Dear Valued Agents -

Wishing you a very Happy Thanksgiving! We're so thankful for you and truly appreciate your continued partnership.

Your CATIC Family

CATIC Introduces New Vermont Conversion Endorsement for Residential Properties

CATIC is pleased to announce the filing and availability of a new Vermont Endorsement designed to provide homeowners with a simple and cost-effective way to enhance their title insurance coverage following residential property improvements.

The new Conversion Endorsement allows an existing Standard Owner’s Policy to be converted to Expanded Coverage upon completion of a qualifying 1–4 Family Residential improvement project. This endorsement helps ensure that property owners can obtain the broader protections available under Expanded Coverage after construction of a 1-4 Family Residential improvements have been completed.

In addition, the Endorsement provides the flexibility to increase the policy amount when the value of the property has increased as a result of the completed improvements. This feature allows coverage to better reflect the property's updated value and investment.

The cost of the Conversion Endorsement is $125.

To issue the endorsement, CATIC will require a title update through the date the 1–4 Family Residential improvement completion. In most cases, this will include a title search through the date of the applicable Certificate of Occupancy or Certificate of Compliance.

For questions regarding eligibility, underwriting requirements, or issuance procedures, please contact Liz Smith LSmith@catic.com or Steve Ducham SDucham@catic.com.

IRS 1099-S Filing Update: CATIC Can Help



The IRS has announced that the FIRE (Filing Information Returns Electronically) system, which has been in use since the 1980s, will be permanently discontinued on December 31, 2026.

Beginning in 2027, organizations that electronically file information returns, including Form 1099-S, must use the Information Returns Intake System (IRIS).

This transition is mandatory, and the IRS has stated there will be no parallel filing period or extensions.

Filers can transition to IRIS by:

·   Filing directly through the IRIS Taxpayer Portal;

·   Building an IRIS XML integration; or

·   Using a third-party provider to automatically convert existing FIRE-format files into IRIS XML

What You'll Need

To e-file through IRIS, filers must apply for and obtain a Transmitter Control Code (TCC)—a five-character alphanumeric code that identifies your business or entity. You will no longer be able to use the TCC that you had for the Fire system.

The TCC application is completed through the IRIS portal and requires:

·   Identity verification through ID.me and

·   Multi-factor authentication (MFA)

Once your application is approved, your TCC provides access to the IRIS Taxpayer Portal or the Application-to-Application (A2A) filing method.

Why This Matters

IRIS is a significant modernization of the IRS electronic filing process, offering improved accuracy, efficiency, and flexibility compared to the FIRE system.

Businesses and tax professionals should complete their migration before the end of 2026 to ensure continued compliance and take advantage of IRIS's enhanced capabilities.

Let CATIC Handle It for You!

This is a great opportunity to start using CATIC as your 1099-S filing service!

The process is quick and easy and takes the stress of filing off your desk.

When you file through CATIC, you do not need to obtain your own TCC— 

CATIC files under its approved TCC, simplifying the filing process for your office.

Please click here to learn more about the service.

The last day to enroll with the 1099-S Filing Service will be December 31, 2026.

Click here to sign up.

If you have any questions, please feel free to call Amy Boss (860)257-0606 or reach out via email to Aboss@Catic.com or Agentservices@Catic.com.

Fall County Seminar Series 


Our county seminars will resume this month! There is still time to register.

Please click here for more information and to register.

Rocket Mortgage Payoff Issues - Important Guidance

We have experienced several payoff-related issues with Rocket Mortgage that have resulted in small claims against both our agents and the company.

The most common scenario involves properties that are in foreclosure. After receiving a payoff, Rocket has, in some instances, rejected and returned wired payoff funds and then taken an extended period of time to provide a corrected payoff statement. In certain cases, it has taken more than 60 days to obtain an accurate payoff. During that time, the loan balance continues to increase due to additional per diem interest and other charges, creating potential liability exposure.

To help mitigate this risk, we strongly encourage agents to:

• Be aware of this issue when handling Rocket Mortgage payoffs, particularly on foreclosure-related transactions.
  
• Consider holding funds in escrow until Rocket confirms acceptance of the payoff amount.
  
• If a payoff discrepancy arises, submit the funds as a principal payment rather than a payoff. This should allow the lender to apply the funds toward the principal balance while a corrected payoff statement is being obtained.

If you encounter this situation, please contact Underwriting immediately. We have established contacts at Rocket Mortgage who have assisted us in expediting the issuance of corrected payoff statements and resolving these matters more efficiently.



Thank you for your attention to this important issue.

Town Clerk Directory & Title Standards


Once again, in our continued effort to go green, we will not be printing the Title Standards or the Town Clerk Directory this year.

The Town Clerk Directory can be accessed on our website, via the municipal app or flipping book. If you are out and about and notice a change in hours or other pertinent information, please email Katie. 

The Title Standards can be accessed on our website.

CATIC Academy is pleased to present the following upcoming webinars:

November 10th @ 12:00PM: What to Expect in 2027 as the Federal Reserve Raises Interest Rates: Featuring Dr. Lawrence Yun, Chief Economist, National Association of REALTORS® 

November 17th @ 12:00PM: HO HO OH NO! RESPA Rules on Gifting and More

November 19th @ 10:00AM: Fraud Files: Real Title Claims, Real Losses, Real Solutions 

To register, simply click the orange webinar titles above. Each session is approved for 1 CLE credit in CT, NH, VT, and NY, with additional state approvals pending. Check CATIC Academy for updated CLE accreditation details.

Can’t access CATIC Academy? That sounds terrible!

If you are a CATIC agent, all you need is a CATIC agent login.

Click here to create one today and start enjoying all the Academy has to offer!

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