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2021/2022 Town Clerk Directory 

The hard work of compiling updated town information has ended, and the new Town Clerk Directory will be back from the printer very soon! We will be making the rounds to deliver them to your office in the coming weeks. As always, the latest TCD information can be found on our website. If you are out and about and notice a change in hours or other pertinent information, please email Katie. 
American Land Title Association - Policy Forms License

As of 2009, title insurance agents issuing more than 50 title insurance policies a year are required to hold a Policy Forms license ("License") granted by the American Land Title Association's (ALTA). The License authorizes issuance of ALTA's copyrighted policy forms. Renewal is required every January and is based on the number of policies signed the prior year. Keep in mind that an MP and OP issued in the same transaction count as 1 policy only.

If you signed more than 50 title insurance policies in 2020, you are required to purchase a License ($195).  Apply for a license online at the ALTA Store (login and password required; pay through the online portal). If you currently hold a license, you should receive an invoice in December prompting you to renew. You can also elect to become an ALTA member in which case the License is included.

If you issued 50 or fewer title insurance policies in 2020, ALTA still requires an Occasional Use Waiver . Once approved you will be granted a License at no cost.

Please visit the ALTA site for more information. If you have questions or concerns, please contact ALTA Staff at 800-787-2582 x 333 or licensing@alta.org.
Lau's Corner & Title Tips

Electronic Remittance and Electronic Submission - Exciting News!

CATIC agents are now able to electronically submit PrepExpress policies, and remit payment, to CATIC. Faster, better, stronger!

In the face of ever-increasing fraud schemes, these options allow you to operate in a more secure environment. To issue a policy, simply click the Submit button in PrepExpress. To remit payment, simply use an ACH push. No more mail. No more postage costs. No more checks. No more hassle!

Find more information here, along with tutorial videos breaking down the process or, to learn more about this exciting option, contact Katie Caron via email or in the VATC Office, 800.649.3366 or 802.876.6800.

Note: CATIC has received multiple compliance attorney opinion letters stating that these features are fully compliant with the Rules of Professional Conduct.


CATIC's 1099-S Reporting Service

With 2022 approaching why not alleviate time and stress by having CATIC prepare and e-file your 1099-S forms with the IRS.

All you have to do is:
  • Prepare the Substitute Form 1099-S and give it to the seller(s) at the closing table;
  • Submit the signed Solicitation/Substitute 1099-S forms to CATIC on a quarterly basis. 
Upon receipt of the above, CATIC will e-file the 1099-S forms for a minimal fee of  $350.00.

Please email agentservices@catic.com with any questions or to enroll in this program. 
Email Compromise: A Crippling Reality Known to Most Organizations


 
Email compromise, commonly referred to as business email compromise (BEC), has been a prominent player in the cybersecurity arena for quite some time. Last year, victims lost $1.8B to BEC, but even more unsettling is that real estate loss to BEC accounted for 214M+. While this may seem on the smaller side, if you factor in real estate, spoofing, and phishing scams together, they account for nearly 30% of the 1.8B figure. To further understand the severity of BEC, the FBI has declared that “BEC attacks account for losses that are […] 64 times worse than ransomware.” While ransomware’s wrath is detrimental to victims’ pockets, the sentiment behind this BEC statement is that these attacks primarily encompass monetary transfers.
 
Click here to read the full article.