INDUSTRY NEWS    

Guest Writer David Eisenberg, CIO, First International Title 

Equifax has settled with the US Federal Trade Commission over its 2017 data breach which affected 147 million Americans. This includes as much as $425 million for individual compensation. You could qualify for some form of compensation as a result of this settlement.

The Equifax Data Breach Settlement website has a look-up tool where you can find out whether your data was compromised and then file a claim online. If you have been compromised, you can sign up for TEN YEARS of free credit monitoring (4 years of three-bureau plus 6 years of one-bureau) or up to $125 (if you can submit documents proving loss).

Check your eligibility here: https://eligibility.equifaxbreachsettlement.com

If you don't do anything, you relinquish your right to sue Equifax in the future and you give up on the $125 or 10 years of free credit monitoring provided by the settlement. Your deadline to opt out is November 19 and your deadline to file a claim based on this settlement is January 22.

If the Equifax Settlement eligibility look-up tool reveals that you have been a victim of their breach then can you get credit monitoring for free or $125. If you prefer $125 you would need to provide sufficient documentation proving financial loss due to the breach and upload that documentation onto the website. Even if you have proof (IRS documentation, etc.), ten years of credit monitoring is worth much more than $125. In my opinion, the only reason to take the money is if you had significant loss due to identify theft and can prove it was caused by the Equifax breach, and you intend to sue for that loss. Or, if you can provide documentation and you already have credit monitoring elsewhere, then take the cash.

“Credit monitoring” is often not what you might think it is… it’s not a “lock” or “freeze” but rather a way of getting alerted when changes are made to your credit in one of the three major reporting agencies… which is still a good thing. On the other hand, Locks and Freezes prevent  your credit report from reaching someone who orders it, such as when you decide to get a new car or open a new credit card. It may be burdensome to un-Lock or un-Freeze your account when you need to but often the benefits outweigh the inconvenience, knowing no one can access your credit data without your intervention. Deciding which one is right for you is something you’ll need to think about but, at a minimum, I always suggest signing up for credit monitoring even if it’s a few bucks per year.

Remember, the law also entitles you to 1 free credit report every 12 months. Whether or not you sign up for anything you should absolutely take advantage of this for yourself, and all your family members, once a year to review the information for accuracy. It’s free, it’s the law, and only ONE website is legitimate: https://www.annualcreditreport.com.

Keynote Speaker, Hernando de Soto Announced

FLTA is excited to announce this year's convention keynote speaker - a not to miss!

Hernando de Soto is currently president of the “Instituto Libertad y Democracia”, based in Lima, Peru, considered by The Economist one of the two most important think tanks in the world. The Time magazine chose him as one of the five leading Latin American innovators of the century in its special May 1999 issue "Leaders for the New Millennium" and included him among the 100 most influential people in the world in 2004.

In the early 1990s, he led the effort to insert Peru into the global economy; and with his team ILD (Instituto Libertad y Democracia) wrote and promoted more than 187 laws that gave the poorest Peruvians access to economic opportunities, including titles to their properties and businesses. He also created the National Office of Ombudsman to defend the constitutional and human rights of the Peruvian people.

Don't miss your opportunity to hear Mr. de Soto!

Register Today - Price Increase Sept. 1

Keynote Sponsors:

   

Keynote Speaker, Hernando de Soto Announced

FLTA is excited to announce this year's convention keynote speaker - a not to miss!

Hernando de Soto is currently president of the “Instituto Libertad y Democracia”, based in Lima, Peru, considered by The Economist one of the two most important think tanks in the world. The Time magazine chose him as one of the five leading Latin American innovators of the century in its special May 1999 issue "Leaders for the New Millennium" and included him among the 100 most influential people in the world in 2004.

In the early 1990s, he led the effort to insert Peru into the global economy; and with his team ILD (Instituto Libertad y Democracia) wrote and promoted more than 187 laws that gave the poorest Peruvians access to economic opportunities, including titles to their properties and businesses. He also created the National Office of Ombudsman to defend the constitutional and human rights of the Peruvian people.

