Dear CATIC Agents,

It is with sincere appreciation that we announce that Jayne Benoit will be retiring from CATIC/VATC on July 1, 2024, after 14 years of dedicated service. Jayne has been an integral part of our Vermont team and many of your teams as well. Her impressive career as a paralegal spans over 30 years, beginning with private practices in Chittenden County before joining VATC in 2010.

Jayne’s longevity, dedication, and commitment to the legal field have left a lasting impact. She brought a positive presence, tenacity, and extensive experience to her work every day. There was no task too challenging for Jayne; she tackled everything with enthusiasm and unparalleled customer service.

Jayne is truly one of a kind, and her absence will be felt by all of us. Please join us in congratulating Jayne for her remarkable career and wish her well in this new chapter of life. Have fun Jayne!

We invite you to share your memories, express well wishes, and bid farewell to our outstanding colleague at our June 11, 2024 CLE where there will be cards available to write in and give to Jayne.

Last Call for CLE "Annual June CLE" - June 11, 2024

Please join us for a continental breakfast, lunch and a fun day of CLE at the Capitol Plaza in Montpelier. While the topics are TBD, the day will consist of 6 hours of CLE (including 1 hour of ethics) for attorneys licensed in the State of Vermont.

Important notes:

• Fee: $50 per attendee and will be non-refundable after May 11th.
• This seminar will not be streamed or recorded.

FBI Reports Cybercrime Losses Hit $12.5B, Record Number of Complaints Filed in 2023

Cybercrime losses rose to $12.5 billion and reported incidents reached all-time highs last year, according to the 2023 FBI Internet Crime Report.

In one incident involving a real estate transaction last year in Stamford, Conn., an individual was in the process of purchasing a home. The victim received a spoofed email from their supposed attorney instructing them to wire $426,000 to a financial institution to finalize the closing. Two days after the wire was initiated, it was realized the instructions came from a spoofed email. Upon notification, the IC3 Recovery Asset Team (RAT) immediately initiated the Financial Fraud Kill Chain (FFKC) process to freeze the fraudulent recipient financial bank account. Collaboration with the domestic recipient financial institution and the local police department confirmed $425,000 was frozen and returned to the individual, which enabled them to complete the real estate transaction.

Resources for Your Real Estate Toolbox

FBI Guidance for Sending Wire Transfers

• Contact the originating financial institution as soon as fraud is recognized to request a recall or reversal and a Hold Harmless Letter or Letter of Indemnity.
• File a detailed complaint with www.ic.gov. It is vital the complaint contain all required data in provided fields, including banking information.
• Never make any payment changes without verifying the change with the intended recipient; verify email addresses are accurate when checking email on a cell phone or other mobile device.

Last year, ALTA released an update to its Best Practices, which included a recommendation to use a wire verification service when sending money.

Report Incidents to IC3

Reporting incidents to the FBI’s Internet Crime Complaint Center (IC3) is important to helping law enforcement fight cybercrime. Click here to report a complaint.

ALTA Resources

• ALTA Outgoing Wire Preparation Checklist: Use this checklist as a best practice for verifying outgoing wire information.

• ALTA Rapid Response Plan for Wire Fraud Incidents: Use this tool to customize your action plan when a wire fraud attempt occurs.

Click here to read this article in its entirety.

Special Offer to CATIC Agents From Lane Guide

Find Lender Information, INSTANTLY!

With cross-references and contact information on over 160,000 lenders and mortgage companies, Lane Guide puts at your fingertips:

1. Successor information for mortgage companies and lenders that have failed or closed.
2. Merger information for acquired lenders and mortgage companies.
3. Contact numbers and addresses for Payoff Departments.
4. Servicer names and contact information for mortgages held by Trustees.

Click here to learn more about Lane Guide.

Enter the discount code CATIC25 when subscribing and get 25% off your annual subscription!

Upcoming Social Events

2nd Annual CATIC Foundation Golf Classic

Date: June 20, 2024

Time: 10am - 4pm

Location: Blackledge Country Club, Hebron, CT

Click here for additional details.

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CATIC Night at the VT Lake Monsters

Date: July 19, 2024

Time: Gates open & BBQ at 5:30pm; First pitch at 6:35pm

Join fellow CATIC agents, their staff members, and family for a BBQ and an evening under the lights as the Lake Monsters take on the New Britain Bees. We'll provide tickets to the game, BBQ dinner and $10 in ballpark spending money! Please email Katie with any questions.

Lau's Corner

Is There a Real Estate Topic You Would Like to Learn More About?

Please let us know by sending an email.

Underwriting Question? 

To streamline underwriting, please email UnderwritingVT@catic.com which will automatically go right to Liz and Steve's inbox.

Career Network 

We often hear of firms who are hiring. While we welcome phone calls or emails, we have added a career network post under News and Announcements (bottom right-hand corner) on the VATC website.