Fund News and Alerts

Alert! Commercial Transactions – Freddie Mac Multifamily Seller/Servicer Guide Update

Fund Members should be aware of Freddie Mac’s Bulletin Number M2024-4, issued August 15, 2024, which updates the Freddie Mac Multifamily Seller/Servicer Guide.

08/20/2024

Alleged Suspicious Activity — SilverLake Loan Servicing

We have recently been alerted to an unpaid mortgage involving Silverlake Loan Servicing, a Wyoming based loan servicing company. Because of this, please exercise caution when relying on payoff letters from Silverlake Loan Servicing. It is crucial to verify that SilverLake Loan Servicing is the legitimate servicer for the mortgage being paid off.

08/05/2024

Alert - Lee County Grantor/Grantee ID Requirement Applicable to Electronically Submitted Deeds

Fund Members should be aware of a requirement to include government-issued photo identification (IDs) with electronically submitted deeds in Lee County effective June 1, 2024. Florida Statute 28.2225 created the Title Fraud Prevention Through Identity Verification Pilot Program in Lee County for the purposes of assisting law enforcement to verify the parties engaged in a property-related transaction

05/30/2024

Alert! FinCEN GTO Extended

A new Geographic Targeting Order (GTO) has been issued effective April 19, 2024 and ending on October 15, 2024.

04/18/2024

Additional Recording Requirement for Deeds in Highlands County

Fund Members should be aware of an additional recording requirement for Highlands County. Highlands County Ordinance No. 22-23-23 requires that an affidavit from each of the grantees in a deed be recorded together with and just after the deed.

03/20/2024

FinCEN GTO Extended; Eight More FL Counties Must Report Beginning November 21, 2023

A new Geographic Targeting Order (GTO) has been issued effective beginning October 22, 2023, and ending April 18, 2024 for Miami-Dade, Broward and Palm Beach counties, and for the newly added counties of Hillsborough, Pasco, Pinellas, Manatee, Sarasota, Charlotte, Lee and Collier, for which the effective date is November 21, 2023, ending April 18, 2024.

View the New Geographic Targeting Order (GTO)

10/20/2023

ALERT! Do Not Fall Victim to Fraud

Ensure that you have thoroughly vetted the parties to the transaction, especially the Seller!

10/17/2023

ALERT! IRS Form 1099-S Filers Beware

All IRS Form 1099-S filers beware!  Obstacles lie ahead for both electronic and paper form submitters.

07/06/2023

ALERT! Legislative Update re Foreign Interests in Real Property

The legislature was busy this year, and while there are several laws impacting real estate that we are analyzing for our Members, here is one to note in particular:

• SB 264, Chapter No. 2023-33, effective July 1, 2023. See, https://laws.flrules.org/2023/33

Among other things, this law sets some distinct requirements on the timing and type of interests foreign principals may maintain, if at all, in certain Florida real estate.

05/15/2023

ALERT! Legislative Update re Foreign Interests in Real Property - En Español

La legislatura estuvo ocupado este año, y aunque hay varias leyes que afectan bienes raíces que estamos analizando para ustedes, aquí explicamos una nueva ley en particular:

• SB 264, Capítulo No. 2023-33, efectivo a partir del 1 de Julio de 2023. Ver, https://laws.flrules.org/2023/33

Entre otras cosas, esta ley establece algunos requisitos distintos sobre cuando y la calidad o tipo de interés que un principal extranjero puede mantener, si es que puede tener, en ciertas propiedades en la Florida.

05/15/2023