Fund News and Alerts

The CF6R is available in DoubleTime 7.0.6 and can be used immediately for new files after May 15th.

NOTE: On or about July 1st, the CF6 will no longer be available to use. A final decision on the exact date has not yet been made.

Please visit our Information Center: https://www.thefund.com/Information-Center/ALTA-Commitment.aspx

For additional information and instructions on filling out the Schedules and jacket: https://www.thefund.com/Information-Center/pdf/ALTA/ALTA-Supplement_to_FPH.pdf

The Loan ID can be entered in the Closing File module | Loan tab | Terms tab or the Loan Module | Classification tab.

By: Roy Oppenheim, Oppenheim Law, Weston Florida

Preparing for a marathon race can only be accomplished with the right advice and preparation to help you overcome obstacles and reach the finish line. Buying a home is analogous to the kind of preparation needed to reach the finish line. Having your real estate professional team prepare and coach you in order to avoid hurdles and make the process of closing on a residential home easier.

By: Michael J. Posner, Esq., is a partner in Ward, Damon, Posner, Peterson & Bleau

Realtors and Community Association Managers provide valuable real estate services to sellers and buyers of real estate, as well as managing homeowners and condominium associations respectively. However, in providing their respective services, they frequently have issues that have substantial legal ramifications in connection therewith and, in providing advice and opinions on same, run the risk of being accused of the unlicensed practice of law. Knowing what is permitted and what requires specific use of a licensed attorney is important for both Realtors and Community Association Managers.

De: Alexander G. Cubas, Esq., Alexander G. Cubas, P.A.

Discusión de Victoria Moreno vs. First International Title, 176 So.3d 301.

By: Ira B. Price, Esq., Ira B. Price, P.A. & Legal Title Services, Inc.

Discussion of Victoria Moreno vs. First International Title, 176 So.3d 301.

By: René Rutan, Real Estate Council Relations Manager, Florida ARECs

If you have been shopping for a new home recently, as I have, you have undoubtedly discovered the Community Development District, or CDD. Many large, multi-phase communities with lifestyle amenities are now relying on this method of funding development, so it is essential that homebuyers and the real estate agents serving them have a full understanding of what CDDs are and how they work.

Additional Warning About the Ongoing Email Hacking Scam

TRID rules apply to the loan given to the borrower; not the purchase by the buyer. If the LLC was obtaining the loan the transaction would qualify for the exemption provided for “extensions of credit to other than a natural person.” If the LLC was buying the residence for rental purposes it would likely qualify for the other § 1026.3(a) exemption for “an extension of credit primarily for a business, commercial or agricultural purpose.”

Remember also that there is no prohibition on using the Closing Disclosure for exempt transactions. Ultimately it is the lender who makes the decision as to forms usage.