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Hello,
Paul.
I have lots of great things for you in
this month's issue of ORT News!
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Who the Stork will be paying a visit
to;
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Information on the
"Availability of FDIC
Insurance";
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New Manufactured Housing Rules and
Forms;
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The latest from
TLTA;
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Ask
Ann;
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Article on why
customer awareness
isn't a big deal;
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Summer quips and
quotes; and,
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Labor Day
trivia.
Hope you have a great Holiday
weekend!
Shannon
Skurner | | |
| ORT Press
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The Stork
is Coming to the
Claims Department...
Katie Heron,
Claims
Assistant, is expecting a
boy on
October
26th.
Britt Naponic,
Claims
Attorney, is expecting a girl on
November
19th.
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Is
It Current, Correct
and
Complete?
We
would appreciate your
help to
assure that the information we have on
file for you
is current, correct and complete
by
clicking on the words "Update Profile"
located at the very bottom of
this email. Once there, you will be
able to view your
information and can
make any
corrections, updates and/or fill in any
missing information
- including your birth date (month & day only )
information, directly
onto the
form. Thanks! | | | |
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Industry-Related
News
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Availability of FDIC
Insurance
Since
the closure of
IndyMac Bank FSB on Friday, July
11, the Federal Deposit Insurance
Corporation ("FDIC") has received several inquiries from
title companies concerning the
amount of FDIC Insurance
available when:
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A
bank insured by the FDIC fails;
and,
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The
title company maintains an escrow account in
which the funds from several parties have
been deposited and are therefore, commingled in
the same
account.
On July
21, 2008, the
FDIC issued a
standard communication
response to the inquiries which
you
can view by clicking here.
The communication reviews this
issue and the requirements
the FDIC has developed to
identify account
ownership in a manner which
allows "pass
through" recognition of
individual
depositors for the purposes of
determining FDIC
Insurance. A link to the applicable federal
regulations and a telephone number for further
questions is included in the
communication.
Applicable law grants the FDIC broad
discretion to determine
if the requirements to establish pass
through ownership have been met.
ORT
is
not
making any statement
indicating that compliance with the regulations will
allow the maximum available FDIC Insurance for any
particular depositor.
Should you have any questions,
please contact
David Rhodes or Steve Streiff
in our Legal
Department.
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Manufactured Housing Rules
to 10 TAC, Chapter 80
On August 3rd, the
Manufactured Housing
Rules to 10 TAC, Chapter 80 took
effect. Located
on the Manufactured Housing Division's Laws
and Rules webpage in the Current Section,
at: http://www.tdhca.state.tx.us/mh/laws-rules.htm,
is a summary
of the new information.
The new
forms - along with a link to view / download,
are:
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TLTA
Milestones, the
official magazine celebrating a century of
service to the Texas title industry, is now
available. For information, please visit:
www.tlta.org.
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Basic
Manual Updates are now
available. For orders, click here.
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2008
Biennial Rate Hearing Agenda is
now available. To view the Agenda, click
here. | | | |
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Ask Ann...
ORT's Chief Audit Officer
answers
your troublesome
title
questions. |
Ann
Morris
Chief Audit
Officer
713-829-4295
amorris@oldrepublictitle.com |
This
month's topic: Shared Title
Premiums
Question: "When I share title premiums with another
title company or attorney, where
should this be
disclosed?"
Answer: Premium split for closing, title
examination or title evidence should
be disclosed in three places in the guaranty
file:
- The HUD-1 Settlement
Statement (Sec 2702.953)
- Schedule D of commitment
(P-21)
- Fully executed Form T-00 -
Verification of Services
Rendered
(P-22)
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Business
Corner
Your
customers are aware of you.
So what?
Just because your customers are aware of you and/or your
Agency, it does not
affirm they will do business with you today, tomorrow or in
the future.
Don't believe
that? Here's
proof.....
Go here
to read the rest of the
article. | | |
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Summer's Almost
Gone...
Have you ever noticed how happy a dog looks
while he has his head
out the window of a moving car? He
knows it's hot, but
he likes it!
While summer in Texas equates to hot and
humid days, it is the one season out of
the year where we seem to find ways to
rationalize and
respect the heat.
Here are some
quips and quotes about one of our favorite seasons of
the year.
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A perfect summer
day is when the sun is shining, a breeze is blowing,
the birds are singing, and the lawn mower is
broken.
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Summer is that time
of year where there is never enough time to do all the
nothing we want to
do.
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Summer is when
laziness find
respectability.
Labor Day
Many of you
will celebrate this
weekend with one
last picnic. So as you begin to
make your plans for next
Monday, what a good
time to remind ourselves (or become
aware of) who began
Labor Day and in what city and in
what year.
Click
here
to read some interesting facts about
one of our most
popular Holidays - including, what happened twelve years
after the first Labor Day.
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