Fund News and Alerts

ALTA is the Voice of the Title Insurance Industry

ALTA is the national voice of the title insurance industry whose members include underwriters, agents and title insurance service providers such as The Fund. You may have recently received an invoice from The American Land Title Association, ALTA, for your 2014 membership dues or license for the use of ALTA’s policy forms.

04/25/2014

Tallahassee Report – Contact your legislators in support of HB 321 and SB 570

This year, The Fund and Old Republic National Title Insurance Company are leading the charge to support important legislation that will ensure Florida citizens have ready access to local title insurance agents, including attorney agents. As described in the February 2014 Concept, the need for this legislation was created by the Florida Supreme Court’s significant limitation of the economic loss rule and decades of precedent in its March, 2013 decision: Tiara Condominium Association, Inc. v. Marsh & McLennan Companies, Inc., 110 So.3d 399 (Fla. 2013).

04/01/2014

Title Insurance Policy Surcharge Combined and Extended Until No Sooner Than June 13, 2014

In January 2014, the collection of the surcharge in  connection with the National Title Insurance Company receivership was delayed  until April 4, 2014.  The Office of  Insurance Regulation is currently in the process of combining the surcharge for  National Title Insurance Company with a surcharge for the new K.E.L. receivership  and determining the amount of surcharge to cover both.  Accordingly, the earliest that the surcharge  will be collected is June 13, 2014.

03/31/2014

Wells Fargo Releases Expectations Regarding ALTA's Best Practices

Wells Fargo, one of the nation's largest lending institutions released a newsletter to its network of settlement agents on March 6, 2014.  In this communication, Wells Fargo states "As expectations on lenders increase so will expectations on third party service providers."  Wells Fargo added they plan to "continue to expand and enhance third party oversight capabilities for title and settlement companies in order to monitor and measure performance."

03/11/2014

Fraud Alert in Miami-Dade, Broward and Palm Beach Counties

Based on our research of the pertinent land records and court records in connection with insuring title to real property in Miami-Dade, Broward and Palm Beach counties, the following names have been red-flagged in ATIDS:

• Antoaneta Iatova
• Issak Almaleh
• Mihail Yotov
• New York Sport Foundation
• American Home Mortgage Servicing

02/06/2014

Florida's Title Insurance Data Call FAQ

What is the Data Call?
For many years, title insurers have provided financial information to state regulators. Beginning in January, 2014, licensed title agencies must start capturing certain information regarding their practices, income and expenses to be reported annually. The information captured in 2014 will be reported to the Office of Insurance Regulation (OIR) in 2015.

01/17/2014

Fraud Alert!

We would like to alert you to a fraud scheme that could result in the theft of money from your accounts. Here is how the scheme works:

01/09/2014

Policy - Express Checkout

We are thrilled to bring you a new, efficient way to issue your policy at closing.  It is called Policy - Express Checkout, which enables policy issuance and delivery before instrument recordation has occurred.  You may now work directly from your marked-up commitment to prepare the final owners’ and lenders’ policy schedules at the precise moment when all of the required and pertinent information is at your fingertips and top-of-mind. 12/19/2013

CFPB Releases Integrated Mortgage Disclosure Rule

CFPB released the Integrated Mortgage Disclosure Rule also known as "Know Before You Owe." You can find the entire rule, summaries of the rule, and other information by visiting the CFPB Integrated Mortgage Disclosure website.

11/22/2013

CFPB Combined Disclosure Final Rule Released November 20, 2013

Visit The Fund's CFPB Home Page for additional resources


 

11/21/2013