Don't miss your opportunity to hear Mr. de Soto!

Register Today - Price Increase Sept. 1

Keynote Sponsors:

   

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Unlawful Inducement Town Hall in Pensacola with Networking Reception

Last week, more than 100 attendees had the opportunity to ask questions in Orlando. In September will be coming to Pensacola. Don't miss your opportunity to ask questions and network!

Due to Space, Please Register in Advance

Attendees will have a better understanding of:

• Rule 69B-186.010 - Unlawful Inducements Related to Title Insurance Transactions
• • Understanding the Rules Purpose
• Activities Constituting and Not Constituting Unlawful Inducements
• • Clearer understanding of a Rebate and/or an Inducement
  • Promotional, Advertising, and Marketing Activities
• Areas Where Title Agents are Not Prohibited from Affixing Notice to Contracts
• Your questions

Registration

September 12

1-3 p.m. Town Hall

Networking Reception Immediately Following

Pensacola Country Club

1500 Bayshore Dr., Pensacola, FL 32507

Open to members and non-members.

Reception Sponsored by

     

Photo credit: Southern Title

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FLTA Cyber Road Show

4 Speakers + 3 Days + 3 Cities

New - 4 DFS CE Credits Approved

CLE Applied For

Sponsored by

  

Presenters

Frank Laisch, Ample Insurance

Avoiding Cyber Exposure in Real Estate

Stewart Holley, Vialok

Intro to Cyber Fraud for Title Agents

David Eisenberg, First International Title

How to Create Real World Security Policies

Matthew Froning, Safe LLC

Understanding Cyber Regulatory Compliance &

the Components of a Good Cybersecurity Program 

This September members will have the opportunity to hear from experienced professionals and consultants covering cyber exposure, basics to cyber fraud, overview on building a cyber policy and understand cyber regulatory compliance.

When it comes to cyber security you don't want to be left behind. Space is limited, register today!

Select your city and register today:

Tampa 9/17

North Orlando 9/18

Ft. Lauderdale 9/19

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Office of Insurance Regulation to Host Agent Data Call Workshop

The Office of Insurance Regulation has officially announceda workshop for Thursday, August 22nd in the Larson Building, Tallahassee, on the Agent Data Call.

The Office initiated a data call in 2014 regarding the collection of data for the adoption of title insurance rates pursuant to Sections 624.307 and 627.782, FS, and Chapter 69O-186.013-14, FAC. The purpose of this workshop is to review suggested amendments from both the Office and interested parties as the Office considers amending Rules 69O-186.013 and 69O-186.014, FAC.

This workshop will be the continuation of ongoing improvements with additional rule making hearings to follow. 

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2020 FLTA Committee Registration

Have you considered becoming more involved in your association? The time is now. We are only stronger with your input and involvement. Committee sign-up open through August 30^th.

Note: Registering is not a guarantee of committee seat. Committee Members are approved by the Board with limited availability.

2020 FLTA Committees (log-in required):

1. Claims Prevention, Avoidance and Education Committee
2. Cyber Security Committee
3. Education Committee
4. Forms Committee
5. Government Affairs
6. Membership Committee

Above committees are open to FLTA members. Registration open through August 30. Maximum of 3 committees per registrant.

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Register for Upcoming Events

DFS Unlawful Inducement Town Hall(s)

• 9/12/19 Pensacola/Panhandle

Cyber Road Show

• 9/17/19 Tampa, FL 
• 9/18/19 Orlando/Lake Mary, FL
• 9/19/19 Ft. Lauderdale/Plantation, FL

Annual Convention

Registration Open - November 11-13, 2019, St. Petersburg, Florida

Department of Financial Services Adds Real Estate and Builder Open House Compliance

The Department of Financial Services has added a compliance tab and statement for Real Estate and Builder Open Houses on their Title Insurance Agent Compliance page.

