Fund News and Alerts


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


HUD Suspends Allied Home Mortgage Corporation

HUD Suspends Allied Home Mortgage Corporation

On Tuesday, November 1, 2011, HUD suspended Allied Home Mortgage Corporation from originating and underwriting new mortgages insured by the Federal Housing Administrator.

11/08/2011


Prohibited Practices - Old Harbor Bank, Clearwater, Florida

Prohibited Practices - Old Harbor Bank, Clearwater, Florida

We have been advised that on Friday, October 21, 2011, the Florida Office of Financial Regulation closed Old Harbor Bank, Clearwater, Florida, and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

10/26/2011

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