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The FEDS Deputize a Title Company Posse

Posted By Robert Treuber, Friday, January 15, 2016
Updated: Friday, January 15, 2016

The US Department of the Treasury has an operation called Financial Crimes Enforcement Network (FinCEN). You can learn more about them here:  https://www.fincen.gov/

 

Last week, FinCEN issued an order to four title insurance underwriter corporations for certain real estate transactions in Manhattan and Miami.

  

The execution of this order is a business matter between underwriters and their agents.

 

I have found no way in which the NYSLTA can add value to this, other than to disseminate the public version of the Geographic Targeting Order (GTO).  That document is attached to this news post and can be downloaded from this page.

Download File (PDF)

Tags:  ALTA  FinCEN  Title Insurance Section  US Treasury 

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Nassau County Update - Oct 26 2015

Posted By Robert Treuber, Wednesday, October 28, 2015
Updated: Wednesday, October 28, 2015

A delegation of the NYSLTA Title Insurance Section met with Nassau County Clerk O'Connell and her senior deputies on Monday October 26 at the County Office Building in Mineola, NY. A group of Xerox team members joined via phone conference.

  

The conversation was informative and businesslike.

 

As of this date, the Xerox team is projecting completion of implementation and internet access to the system by mid-November.  Anyone who is familiar with complex systems such as this must acknowledge the potential for unforeseen delays.  It is only reasonable to allow some flexibility to this target date.

  

The ACS system is currently in use in other NY counties and these can be found via uslandrecords.com and nylandrecords.com. 

  

When the new system is fully launched, the Clerk intends to offer informational presentations and training sessions for her staff as well as public users of the system.  The title industry must anticipate slightly longer task completion times while people become accustomed to the new system and different ways of searching and examining land records.

  

The cost for accessing the system and using different features have not yet been announced.

 

Clerk O'Connell has committed to ongoing meetings with the NYSLTA Land Records Committee on a quarterly basis.

 

Tags:  change management  County Clerk  Land Records  Nassau County  technology  Title Insurance Section 

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The New York State Land Title Association, Inc. advances the common interests of all those engaged in the business of abstracting, examining, insuring titles, and otherwise facilitating real estate transactions. The Association promotes the business and general welfare of its Members and protects real property title holders’ ownership rights.