Silver Linings, Important Updates & Great Resources

Dear Members,

Even in these trying times, there are some silver linings:

• Improved technology skills:  I now know how to use Teams, Zoom and GoToWebinar.
• My daughter can add "helping mom with root color touch-up" to her list of skills.
• My Fund colleagues (includes all of you!) are the best people in the world!  You really know how to work together in a crisis.  We can do this!

What would be helpful to share with you this week?  Here is my menu of weekly tidbits:

"Safe Closings."  Many of you have come up with creative ways to minimize personal contact at closings:  holding closings in your breezeway, driveways and other outdoor areas (shade required!); installing a plexiglass divider for the conference room table to create some level of barrier between people; holding "drive-up" closings where the client stays in their car and the closing agent (properly garbed in protective gear) hands a clipboard with paperwork and pen to the signer; using brand new pens for every closings and sanitizing the furniture between sessions……the list goes on.  THANK YOU FOR MAKING YOUR CUSTOMERS FEEL SAFE, SECURE AND SUPPORTED!

RON UPDATE. 

• We have received numerous questions from Members looking for RON support for a loan closing.  Before we send you down perhaps a winding road, PLEASE CHECK WITH YOUR LENDER FIRST and confirm they will accept electronically signed documents.  It is likely they will not……at best, they will only require the note and mortgage be wet-signed.  But this is an important first question to ask to avoid trying to solve a problem that can't be solved with RON.
• Remember: you do NOT have to be an online notary to facilitate a RON closing.  There are RON service providers that will supply the online notary to work with you.  Old Republic has a signing service that will connect you with an online notary that uses the Pavaso RON platform.  It's called ORSigningPro and here is a link to their website. www.ORsigningpro.com HERE'S MY POINT:  don't turn a closing away because you are not an online notary.  There are ways you can still handle the transaction.

FLORIDA GOVERNOR EXECUTIVE ORDERS.  I am sure you are aware of the statewide Safer at Home EO entered by Governor DeSantis.  He has also issued an EO suspending foreclosures and residential evictions for 45 days.  Here are links to both (and a quick amendment to the Safer at Home EO). 

• Safer at Home - https://www.thefund.com/TheFund/media/PDFs/Florida-Governore-EO-20-91.pdf
• Amendment -  https://www.thefund.com/TheFund/media/PDFs/Florida-Governor-EO-20-92.pdf
• 45 Day Suspension - https://www.thefund.com/TheFund/media/PDFs/Florida-Governor-EO-20-94-45-day-suspension.pdf

DATA CALL UPDATE.  This is only for licensed title agencies (not law firms).  There is no extension of the reporting deadline for your 2019 data…..yet.  The DoubleTime release that tweaks the software to provide you with the information you need for the revised worksheet is coming out now (DT 8.5).  Look for it and install it right away.  It also contains updates to the Closing Protection Letter. 

DOUBLETIME RELEASE 8.5.  If you are a DoubleTime user, you will get notice of DT 8.5 very soon.  Please install it right away.  It contains updates to the Closing Protection Letter and, for licensed title agents, updates to comply with the revised Data Call Worksheet.

ALTA ROCKS!.  I have to sing the praises of the American Land Title Association!  They have incredible resources for agents.  I often reach out to my ALTA colleagues to provide reliable information.  Visit their resource page on COVID-19 at www.alta.org/coronavirus.   It covers a wide range of topics with lots and lots of links.  Seriously.  Take a look.

UNDERWRITING STUFF - HOA AND CONDO ISSUES.  In addition to the difficulty Fund Members have reported with municipal lien searches, we are also hearing that some of you are experiencing trouble with obtaining condominium and association estoppel information.  For refinance transactions only, Fund Members are authorized within their monetary policy limitations to insure without condominium and HOA association estoppel.  Similar challenges may occur with obtaining payoff information for a recorded association lien, and when seeking an association’s approval of a purchaser or waiver of right of first refusal.  When you encounter difficulty with association estoppel in sales transactions, association approval or waiver of right of first refusal, contact Fund underwriting counsel for guidance. 

HELP WITH WIRE FRAUD.  Here is information on an offer from CertifID.  They are offering all Old Republic Title agents free use of its wire fraud prevention platform for 30 days (actually not sure when this offer expires……maybe at the end of April).  Using their service, they will provide identity verification of the person receiving a wire, secure exchange and confirmation of wiring instructions and a limited guarantee with up to $1,000,000 coverage per wire.  To learn more about this program, send email to sales@certifid.com or visit https://certifid.com/get-started/.   We are just passing this along so be sure to fully investigate on your own.

SHARE PROBLEMS AND SOLUTIONS WITH FELLOW FUND MEMBERS.   Register to be a member of the "Slachter Real Estate Forum," a group of Fund Members across the state.  It's a simple list-serve where you can post questions, comments and information that are shared with all of the Forum members.  You will get feedback and responses quickly.  It is like having the "partner down the hall" that many of you don't have.  And in this day and time, sharing concerns and possible solutions is something we all need!  Sign up today!  It's free if you are a Fund Member.  You have to send David Slachter your full contact information AND your Fund Member number.  Just email him at david@slachterconsulting.com.

That's all for now.  Stay safe.  Let me know how we can help you.

Executive Vice President, Chief Legal Officer,
General Counsel and Secretary