Gov't Affairs Blog

OLD Gov't Affairs Blog
We stopped using this blog after the 2013 Florida Legislative Session and created a new Government Affairs Forum, which will allow us to better control distribution of information.  This one will be maintained as an archive. 

More formal bulletins, summaries of legislation, position papers and the like appear on the Government Affairs page



  • 06/28/2012 9:11 AM | Anonymous
    Senate Majority Leader Harry Reid, D-Nev., has threatened to block a vote on a bill to reauthorize the National Flood Insurance Program (NFIP) if it contains an amendment submitted by Sen. Rand Paul, R-Ky., that states life begins at conception.

  • 06/25/2012 2:47 PM | Anonymous
    We have the dubious distinction, for the fourth time in the last five quarters, of ranking number 1 for First-Quarter 2012 Mortgage Fraud Index from MortgageDaily.com.   Perhaps the most troubling detail is that the estimated dollar amount of fraud doubled from the previous quarter. 

    More here.  

    While some of this still relates to past frauds still being uncovered, new frauds and types of frauds continue to be reported.   So be careful out there!

  • 06/23/2012 1:37 PM | Anonymous

    A bill that could land mortgage servicers in prison for foreclosure fraud in New York passed the state Assembly Thursday.

    An identical version of the bill is still sitting in a New York State Senate committee.  As some of you will recall a similar bill was introduced by Rep. John Wood (R-Winter Haven) last session.  That bill passed the house, but ran out of time in the Senate.  


  • 06/18/2012 11:32 AM | Anonymous
    Our friends at ALTA put up the "good fight" to protect our interests in Washington, but their ability to keep our issues moving forward often depend  on the general political climate and the issues that "Absolutely Must" be addressed -- because those tend to crowd the more mundane issues of keeping the real estate economy on track.

    I found the attached article from the Washington Post to provide an interesting guide to some of the hot button issues that must be resolved before the election.  


    Hope you enjoy!
  • 06/17/2012 9:20 AM | Anonymous
    Through the courtesy of Vicki DiPasquale of SimpliFile, we have posted a map showing the availability of E-Recording in various Florida Counties.   Here's a link to the Map, which also appears in the FLTA "Members Only" Search and Exam Resources.

    If your office is not already using E-Recording, we urge you to take another look at it.   Not only can it save time and money, it dramatically reduces the "Gap" and the risk of several types of fraud.


  • 06/16/2012 11:08 PM | Anonymous
    On Friday afternoon (6/15/12), FHFA released proposed rules (again) restricting Fannie & Freddie from holding mortgages on properties encumbered by Property Assessed Clean Energy (PACE) loans.   PACE loans have been authorized in Florida for several years and recently over $2 Billion of PACE bonds were approved. 

    Here are the key provisions of the proposed rule:  

    (a) The Enterprises [Fannie/Freddie] shall immediately take such as actions as are necessary to secure and/or preserve their right to make immediately due the full amount of any obligation secured by a mortgage that becomes, without the consent of the mortgage holder, subject to a first-lien PACE obligation. Such actions may include, to the extent necessary, interpreting or amending the Enterprises’ Uniform Security Instruments.

    (b) The Enterprises shall not purchase any mortgage that is subject to a first lien PACE obligation.

    (c) The Enterprises shall not consent to the imposition of a first-lien PACE obligation on any mortgage.

    The entire Federal Register report can be found here

  • 06/16/2012 9:40 PM | Anonymous
    Yesterday, Delton de Armas, a former chief financial officer (CFO) of Taylor, Bean & Whitaker Mortgage Corp. (TBW), was sentenced today to 60 months in prison for his role in a more than $2.9 billion fraud scheme that contributed to the failure of TBW.

  • 06/10/2012 1:22 PM | Anonymous
    The Federal Housing Administration will sell 5,000 mortgages in the foreclosure process every quarter beginning in September to give borrowers more options to stay in their homes than government programs currently allow.

    The inventory of repossessed homes held by the Department of Housing and Urban Development reached a three-year low because of servicing and foreclosure delays. But the more than 707,000 severely delinquent FHA-backed mortgages hovered around a record high since the start of the year.

    How will your company capitalize on this opportunity?

  • 06/01/2012 2:47 PM | Anonymous
    Yesterday afternoon, President Obama signed a 60 day extension of the National Flood Insurance Program. ALTA, FLTA, and NAR will continue to push for a longer term extension of this program The extension (ON THE LAST DAY) avoided a lapse in the program
  • 05/29/2012 7:45 PM | Anonymous
    Today, Aaron Davis, FLTA's Zone 4 Vice President was featured on Fox News Tampa Bay discussing the May 31 expiration of the National Flood Insurance Program and FLTA and ALTA's efforts to have the program extended. 

    Here's a link to the Story

    As some of you are aware, both FLTA and ALTA have been monitoring this issue closely.   The National Flood Insurance Program (NFIP) has lapsed eleven times since Sept. 30, 2008.  (12 counting this week)   Each lapse has delayed thousands of closings and caused considerable uncertainty for buyers, sellers and lenders. These disruptions cost title and escrow businesses’, lenders’, and consumers’ time, money and unnecessary worry.

    What is less widely known, is that earlier this month, FLTA sent a delegation of 10 of our members to Washington DC to join the ALTA team in visiting legislators to express our concern that the NFIP might lapse again.  

    We expect another short-term extension of the program.  Months ago, the House of Representatives passed a five year extension of the NFIP by a bi-partisan majority; the Senate declined to vote on the long term extension.  Two weeks ago, seeing no action on the Senate side and knowing the deadline was fast approaching, the House approved a 30 day extension of the program.   Last week, the Senate approved a 60 day extension.   

    We are in a position where the bills from both sides must be reconciled, voted on and sent to the President for signature.   We are cautiously optimistic that this will be completed before May 31 so that there is not another lapse in the program.

    Our thanks to Aaron for carrying this important message (albeit in a highly edited form) to the public. 


     


 
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