Ashley Quido Named Co-Chair of the Fairfield County Bar Association Real Estate Committee
We are pleased to announce that Ashley Quido, Title Counsel in our Fairfield County office, has been named co-chair of the Fairfield County Bar Association Real Estate Committee.
The Fairfield County Bar Association provides continuing professional education to its members, and promotes the administration of justice and the fostering of relationships among those involved in the practice of law in southwestern Connecticut. Its membership includes lawyers, court clerks, law students, legal administrators and paralegals, and other legal professionals.
In accepting her new position, Ashley stated, “I am very excited to serve in this new role. I look forward to working with my colleagues to bring educational and networking programs to all bar members over this next year.”
We congratulate Ashley on her new leadership role within the Real Estate Committee.
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FLORIDA
: Do Not Insure Without Underwriting Approval
You must obtain underwriting approval prior to ordering title on or agreeing to provide title insurance involving:
Any of the following properties
:
13104 SW 211
th
Terrace, Miami,
Unit 1203 at 5880 Collins Avenue, Miami Beach,
6120 SW 12
th
Street, West Miami,
Unit 404 at 110 Fontainebleau Blvd., Miami,
4247 SW 165
th
Street, Miami,
15411 SW 143
rd
Avenue, Miami;
Or transactions involving any of the following parties
:
Michael Aleu,
Lester Lavin,
Yohander Jorrin Melhen,
Leonard Betancourt,
Maria Del Pilar Aleu,
Anisleydi Vergel Hermida,
Milagros Marile Acosta Torres, or
Yusmary Shirley Duran.
If you have any questions, please contact
Deb Boyd
, Florida State Counsel.
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Federal Reserve Cuts Interest Rates
On July 31, 2019, the Federal Reserve cut interest rates for the first time in more than a decade. The key federal funds rate was cut by ¼ of a percentage point. In announcing the move, Fed Chairman Jerome Powell described the outlook for the nation’s economy as favorable, and he stated that the rate cut was designed to support that outlook.
Officials stressed that they will continue to monitor economic conditions, and will take further action, as appropriate, to sustain the nation’s economic recovery.
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Resolution Concerning Digital Mortgages Introduced in Congress
Representative Sean Duffy (R-Wisconsin, 7
th District) has introduced a Resolution in Congress that concerns digital mortgages.
House Resolution 500, “A resolution recognizing the benefits of digitization of the mortgage process
,” first reviews the characteristics of digital mortgages and their possible benefits. The Resolution also notes that FHA, Fannie Mae, Freddie Mac, and the Department of Veterans Affairs already allow the use of electronic signatures on mortgage documents, and that Ginnie Mae is in the process of permitting the use of eNotes.
The Resolution then encourages the various states to adopt consistent standards for the digitization of the mortgage process, and urges the Secretary of HUD to continue to support Ginnie Mae’s efforts to accept eNotes and electronically signed mortgage documents.
Although this Resolution does not modify existing law or change public policy, it does indicate that there is an interest at the federal level in digital mortgages. We will keep you apprised of any further developments on this matter.
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Unclaimed Property Deadlines Are Approaching
For a number of northeastern states, filing deadlines for the reporting of unclaimed property are fast approaching.
The table below lists those northeastern states with Fall reporting deadlines.
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Our UCPExpress service can manage all your unclaimed property, from handling the due diligences right through to preparing and submitting final reports with the applicable state agencies.
If you have old, stale-dated checks in your escrow accounts, or closed escrow accounts that contain uncashed checks, give us a call today to discuss how our UCPExpress service can assist you.
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Educational Seminar and Fall Open House
Wednesday, September 18, 2019
The Dockside Grill
215 Foreside Road
Falmouth, Maine 04105
Attend both events, or just one!
Sailing Through a Coastal Transaction: What everyone should know about coastal property boundaries and the rights of the public to the shoreline.
- The Casco Bay Room
- 3:00 pm – 4:30 pm
- 1 ½ hours of CLE Credit
- Presented by Ruth A. Dillingham, William R. Walsh, and J. Gregory Lestage
Open House: Enjoy cocktails and appetizers. Meet other real estate professionals, the CATIC Northern New England Team, and CATIC President, Jim Czapiga.
- The High Tide Lounge at the Dockside Grill
- 4:30 pm - 7:30 pm
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Discounted NEMBC Registration
Join CATIC at the New England Mortgage Bankers Conference, September 11-13 in Newport, Rhode Island!
Receive $100 off your NEMBC registration fee, compliments of CATIC! Use the attached
registration form
to receive the discount. Registrations must be received by September 3, 2019.
Be sure to stop by the CATIC booth to say hello!
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Seminar: Real Property Pursuit in Rocky Hill, CT
August 14, 21, 28
This multi-week series presents an overview of a residential real estate transaction, from opening the file to preparing the final title insurance policy and Closing Disclosures using PrepExpress. Attorneys, secretaries, and paralegals who have limited experience in real estate closings will become familiar with basic closing procedures.
Rocky Hill continues August 14, 2019.
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PrepExpress Online: Introduction and Refresher Seminar
Wednesday, September 11, 2019
8:30 a.m. Registration (Continental breakfast included)
9:00 a.m. - 11:00 a.m. Program
Location: CATIC, 101 Corporate Place, Rocky Hill, CT
This seminar will introduce new users to PrepExpress Online
®
, CATIC’s closing software, as well as highlight new features which have been incorporated into the latest version for existing users. The seminar will include navigation of PE, Closing Disclosures, ALTA Settlement/Disbursement Statements, Preparation of the Title Insurance Policy and related documents, as well as the importing of a title search
.
Please bring a laptop if you have one. There is no cost to attend.
Presented by: Mary Luchenbill and Cindy Ressler, Agency Advisors
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Webinar: Commercial Real Estate Nuts and Bolts - A Sequel
Thursday, October 3, 2019
9:00 AM - 10:30 AM
Do you represent a client who is buying commercial real estate to build on or rehab for his own business enterprise and who is seeking SBA financing for the project, in conjunction with bank temporary/permanent financing? Do you know that you can help the client save money on closing costs?
Are you familiar with how to underwrite leases that may affect title and how to deal with them on the title insurance policy?
Are you aware that some commercial endorsements involve an additional risk charge above the basic policy premium?
Do you know that mechanic’s lien underwriting is different for commercial properties than it is for 1-4 family residential?
If you are looking for information on these topics, as well as others in the commercial realm, this webinar will be of interest to you.
Presenters:
Richard Sellman, Esq., Senior Title Counsel in CATIC’s Rocky Hill office
Bruce Zawodniak, Esq., Senior Title Counsel in CATIC’s Hartford office
This webinar will qualify for CT MCLE credit.
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