Compliance Statement:

Our Department receives a high volume of questions from the title insurance industry. Unfortunately, these questions do not always use consistent terminology making it difficult to determine the true situation and resulting question. It is very important when we communicate with each other that we know what the other is talking about so we can assist the other. Sometimes taking time to describe the term or situation you have a question about will assist the Department with answering your question. This is particularly true when it comes to compliance questions. An example of the areas in which we often get ambiguous questions are real estate open houses. With this situation in mind, here is some guidance that we will try to keep as simple but still provide helpful guidance.

Read full statement.

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Pinellas County Property Appraiser Issues Statement Following New Redaction Law

It is recommended to identify early on whether you’re dealing with a property owner that has a protected address and, therefore, is exempt from public records disclosure. Knowing early on and taking the appropriate steps will ensure that your/their transaction, appraisal or project is not delayed.

Effective July 1st, 2019, an amendment to Section 119.071 Florida Statues – Public Records expands information exempted from public record by further defining the term “home address”. Real estate, legal, title, lending, appraisal, construction professionals and others should be aware of how this law change will impact their business.

Read more.

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FLTA Cyber Road Show Launched

4 Speakers + 3 Days + 3 Cities

Reserve your seat today. Sponsored by Flag Insurance Services and Qualia, FLTA is launching it's first road show. This September members will have the opportunity to hear from experienced professionals and consultants covering cyber exposure, basics to cyber fraud, overview on building a cyber policy and understand cyber regulatory compliance.

When it comes to cyber security you don't want to be left behind. Space is limited, register today!

Select your city and register today:

Tampa 9/17

North Orlando 9/18

Ft. Lauderdale 9/19

Exhibitor and sponsorship opportunities available.

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Ygrene Presents PACE and Responds to Questions

In June, FLTA members and future members attended a presentation by Ygrene to better understand Property Assessed Clean Energy (PACE). During the presentation members raised  questions in which the Ygrene team has now implemented. Specifically, prior to the meeting the pay off quote would include the payoff amount, but did not include the next year's assessed amount causing agents to withhold an uncertain amount for final payment.

As a result, Ygrene's payoff quote now includes the next year's taxed amount (assessment) giving a complete payoff. 

FLTA would like to thank Ygrene for presenting and collaborating to make these swift adjustments.

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Report all cyber fraud attempts to ic3.

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2 Ways to Report Unlawful Inducements

See something, say something. 

FLTA has worked hard in offering feedback over the years to help amend the Unlawful Inducement and Rebate Rule and now, as an added value, representatives may submit anonymously by emailing Anonymous@FLTA.org. Through this process FLTA will remove your information and  forward your complaint directly to DFS for their consideration.

When submitting through normal channels or anonymously it is vitally important to:

• include as much information as possible;
• include specific details of events
• include photos, documents, flyers, etc.

Furthermore, when submitting a complaint anonymously it is also important to understand you will not receive status updates of the progress being made in your case. Of course, you may still request to be anonymous when submitting directly to DFS. Ways to submit a complaint:

Submit to FLTA Anonymously:

• Anonymous@FLTA.org

Submit directly to DFS:

• Title@MyFloridaCFO.com

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Register for Upcoming Events

DFS Unlawful Inducement Town Hall(s)

• 8/8/19 Maitland, FL (SOLD OUT)
• 9/12/19 Pensacola/Panama City Area  -  Save the Date

Cyber Road Show

• 9/17/19 Tampa, FL 
• 9/18/19 Orlando/Lake Mary, FL
• 9/19/19 Ft. Lauderdale/Plantation, FL

Annual Convention

Registration Open - November 11-13, 2019, St. Petersburg, Florida

For more information view DFS Compliance Information: Title Insurance Agents Page.

Real Estate and Builder Open Houses

Our Department receives a high volume of questions from the title insurance industry. Unfortunately, these questions do not always use consistent terminology making it difficult to determine the true situation and resulting question. It is very important when we communicate with each other that we know what the other is talking about so we can assist the other. Sometimes taking time to describe the term or situation you have a question about will assist the Department with answering your question. This is particularly true when it comes to compliance questions. An example of the areas in which we often get ambiguous questions are real estate open houses. With this situation in mind, here is some guidance that we will try to keep as simple but still provide helpful guidance.

