January 18, 2024

In This Issue:

  • ALTA Updates AOL Resource to Reflect Changes Fannie Made to Selling Guide in December
  • ICYMI: Texas Realtors Video Resource: Deadlines for Paying Earnest Money and Option Fee Under Purchase Contracts
  • Cybersecurity: CISA Adds Three Known Exploited Vulnerabilities to Catalog

ALTA Updates AOL Resource to Reflect Changes Fannie Made to Selling Guide in December

ALTA | Jan. 12, 2024
ALTA has updated their AOL resource guide to reflect Fannie Mae's changes to its Selling Guide in December. ALTA members can use the guide when talking to lenders considering using an insured attorney opinion letter (AOL) product instead of title insurance. The guide highlights the significant additional risks that lenders assume when using an AOL instead of title insurance. The FAQ document is broken into five sections that address transaction eligibility, coverage, cost, representation, and warranty risk and legal concerns. The guide showcases the wide gaps in coverage presented by unregulated title insurance alternatives and the many shortcomings associated with their use.
 
Review ALTA's Revised FAQs for Lenders Considering Title Insurance vs. AOLs »
 
TLTA Editor's Note: ICYMI, you can learn more about Fannie's updates in this coverage from ALTA. Also, here's Fannie's updated sellling guide for your reference. 

ICYMI: Texas Realtors Video Resource: Deadlines for Paying Earnest Money and Option Fee Under Purchase Contracts

Texas Realtors | October 2023
The following video from Texas Realtors discusses how to count days in determining when to pay the Earnest Money and Option Fee in the purchase contracts.
 

 
Watch the Video »

Cybersecurity: CISA Adds Three Known Exploited Vulnerabilities to Catalog

U.S. Cybersecurity and Infrastructure Security Agency | Jan. 17, 2024
CISA has added three new vulnerabilities to its Known Exploited Vulnerabilities Catalog, based on evidence of active exploitation.
 
Learn more »
 
TLTA Editor's Note: In case you missed these, here's other recent cybersecurity and identify theft news of which you should be aware: 
 
Cybersecurity Advisory from ALTA's Information Security Work Group »
FinCEN Issues Analysis of Identity-Related Suspicious Activity »