Fund News and Alerts


Change Is In the Air - CFPB is Rewriting the Rules

Change Is In the Air - CFPB is Rewriting the Rules

The federal rules regulating the forms, processes and procedures employed for residential mortgages will be changing. The new Consumer Financial Protection Bureau (CFPB) has published a proposed rule that seeks to radically change existing residential loan disclosure and settlement documents, processes and procedures.

10/03/2012


Third Parties Vetting Title Agents

Third Parties Vetting Title Agents

In April, 2012 the federal Consumer Financial Protection Bureau (CFPB) released a bulletin regarding "service providers". The bulletin indicates that the CFPB expects lenders to "have an effective process for managing the risks of service provider relationships."

08/22/2012


The Royal Palm Bank of Florida, Naples, Florida

The Royal Palm Bank of Florida, Naples, Florida

We have been advised that on Friday, July 20, 2012, the Florida Office of Financial Regulation closed The Royal Palm Bank of Florida and the Federal Deposit Insurance Corporation (FDIC) was named receiver.

07/23/2012


Fraudulent Bank of America Short Sale Letters

Fraudulent Bank of America Short Sale Letters

Bank of America has notified the national underwriters that a short sale scam is being perpetrated involving properties on which Bank of America is the holder of a note secured by a mortgage or deed of trust. In its letter Bank of America has indicated that the perpetrators of the scam send approval letters to title companies that mimic legitimate approval letters from Bank of America, including the bank's logo, formatting and language.

07/11/2012


ALTA Series 14 (Future Advance) Endorsements

ALTA Series 14 (Future Advance) Endorsements

The Florida Office of Insurance Regulation has completed the process of reviewing and approving revised ALTA Series 14 Endorsements for use in Florida by all title agents.

07/05/2012


Fake Title Agencies

Fake Title Agencies

The Fund would like to make you aware of a type of fraud that is becoming more and more prevalent.

05/31/2012


ALTA Series 14 (Future Advance) Endorsements

ALTA Series 14 (Future Advance) Endorsements

The Florida Office of Insurance Regulation is in the process of reviewing and approving revised ALTA Series 14 Endorsements for use in Florida by all title agents.

04/24/2012


Central Florida State Bank, Belleview, Florida

Central Florida State Bank, Belleview, Florida

We have been advised that on Friday, January 20, 2012 the Florida Office of Financial Regulation closed Central Florida State Bank, Belleview, Florida, and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

01/23/2012


Policy Reporting Requirements

Policy Reporting Requirements

Effective January 1, 2012, every title insurance underwriter will have to collect new data for the National Association of Insurance Commissioners (NAIC) and the Florida Office of Insurance Regulation (OIR).

12/20/2011


Premier Community Bank of the Emerald Coast, Crestview, Florida

Premier Community Bank of the Emerald Coast, Crestview, Florida

We have been advised that on Friday, December 16, 2011, the Florida Office of Financial Regulation closed Premier Community Bank of the Emerald Coast, Crestview, Florida and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

12/19/2011

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