A title agent/agency may market its services to anyone, including real estate agents/brokers and lenders who will be a significant source of new business. The key is that the title agent/agency must market itself and not the broker, lender, or anyone else.

There are multiple types of open houses:

REALTOR:

• Brokers Open/Brokers Open House: When a real estate broker shows homes they have listed to their realtors or other realtors. Realtor caravans would be an example. (non-public)
• Open House: When a Realtor holds an open house for a home which they have listed to promote the home for sale to consumers. (public)

BUILDER:

• Builders Model Homes: Open House/Parade of Homes Event: When a builder hosts an event in a model home to promote the home to Realtors and/or consumers.

A Brokers Open, Brokers Open House, and certain Builders events are times when a title agency should be extra cautious of violating the Florida Insurance Code and RESPA. No members of the general public, no sellers, and no buyers are in attendance. A byproduct of this meeting will be the discussions the brokers have with each other where they let each other know about the inventory each one has available for sale. The thinking is that one of the other brokers may have a buyer that will be more receptive to paying the full asking price.

An Open House to the public is different than those detailed above because this is an opportunity for the title agent/agency to take full advantage of their audience to explain what they do and why they are better at doing it than any other title agent/agency.

Regardless of the event type, the title agency may only advertise its own services and not perform any of the duties or functions of the broker selling the home. The title agency may have food and beverages, but that must be accompanied by materials showing what the title agency does and can do for the consumer. A title agency may NOT just drop off food or solely provide food/beverages for these events. A title agency MUST attend the event and promote its agency during the event. The title agency cannot describe the home, give tours to people visiting the home, distribute flyers about the home, "man the event" without a Realtor or builder sales associate present, promote any broker listings, etc., as these are duties and functions of the real estate broker, Realtor or builder sales associate.

Marketing these open houses and others' events by the title agent/agency are prohibited. Licensees and persons subject to the Florida Insurance Code should refamiliarize themselves with it for compliance. Specifically, Rule 69B-186.010, F.A.C., regarding guidance in this area should be reviewed prior to any title agent/agency considering promoting open houses on their Facebook or other social media or other types of solicitation at the title agency's own time, resources and expenses, no matter how quick and inexpensive.

Any licensee of the Department of Financial Services found to have conducted these acts is subject to discipline for violation of the Florida Insurance Code. Any other person will be referred to the appropriate state or federal agency/board, etc.

Violations by the title insurance industry can be reported toTitle@MyFloridaCFO.com. Please email or forward as much information as you can. Please note that this guidance is not all-inclusive and any person subject to the Florida Insurance Code and/or RESPA should seek legal advice or contact their association prior to proceeding with any regulated activity.

[See Section 626.9541, F.S. and Rule 69B-186.010, F.A.C.]

 For more information view DFS Compliance Information: Title Insurance Agents Page.  

 

Back to Industry News 

 

Clearwater, FL

It is recommended to identify early on whether you’re dealing with a property owner that has a protected address and, therefore, is exempt from public records disclosure. Knowing early on and taking the appropriate steps will ensure that your/their transaction, appraisal or project is not delayed.

Effective July 1st, 2019, an amendment to Section 119.071 Florida Statues – Public Records expands information exempted from public record by further defining the term “home address”. Real estate, legal, title, lending, appraisal, construction professionals and others should be aware of how this law change will impact their business.

The defined term “home address” has been expanded to include the physical and mailing address, parcel ID number, neighborhood name and lot number, legal property description, GPS coordinates, and any other descriptive property information that could lead to the home address being revealed. As a result, the entire parcel will no longer be accessible/viewable on our website, even if you already have the parcel ID number. In addition, no exempt parcel information can be released over the phone.

As a result, transaction, valuation and construction processes that you undertake in your daily business may be delayed unless you address some of the information gathering early in the process. Beginning July 1, 2019, the protected person must submit a notarized, written request which specifies the information to be released, the party who is authorized to receive the information and its method of delivery. By law, this is the only way for us to release any exempted information related to parcels exempt from public record.

