Fund Alerts
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ALERT Update! Change in premium rates
On April 5, 2023, I sent an alert about Senate Bill 7052 which contained provisions changing Florida's title premium rate from a promulgated rate to a "file and use" model. Today's alert is an update on that situation.
04/12/2023 -
ALERT! Change in premium rates
On Monday, April 3, 2023, proposed Senate Bill 7052 was filed. Section 23 of that bill would effectively eliminate promulgated rates for title insurance in Florida. Recognizing the huge potential impacts of such a change to Florida’s rate structure, The Fund, the members of the Florida Land Title Association and the Real Property, Probate and Trust Law Section of the Florida Bar immediately began efforts to educate Florida lawmakers on this issue. We emphasized how our current rate structure supports title agents. While we want to make you aware of this proposed legislation, please rest assured that The Fund and its professional team in Tallahassee are working to oppose Section 23, of Senate Bill 7052.
04/05/2023 -
Alert: Vacant Lot Scams – Beware of Notarizations Taken Abroad
Previous alerts on this issue have been sent in 2009, 2010, 2018 and 2022.
On April 12, 2022, The Fund released an alert regarding an increase in the volume of fraud scams concerning vacant lots; the most common being an unencumbered vacant property whose owner lives outside of the United States. The fraudster poses as the legitimate owner of the property and (in most instances) forges a deed from the true owner to our insured owner(s). A claim arises when the true owner of the property comes forward to challenge the insured deed, many times in the form of a suit to quiet title.
03/30/2023 -
Alert - Scam Involving Sale of Vacant Lots – it is still with us!
Alerts about this scam have been sent to Fund Members in 2009, 2010 and 2018. This scam has not gone away!
04/12/2022 -
Alert - Closings Involving Sanctioned Russian Banks Cannot Be Completed
In light of the U.S. Federal government sanctioning of Russian banks pursuant to Executive Order, closings involving sanctioned Russian banks cannot be completed. This includes requesting payoffs of mortgages or the sending of any funds to satisfy a mortgage.
03/04/2022 -
Critical Fraud Alert - Forged Deed
Michael Torsten Steen and Maria Catharina Steen are the true owners of Lot 12 and the N 5 feet of Lot 11, Block 4, Surfside No. 2, PB 23, Page 16, Public Records of Pinellas County (18212 Sunset Blvd, Redington Shores, FL 33708).
02/16/2022 -
Alert: FinCEN E-Filers Beware
On June 16, 2021, FinCEN updated (“Modernized”) the website for filing Currency Transaction Reports (CTR). The new look will likely confuse experienced e-filers the first time it is accessed.07/14/2021 -
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: 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 -
Alert! Unrecorded Utility Easements
The Fund has become aware of unrecorded utility easements between 1940-1980, in favor of Sumter Electric Cooperative, INC. They were recently recorded in Lake, Marion and Sumter Counties.
04/19/2018
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