Fund News and Alerts

Another Reason to Love E-Closing DT

One of E-Closing DT’s most valued features, Automatic Reconciliation, helps users prevent losses, reduce common accounting errors and safeguard escrow funds for a small additional monthly fee. 

10/19/2022

New ALTA 2021 Commitment, Policies & Endorsements are Here!

The Fund is pleased to announce that the Florida Office of Insurance Regulation has approved the ALTA 2021 Commitment, Policies, and fifteen new or amended endorsements (the 2021 Forms) for use in the State of Florida effective October 3, 2022. The 2021 Forms are the next generation of insuring forms. Read the article

10/03/2022

ALTA 2021 Forms Update

Read the Concept Article, Stay Tuned, ALTA 2021 Policy Forms are Coming Soon, for helpful information.

09/19/2022

Communicate Easily, Securely & Automatically with E-Closing DT

3 More Reasons to Schedule A Demo

One of E-Closing DT’s many great features is the Closing Portal, a user-friendly tool that lets you communicate easily, securely and automatically with all transaction parties right within the software. 

09/15/2022

UCC-1: The What, Why, and Where of Financing Statements

Commercial mortgages are rarely recorded without a corresponding UCC-1 financing statement (UCC-1). In addition to the real property, commercial lenders often require additional collateral as consideration for making the loan. A UCC-1 is required to establish the lender as a secured party and perfect the lender’s security interest in that other collateral. Perfection establishes the order of priority of claims of multiple creditors with a secured interest in the same collateral; i.e., who gets paid first in the event that the borrower defaults and there is a forced sale of the collateral.  Read the article

09/01/2022

ALTA 2021 Forms Coming Soon!

The Florida Office of Insurance Regulation (OIR) has approved the 2021 American Land Title Association (ALTA) forms for use in Florida.  

The new forms (including a new Commitment, Loan and Owner’s Policies, Short Form Residential Loan Policy and Endorsements) will be available soon. OIR has approved use of the new ALTA 2021 Policy forms in October. 

Important: You will be required to use the new ALTA 2021 forms after a short transition period.

08/29/2022

Work Safely & Securely with Cloud-Based E-Closing DT

Our industry is under attack by cybercriminals. Take the next step in data protection with cloud-based closing software E-Closing DT! 08/17/2022

Title Now Podcast: Cryptocurrency, Blockchain and Real Estate Transactions

A new episode of Title Now is now available! Tune in to learn about the roles cryptocurrency and blockchain play in the world of real estate transactions.  Find out about the risks, advantages, and how this may affect YOU in your practice. 

Listen In: Apple Podcasts, Google Podcasts or Online

08/12/2022

Contending with Memorandums of Interest

The Fund has noticed an increase in the number of recorded instruments titled “Memorandum of Interest” or words of similar import (the Memo) affecting real property throughout the state. The Memo typically refers to a Homeowner Benefit Agreement (Agreement) and is recorded in the public records to memorialize the Agreement and give notice of its specific terms. Such Agreements can affect real property in numerous ways and are often purported to be in effect for lengthy terms – decades in many instances. This article explains the Agreements, and their impact on owners’ and purchasers’ title to real property. In addition, this article identifies insuring concerns, and discusses approaches for obtaining satisfactions and releases from said Agreements. Note should be taken that specific Agreement terms may vary and examples discussed here are for illustrative purposes only. Read the article 08/01/2022

FREE On-Demand Webinar: Avoiding Mortgage Payoff Fraud

Real estate practitioners face pronounced dangers due to cybercrime. Learn the nature and type of cybercrimes affecting Florida real estate closings; why mortgage payoff fraud is more pernicious than other types of cybercrimes, and steps the frontline practitioner can take to help reduce today’s threat vectors, including the implementation of new technologies, and the role of insurance. Watch Now

07/13/2022