Survey

Dear Members, Estoppel reform? 2023 might be "the year" for us to try and get some changes made to the HOA/Condo estoppel laws (I am referring to the process for requesting an estoppel and the information required to be included in it). It will be extremely helpful for me to get a sense of the true pain points you are experiencing about the current process so I have put together a simple, brief survey for you to complete. This will give me the data I need to begin discussions of a proposed bill with key stakeholders and legislators. Here's a link to the survey. https://www.getfeedback.com/r/WrtSf2EY Thanks!

05/13/2022

Wire Fraud & Fraudulent Mortgage Payoffs - Our Newest Pandemic!

Dear Members, This is a special, one issue message. Wire fraud involving fraudulent mortgage payoffs is our newest pandemic! Recently several Members experienced wire diversions of over SIX FIGURES in handling a mortgage payoff. STOPPING THIS IS WITHIN YOUR CONTROL (99% OF THE TIME). So the purpose of this message is to share what we have been observing and give you some very strong guidance on what to look for. Do not assume I am covering all possibilities in this message because the fraudsters will constantly try to out-smart you…….so you have to outsmart them!

05/06/2022

Alert, Acceptance Approval & Attorney Appointments

Dear Members, It's May. All kinds of stuff going on. Graduations. Mother's Day. Warmer (much warmer!) weather.

04/18/2022

Recommendations & Resources: Recent Cyber Fraud & Scam Incidents

Dear Members, It is time for some updates. And two of them are about evil fraudsters that just want to steal someone's money. So play close attention!

03/14/2022

Really Important Info on Sanctions, Data Call, RON Obligation and DoubleTime

Dear Members, OMG. There is a lot going on…. so this blog is overflowing with information for you. I hope you find it helpful. (Personal note: I hate Daylight Savings Time. But I love MARCH MADNESS!!! It starts this week and it is one of my favorite times of the year. So if I am slow in responding to an email…………)

02/28/2022

Fee Disclosure, E&O Limitations & Legal Ed Opportunities

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

Hot Topics for a Chilly Week

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.

01/07/2022

Refresher & Reminder to Kick Off 2022

Dear Members, Welcome to 2022! The new year is always a good time to re-group, re-set priorities and vow to just "do better." On the surface, it is "business as usual" for most of us and the holiday break was probably only a brief respite from the challenge of meeting your client and customer needs in this crazy real estate market. But in case you have room in your brain for a few bits of information, here goes…….