Fund News and Alerts


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


Prohibited Practices - The First National Bank of Florida, Milton, FL

Prohibited Practices - The First National Bank of Florida, Milton, FL

We have been advised that on September 9, 2011, the Office of the Comptroller of the Currency closed The First National Bank of Florida, Milton, Florida and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.  All deposit accounts, including brokered deposits, have been transferred to CharterBank, West Point, GA, and will be available immediately.

09/12/2011


Fraud with a Smartphone

Fraud with a Smartphone

The Florida Land Title Association recently reported that one of its title agent members fell victim to a fraud scheme involving a smartphone and the new apps that allow a check to be deposited by using the smartphone's camera to take a picture of the front and back of the check.

08/23/2011


Prohibited Practices - Lydian Private Bank, Palm Beach, Florida

Prohibited Practices - Lydian Private Bank, Palm Beach, Florida

We have been advised that on August 19, 2011, the Office of the Comptroller of the Currency closed Lydian Private Bank, Palm Beach, Florida including its division Virtual Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sabadell United Bank, National Association, Miami, Florida to assume all of the deposits of Lydian Private Bank including its division Virtual Bank.

08/22/2011


Approval of the 2006 ALTA Forms

Approval of the 2006 ALTA Forms

Today, the Florida Office of Insurance Regulation approved the use of the 2006 ALTA Forms.  These forms are available for immediate use by Fund Members.  In Florida, after March 1, 2011, the use of the 2006 ALTA Forms will be required for all loans sold and delivered to Fannie Mae.

02/28/2011


Scam Involving Sale of Vacant Lots (Updated and Republished)

Scam Involving Sale of Vacant Lots (Updated and Republished)

This alert was originally published in January 2009.  The scam has not gone away, and has recently been brought to our attention again.

12/09/2010


Important Florida Land Title Association Bulletin

Important Florida Land Title Association Bulletin

As those who attended the FLTA Convention two weeks ago learned, two years ago, the Florida Legislature mandated that effective January 1, 2011, all contracts for the sale of a residential property must include certain information about the windstorm mitigation rating of the structure.

11/18/2010

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