To assist in this process, we have created an Authorization for Release of Information Currently Exempted from Public Records form which is available in our office or for download online at https://www.pcpao.org/ under our Forms section. Upon receipt and verification of the notarized form, the specified information will be released only to the authorized party.

The new law, reflecting all changes, may be viewed at: http://laws.flrules.org/2019/12. This notice is provided as a courtesy. To review Florida statutes or track future legislative changes that may impact you, please visit https://www.flsenate.gov or https://www.myfloridahouse.gov.

If you would like more information about this topic, please contact the Pinellas County Property Appraiser’s Office at (727) 464-3207, or email mike@pcpao.org. 

Remote Online Notary Signed by Florida Governor

Last week was a big week for FLTA legislative priorities where on Friday, Governor DeSantis signed into law HB 409 authorizing the use of remote online notarization by Florida notaries. The law will go into effect on January 1, 2020. FLTA will now be shifting gears to focus on rule making and an education program for certification.

As an FLTA priority, FLTA would like to thank Governor DeSantis, Senator Brandes, Representatives Perez and Grant, and leadership for their continued support in this legislation.

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ALTA Names New CEO, Diane Tomb

ALTA announced it has named Diane Tomb as its new chief executive officer, effective July 1.

Tomb, who has over 20 years of experience in the housing field, will leverage her deep advocacy and public policy expertise on behalf of ALTA and its members. 

"Diane is a recognized leader who understands the intersection of politics and business and the importance of informed public policy advocacy. She is the right person to lead ALTA and build on its successful legacy,” said Cynthia Durham Blair NTP, ALTA’s president. "Diane was a unanimous selection by the Board, and we expect her leadership and entrepreneurial spirit will immediately benefit our members, demonstrate our value to prospective members and continue ALTA’s tradition of strong advocacy on behalf of the land title insurance and settlement services industry."

Read full press release.

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FLTA Launches Cyber Awareness Video - Talk with Your Real Estate Professional

As cyber fraud, wire fraud, and email spoofing continues to rise, FLTA has assembled a video highlighting the importance of talking with your real estate professional.

Industry professionals are encouraged to share this video on your own social platforms to promote the importance of verifying communications over the phone. 

This issue is larger than any one company and we need to educate together.

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Title Industry of Florida PAC Sets Goal

The Title Industry of Florida Political Action Committee (TIFPAC) has set a goal of raising $100,000 for the 2020 campaign cycle. TIFPAC is an extension of the Florida Land Title Association focused on working with current and future legislators on protecting the integrity of public records, the consumer and the title industry.

Support TIFPAC today!

Supporting TIFPAC is supporting your business; stronger together.

Contributions are not tax-deductible for business expenses and can be made online. Individual and corporate contributions accepted at all levels. Sponsored by Title Industry of Florida PAC.

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Save the Date

November 11-13, 2019

St. Petersburg, Florida

Registration Opens Soon!

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2 Ways to Report Unlawful Inducements

See something, say something. 

FLTA has worked hard in offering feedback over the years to help amend the Unlawful Inducement and Rebate Rule and now, as an added value, representatives may submit anonymously by emailing Anonymous@FLTA.org. Through this process FLTA will remove your information and  forward your complaint directly to DFS for their consideration.

When submitting through normal channels or anonymously it is vitally important to:

• include as much information as possible;
• include specific details of events
• include photos, documents, flyers, etc.

Furthermore, when submitting a complaint anonymously it is also important to understand you will not receive status updates of the progress being made in your case. Of course, you may still request to be anonymous when submitting directly to DFS. Ways to submit a complaint:

Submit to FLTA Anonymously:

• Anonymous@FLTA.org

Submit directly to DFS:

• Title@MyFloridaCFO.com

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CORRECTION - Florida Eliminates Doc Stamps for Intra-Spousal Transfers

The strike-through identifying the removal of the one (1) year was not included last month.

