RESOURCE FEATURE - ALTA Forms Page on TheFund.com
By now, you are probably aware that the Florida Office of Insurance Regulation (OIR) approved the 2021 ALTA Title Insurance Forms for use effective October 3, 2022. Use of the new forms will be required after a short transition period and here are a few key resources that will help you prepare for that change.
- On October 5, Fund branches began using the new commitment forms and are no longer issuing the "old" commitment form.
- If you "download" this new commitment into your software, it will likely convert it to the "old" commitment form (because your software has probably not been updated; if it has, no conversion will take place).
- It is perfectly fine to continue to issue the "old" commitment form. At some future date, OIR will decertify the "old" forms and you will no longer be able to use them. We will keep you posted on this date with plenty of advance notice.
- The new policy and endorsement forms will be incorporated into our title production system in the near future. We will let you know when this is completed.
- DoubleTime® and E-Closing DT are in the process of updating the forms through their software. We will keep you posted as to those availability dates.
- You can continue to issue the "old" policy and endorsement forms even if you issued a commitment on the new 2021 form. You can continue to utilize those forms in DoubleTime® and E-Closing DT for your policy production.
- If you want or need to issue a 2021 owners or loan policy, or any of the new endorsements, they are available in PDF fillable format on www.thefund.com. 2021 policy jackets will also be available in ePolicyManager. YOU WILL NEED YOUR FUNDNET USER NAME AND PASSWORD IN ORDER TO ACCESS THESE FORMS on the website.
Be sure to read The Wait is Over! The New 2021 ALTA Policy Forms by Jalinda (Jay) Davis, Fund Senior Underwriting Attorney in the November Fund Concept. To keep up with all of the latest news on the 2021 ALTA Forms, visit the ALTA Forms page on thefund.com
