Fund News and Alerts

Attention Fund Corporate Members!

The address for submitting your monthly escrow account reconciliations has changed. 01/08/2010

Short Sale Programs

The Fund has become aware of several "short sale programs" advertised on the internet and elsewhere that promise to make the investor lots of money with little or no work by purchasing and selling property through short sales.

06/08/2009

Implementation of Ordinance No. 08-133 - Certificate of Use

The Miami-Dade Board of County Commissioners (BCC) on March 3rd, 2009, implemented new procedures addressing Ordinance No. 08-133, effective 10 days after its adoption, unless vetoed by the Mayor. If vetoed, the resolutions become effective upon an override by the BCC.

03/04/2009

Phishing for Trust or Escrow Account Information

We have become aware of a scam wherein criminals posing as potential buyers of real property are asking law firms and title agencies for wiring instructions, purportedly for the purpose of initiating an incoming wire of deposit funds.

02/13/2009

Scam Involving Sale of Vacant Lots

The Fund has received information about an identity theft scam involving vacant lots in Lee County. The lots are owned by people residing in foreign countries. The identities of the owners are stolen, and the imposter lists the vacant lot for sale. The imposters only communicate by e-mail, and provide deeds executed and notarized in African countries. When the Consul of one African country was consulted, he verified that the notary seal was bogus and the address the imposter/seller provided did not exist.

01/07/2009

Real Estate Legislative Development Update

With some of the most potentially impactful real estate legislative developments in decades transpiring both in Tallahassee and in Washington, The Fund remains active in advocating for members' legislative interests. This update from The Fund includes key highlights of both the Florida Title Insurance Study Advisory Council and the newly-released RESPA Reform rule. We hope that you will share this information and use it to open or continue dialogue with your fellow real estate professionals and policy makers.

12/16/2008

Special Alert from FDIC About Phony E-Mail

The FDIC has issued Special Alert SA-204-2008 dated October 9, 2008 warning of a phony e-mail communication alleging to be from the FDIC. This Special Alert should be shared with all staff.

10/10/2008

Documentary Stamps for "Short Sales"

The Florida Department of Revenue has issued Technical Assistance Advisement No. 08B4-006 dated September 23, 2008 to provide guidance in determining the correct documentary stamp tax on deeds for "short sales". That TAA can be found at: Short Sales TAA for your review and consideration.

09/24/2008

Security Bank, National Association, North Lauderdale, Florida

We have been advised that on Friday, May 4, 2012, the Office of the Comptroller of the Currency closed Security Bank, National Association (N.A.), North Lauderdale, Florida and the Federal Deposit Insurance Corporation (FDIC) was named receiver. All deposits have been transferred to Banesco USA, Coral Gables, Florida and will be available immediately.

05/12/2008