Fund News and Alerts

  • Powers of Attorney: The Essentials

    Powers of attorney are used to facilitate a transaction when a party is unable to sign the closing documents in person. The purpose of a power of attorney is to give authority to another person, the “agent” or “attorney in fact,” to act on behalf of the person granting the power of attorney, the “principal.” In Florida, Sec. 709.2105(1), F.S., provides that the agent may be “a natural person who is 18 years of age or older or a financial institution that has trust powers, has a place of business in this state, and is authorized to conduct trust business in this state.” Chapter 4 of the Fund Title Notes discusses powers of attorney in detail. The purpose of this article is to provide Fund Members with the key points of powers of attorney and how they are used in real estate transactions.

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    09/01/2024

  • 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

  • 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

  • The New Florida “My Safe Condominium Pilot Program”

    During the 2024 session, the Florida Legislature passed House Bill 1029 (HB 1029), establishing an important pilot program for hurricane mitigation designed to help protect condominiums in Florida. The bill was approved by the Governor and assigned Session Law 2024-108, effective July 1, 2024. This article will highlight the significant provisions of the new law. 

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    08/01/2024

  • Saying Thank You & Goodbye

    By: Rene Rutan, Manager, Events &  Affiliate, REC & Realtor® Relations

    Florida ARECs Recognizes Patricia Nugent

    On May 4th, I had the honor of presenting an award on behalf of Florida ARECs to Fund Member Pat Nugent.  It’s been over ten years since former Fund CEO Jimmy Jones, Fund General Counsel Melissa Murphy and I worked closely with Pat and others to design the statewide umbrella organization to support the real estate councils.

    07/03/2024

  • Latest REC & Realtor® News - July & August 2024

    RECs Host Realtor® Roundtables

    In late Spring the Attorneys’ Real Estate Council of Palm Beach County and Broward Attorneys’ Real Estate Council hosted Real Estate Round Tables for members of RWorld, the Realtors® of Broward, Palm Beach & St. Lucie.  The events featured ten tables, each focused on a unique topic and hosted by one or two real estate attorneys.  Multiple rounds lasting twenty minutes provided agents the opportunity to sit with an experienced attorney and discuss the issues they cared most about.

    07/03/2024

  • Latest REC News - July & August 2024

    The Jacksonville Area Real Estate Council organized a road trip in April to the Wildlight development in Nassau County, along with real estate agents seeking their Wildlight Certified Realtor® designation.  REC Members enjoyed lunch and networking with Realtors®, the developer and approved builders at Rayonier’s headquarters.  They heard a presentation on the neighborhoods and amenities planned for this 24,000-acre development along the St. Mary’s River separating Florida and Georgia.  Attendees were able to grab a pint at Mocama Brewing, the onsite craft brewery and then take a trolly ride through the development.

    07/03/2024

  • Resource Feature - New Programs Added to Realtor® Education Library

    The Florida ARECs Realtor® Education Library Guide has been updated to include a number of new 
    programs, including:

    07/03/2024

  • From Oaths to Pixels: Navigating Remote Online Notarization in Florida

    As Florida has embraced technological advancements in the notarial process by allowing online notary publics to perform remote online notarization (RON), certain scenarios recur for Fund Members, leading to questions about Fund Underwriting approval requirements. The most frequent questions posed by Fund Members involve the requirements for Fund Underwriting RON approval when the signer is a foreign national. These situations require additional analysis as opposed to scenarios where the signer is a United States citizen. 

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    07/01/2024

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