Fund News and Alerts

Alert: Fund/Florida Underwriting Bulletin COVID-19 – CARES Act and Federal Foreclosures – Further Extended. Governor’s Executive Order Extended/Amended

Summary: By Executive Order 20-180, the moratorium on Florida foreclosures and residential evictions has been extended to August 31, 2020.  Further the Governor DeSantis has clarified that the moratorium applies to only residential foreclosures & evictions and only for those who have been adversely impacted by COVID-19. Additionally, the CARES ACT moratorium on residential foreclosures or foreclosure related evictions of residential loans insured or guaranteed by FHA, VA, USDA or loans that are owned or securitized by Fannie Mae or Freddie Mac has been extended to August 31, 2020. 

08/03/2020

Alert: Fund/Florida Underwriting Bulletin COVID-19 – CARES Act and Federal Foreclosures – Further Extended

Summary: By Executive Order, the moratorium on ALL Florida foreclosures and residential evictions has been extended to August 1, 2020.  Additionally, the CARES ACT moratorium on residential foreclosures or foreclosure related evictions of residential loans insured or guaranteed by FHA, VA, USDA or loans that are owned or securitized by Fannie Mae or Freddie Mac has been extended to August 31, 2020.

07/02/2020

Alert: Fund/Florida Underwriting Bulletin COVID-19 – CARES Act and Federal Foreclosures – Revised

Coronavirus Aid, Relief and Economic Security Act of 2020 (“CARES Act”) provides for financial relief due to the COVID-19 Virus Pandemic.

05/21/2020

ALERT! FinCEN GTO Extended

A new Geographic Targeting Order (GTO) has been issued effective May 10, 2020 and ending on November 5, 2020.

View the New Geographic Targeting Order (GTO)

05/08/2020

Alert: Fund/Florida Underwriting Bulletin COVID-19 – CARES Act and Federal Foreclosures

Coronavirus Aid, Relief and Economic Security Act of 2020 (“CARES Act”) provides for financial relief due to the COVID-19 Virus Pandemic.

05/01/2020

Fund/Florida Underwriting Bulletin Modifying Online Notary Requirements

Remote Online Notarization has not proven helpful when loan documents must be signed.  Most lenders require wet-signed Notes and in many situations, do not allow any loan documents to be signed electronically.  This has forced many title agents and borrowers into some form of face to face interaction between borrower and a notary, a situation that is not ideal under the current COVID-19 pandemic.

04/17/2020

Alert: Fund Underwriting Guidelines Incident to COVID-19 Pandemic

During recent weeks, Fund Members have encountered a multitude of challenges related to local stay-at-home orders and Governor DeSantis’s Safer At Home Executive Order 20-91. Several local government recording offices have closed to foot traffic, and availability of providers for services ancillary to real estate closings has become limited.  In light of the foregoing, this Fund Alert summarizes underwriting guidelines applicable to Fund Members engaged in closing real estate transactions insured by Old Republic.  

04/08/2020

Alert: Underwriting Guidelines for RON

The new Florida law authorizing remote online notarization (RON) is now in effect but it will take some time before there are Florida RONs registered and taking acknowledgements and oaths under the new law.  As such, title insurance agents are going to be presented with marketing, legal and underwriting issues related to the use of RON notaries from other states.

01/07/2020

FinCEN ALERT! New GTO – Good News/Bad News

A new Geographic Targeting Order (GTO) has been issued effective November 17, 2018 and ending on May 15, 2019.

11/16/2018

ALERT! FinCEN Reporting Update

The current Geographic Targeting Order(GTO) expires on November 16th. The Fund expects that the Department of Treasury will issue another GTO just prior to or shortly after the expiration of the current GTO.

11/12/2018