Last month, Gov. DeSantis signed into law a broad-base relief tax package that includes language spearheaded by Past President Skip Straus removing the intra-spousal tax. This has been a long standing initiative of FLTA and the association would like to thank the leadership of Rep. Yarborough (R-Jacksonville) and Sen. Stargel (R-Lakeland) for leadership in removing this burden. In HB 7123, Section 4 reads:

Section 4. Effective July 1, 2019, paragraph (b) of

subsection (7) of section 201.02, Florida Statutes, is amended to read:

201.02 Tax on deeds and other instruments relating to real

property or interests in real property.—

(7) Taxes imposed by this section do not apply to:

(b) A deed or other instrument that transfers or conveys

homestead property or any interest in homestead property between spouses, if the only consideration for the transfer or conveyance is the amount of a mortgage or other lien encumbering the homestead property at the time of the transfer or conveyance and if the deed or other instrument is recorded within 1 year after the date of the marriage. This paragraph applies to transfers or conveyances from one spouse to another, from one spouse to both spouses, or from both spouses to one spouse. For the purpose of this paragraph, the term "homestead property" has the same meaning as the term "homestead" as defined in s.192.001.

Read the full Senate Press Release outlining the tax relief package.

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Register for Upcoming Events

Lunch and Learn

June 13 - PACE in West Palm Beach with Ygrene (SOLD OUT)

Annual Convention

Save the Date - November 11-13, 2019

St. Petersburg, Florida

As cyber fraud, wire fraud, and email spoofing continues to rise, FLTA has assembled a video highlighting the importance of talking with your real estate professional.

Industry professionals are encouraged to share this video on your own social platforms to promote the importance of verifying communications over the phone. 

This issue is larger than any one company and we need to educate together.

  

Last week was a big week for FLTA legislative priorities where on Friday Governor DeSantis signed into law HB 409 authorizing the use of remote online notarization by Florida notaries. The law will go into effect on January 1, 2020. FLTA will now be shifting gears to focus on rule making and an education program for certification.

As an FLTA priority, FLTA would like to thank Governor DeSantis, Senator Brandes, Representatives Perez and Grant, and leadership for their continued support in this legislation.

  

ALTA announced it has named Diane Tomb as its new chief executive officer, effective July 1.

Tomb, who has over 20 years of experience in the housing field, will leverage her deep advocacy and public policy expertise on behalf of ALTA and its members. 

"Diane is a recognized leader who understands the intersection of politics and business and the importance of informed public policy advocacy. She is the right person to lead ALTA and build on its successful legacy,” said Cynthia Durham Blair NTP, ALTA’s president. "Diane was a unanimous selection by the Board, and we expect her leadership and entrepreneurial spirit will immediately benefit our members, demonstrate our value to prospective members and continue ALTA’s tradition of strong advocacy on behalf of the land title insurance and settlement services industry."

Tomb previously served as the executive director of the National Rental Home Council. She also served as president and CEO of the National Association of Women Business Owners. Previously, she served as Assistant Secretary of Public Affairs at the Department of Housing and Urban Development during the George W. Bush administration. In 2003, Tomb founded D.C.-based public affairs and business advisory firm Tomb & Associates LLC. In addition, Tomb was a senior executive at the Fannie Mae Foundation and worked in the White House under Presidents Ronald Reagan and George H.W. Bush.

In 2017, Tomb was named one of HousingWire’s Women of Influence, a recognition awarded to the most influential women in the housing industry. She currently serves as a commissioner on the Bipartisan Policy Center’s Commission on Political Reform and on the Board of Visitors at the Fund for American Studies. Tomb is also a member of the International Women’s Forum of Washington, D.C.

“I am honored to join ALTA and look forward to leading this organization and working with the ALTA team to build upon the great success it has achieved to date,” Tomb said. “I’m also excited to work with ALTA members and all stakeholders across the title, settlement, mortgage and real estate industries to ensure we continue to protect property rights and deliver an exceptional closing experience for consumers.”

Tomb earned a Bachelor of Arts degree in political science from Mount St. Mary’s University in Emmitsburg, Md. Born and raised in Philadelphia, she now lives in Virginia with her husband and three children.