Wombat Cyber-security Education Training

Scared that you won't recognize a phishing attempt? Worried about clicking to a bad website?  Want to learn about extra security measures you can take to protect your phone, laptop or computer?

VATC is here to try and help law firms avoid making bad cyber decisions through Wombat - a national, 3rd party vendor that provides fun, challenging and informative training sessions. VATC paired with Wombat in 2019 to offer affordable trainings to your office! We're set for year two.

Andy will be sending an email notice to you in January to renew (or begin) your Wombat cyber-security trainings for 2020.  The sessions have been well received by dozens of firms and over 130 participants already signed up. Look for Andy's email so you don't miss out.

If you did not participate last year, you may still sign up for 2020. 
Monthly Marketable Title Mayhem 

Want to test your knowledge of Vermont real estate law? Now you can! 

Beginning  December 4 and continuing on the first Wednesday of every month thereafter, VATC will be publishing a five question, multiple-choice quiz. For those of you who subscribe to Mike Kennedy's famous Ethics blog, this will be a similar question format. 

The quiz is open to one and all. By subscribing (an option available when you open the quiz),  you'll receive: an email each month with the new quiz, answers to the preceding month's quiz and an honor roll list of those who went 5 for 5.

To sign up initially:

a) we'll send out an email announcement shortly - click the link in the email to take you to the first quiz; or

b) go to the VATC website and under "News & Announcements" click on the post about this blog.

NOTE: Once you are in the quiz you can subscribe to receive all future quizzes automatically. 
VATC Title Update & CATICTrac Services 

Many of our members already use VATC's Update Service along with CATIC's Discharge Tracking Service.Tracking Services. More and more members are using CATIC's Aged LienService to track down missing discharges. What's the difference between these three time and money saving services?

VATC Update Service ($30.00)
A post-closing update is ordered online immediately after closing. Our updater gets
to the land records within 45 days post-closing and reports back all recording
information, including discharges. We also report back potential title issues we spot.
If the discharge(s) are not yet in the land records by day #45, it is up to the member
office to continue to track it/them. 

VATC Discharge Tracking Service (Update Service fee plus $20.00 per M ortgage)
This is an add-on to our post-closing Update Service (above). For $20 per open
seller/borrower mortgage, we will continue to track an undischarged lien until it is
recorded! No more problem discharges. 

CATIC Aged Lien Service  (Starts at $175.00)
For Mortgages and liens that are not "active/current", CATIC's Aged Lien Service will
track them for you. You can track the status of your order on-line and you pay ONLY IF a discharge is obtained.

Pricing: $175.00 if the payoff was made within the past 9 years; $250.00 if the
payoff was made 10+ years ago. (Prices do not include the appropriate recording fees).

To place an on-line Aged Lien Order: Log on to the CATIC.com, click on "Agents", then "CATICTrac" and choose "Place Aged Lien Release Order."Questions? Contact CATICTrac at 800-842-2216 and they will be happy to assist
Lau's Corner & Title Tips

Transactions Involving Manufactured Homes:   If you have a loan transaction involving a Manufactured Home, please ASSUME that the lender wants an ALTA 7 series endorsement (e.g. a MH endorsement), even if the lender doesn't ask you for one. In other words, always issue the endorsement on a MH transaction!

For some reason, lenders always wait until after the closing to ask for the endorsement. This causes "issues" since you would not have obtained the required Affidavit and you would not have collected the $100 endorsement fee at the closing. Collecting the affidavit and endorsement fee AT the closing will save your office time, energy and money in the long run.

**Reminder: The VATC website is a great resource for policy preparation tips and explanations of endorsements, etc.  

Career Network:  We often hear of firms who are hiring. While we welcome phone calls or emails, we have added a career network posted under News and Announcements (bottom right hand corner) of the VATC website. We will only post information if we have permission and we will not act as an intermediary. If you would like to add a post, please email Katie the information as you would like it to appear on our website.
Upcoming Seminars - Current Developments in Vermont Real Estate

VATC is continuing its County Seminar series! Join us for 2 hours of CLE. Fun to be had by all! The following seminars have been scheduled:

Bennington County:
Date: Wednesday, December 4th

Windham County:
Date: Wednesday, December 4th

Caledonia & Orleans Counties:
Date: December 10th

Click  here for more information and to register.

Additional Counties will be scheduled in the near future.
CATIC's 1099-S Reporting Service

With the new year approaching why not alleviate time and stress by having CATIC prepare and e-file your 1099-S forms with the IRS.

All you have to do is:

1. Prepare a Substitute Form 1099-S and give it to the seller(s) at the closing table; and
2. Submit the signed Solicitation/Substitute 1099-S forms to CATIC on a quarterly basis.

Upon receipt of the above, CATIC will e-file the 1099-S forms for a minimal fee of $350.00.

Please email Agent Services with any questions or to enroll in this program.