Happy New Year, Connecticut! To welcome 2024, we are publishing this quarterly newsletter to keep Connecticut agents updated on activities and information that may have an impact on your real estate closings. If you have ideas for newsletter topics or comments, please reach out to your sales rep or to your local underwriter. | |
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New Municipal Coverage Endorsement for CT Expanded Owner Policies
On November 16th, Joe Taborsak, Jenny Kallenbach, and Jon Anderson hosted a webinar to introduce CATIC’s new and exclusive Municipal Violation Endorsement for the Connecticut Expanded Owner Policy and to review municipal coverages generally. As a CATIC Agent, you can distinguish yourself from the competition by offering this new product to your buyers. Municipal coverage is a great way to help clients understand the value of title insurance, and the new endorsement significantly increases the scope of coverage for municipal violations. CT attorneys are encouraged to learn more about this groundbreaking coverage.
Click here to watch the webinar or to download the endorsement and associated forms. This webinar qualifies for 1 hour of CT CLE.
After the webinar, CATIC published FAQs and a comparison chart to provide a better breakdown on the benefits of this coverage.
Other resources on this topic:
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What is a municipal search? Click here for an informational pamphlet.
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Need a sellsheet explaining the new endorsement to your clients? Click here.
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Need language for your engagement letter? Click here.
Top 10 Frequently Asked Questions About 1031 Exchanges Webinar
Also in November, CATIC Senior Title Counsel David Veleber presented “Top 10 Frequently Asked Questions about 1031 Exchanges” to Showcase Realty; if you have questions about a 1031 Exchange reach out to David or our sister company, CATIC Exchange.
6 Steps to Success in Today's Turbulent Market Webinar
On December 6th, Steve Richman hosted a webinar outlining his 6 Steps To Success In Today’s Turbulent Market. The link to the webinar recording and PowerPoint are here. This webinar qualifies for 1 hour of CT CLE.
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Upcoming Webinars On CATIC Academy | |
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February 22, 2024 - Common Closing Issues and How to Solve Them
- Watch your emails for further information and to register!
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February 1, 8, 15 & 22, 2024 - Real Property Pursuit. This 4-part series will run on the first four Thursdays in February.
- February 1 – Seller side of the transaction
- February 8 – Title and Policy Preparation;
- February 15 – Borrower side of the transaction, including Closing Disclosure;
- February 22 – Post Closing, Refinance and Form 1099-S information.
- Watch your emails for further information and to register!
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Can't access CATIC Academy? That sounds terrible!
The solution is easy. All you need is a CATIC agent login.
Click here to create one today and start enjoying all the Academy has to offer!
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CATIC is a sponsor of the New England Mortgage Expo, being held Thursday, January 11 — Friday, January 12, 2024 at the Mohegan Sun Casino. We’ll be there — and we hope to see you there too! | |
Fraud is an ever-changing enemy. Stay informed and test your skills! Was this a legitimate email or an attempt at fraud? (Scroll below for answer). | |
Geographic Targeting Orders (FINCEN) | |
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On October 22, 2023, the Director of Financial Crimes Enforcement Network (“FinCEN”) renewed the provisions of the Geographic Targeting Order (“GTO”). The purpose of this GTO is to build upon the Bank Secrecy Act (“BSA”) which was created to ensure national banks have the necessary controls in place to deter and detect money laundering, terrorist financing and other criminal acts.
For properties in Connecticut, the GTO reporting requirements apply only when all of the following criteria are met:
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A purchase of residential real property in:
- Fairfield or Litchfield Counties, Connecticut;
- (Note: the GTO applies to numerous other states and counties including but not limited to Suffolk, Middlesex, Bristol, Essex, Norfolk, or Plymouth Counties, Massachusetts; the Boroughs of Brooklyn, Queens, Bronx, Staten Island, or Manhattan in New York City, New York; Miami-Dade, Broward, Palm Beach, Hillsborough, Pasco, Pinellas, Manatee, Sarasota, Charlotte, Lee, or Collier Counties, Florida; Cook County, Illinois; and several other states and counties); and
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The purchase is made by a legal entity, including corporations, limited liability companies, partnerships, or a similar entity that is not a U.S. publicly traded company (trusts are excluded from the GTO); and
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The purchase price is $300,000 or more; and
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The purchase is made without a bank loan or other similar external financing; and
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The purchase is made using currency (cash or virtual), a cashier’s check, certified check, traveler’s check, personal check, business check, and/or wire transfer, inter alia.
The terms of the GTO have been extended until April 18, 2024. For further information about the GTOs and filing procedures click here [link to website]. If you believe you are representing a purchaser that is subject to the GTO and have any questions, please contact your local CATIC underwriter.
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CATIC's Employee Spotlight: Sherri Parella, Senior Paralegal (Norwalk) | |
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Get to know CATIC’s Sherri Parella! You know Sherri as your ‘go to’ paralegal when it comes to policy preparation, special search orders, and complex real estate transactions. That’s because Sherri has been in the real estate business for over 30 years! Prior to CATIC she worked at several law firms and was responsible for handling all facets of real estate closings including coordinating with lenders, preparing loan documents and sale documents, reviewing title documents, preparing title policies, preparing closing protection letters, and working closely with all parties to facilitate the closing.
To get to know Sherri on a more personal level we asked her what she likes to do outside of work: “My nights and weekends are filled with making dinner, grocery shopping, cleaning, and laundry LOL. But I do enjoy going to the beach in the summer, going to dinner with friends, and above all, spending time with my family. It’s rare these days now that my boys are older, but we do manage to get a movie in as a family every now and again. And last but not least, my dog Levi! Being driven around on the weekends is his favorite thing to do, and it makes me happy to see him happy.”
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The Rocky Hill and Hartford offices participated in the annual Toys for Tots drive. A special thanks to our Massachusetts Team for their very generous donation of gifts and to Brenda Wilson, one of our commercial paralegals in our Hartford office, for making the toy drive extra festive this year with a Christmas tree complete with blue and orange CATIC themed tree ornaments! | |
CATIC’s Norwalk office continued its annual tradition of “adopting” children for Christmas through The Salvation Army. This year we were able to adopt 13 children and provide each with a warm coat, new sneakers, and the toy on their Christmas list. The Salvation Army provided gifts for almost 300 children this year and the Norwalk office was proud to help make Christmas special for families in need! | |
(L to R: Trey Altieri, Ashley Dowling, & Kyle Czapiga) | | |
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Ho Ho Ho!
CATIC's Rocky Hill office recently held its annual cookie exchange.
(L to R: Donna Pizzoferrato, Tracy Pandolfo, Oshuan Alvarez, Jim Czapiga, Jackie Pentalow, Cathi Smith, Adam Baig, Jesenia Pagan (missing from photo: John Kowal and Kim Royce))
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1099-S filing deadlines are nearing - click here for more information. | |
This is FRAUD. See below for some telltale indications. | |
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Click here for the Connecticut Underwriters.
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Click here for the Fairfield County (Norwalk) staff.
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Click here for the Rocky Hill staff.
Underwriting Questions?
We have created general email addresses for underwriting inquiries in Connecticut:
Social Media
Be sure to follow CATIC on Facebook, LinkedIn, and Instagram!
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