Category: Title Insurance

FAN and SETCO Partnership Featured in The Title Report

Today’s Title Report update features FAN’s latest announcement on the partnership with SETCO Services LLC.

“Florida Agency Network (FAN) is joining forces with SETCO Services, LLC headquartered in Destin, Fla. FAN CEO Aaron Davis told The Title Report this latest venture marks a new initiative by the title insurance agencies…”

To read the full feature, click HERE.

To read the press release, click HERE.

The post FAN and SETCO Partnership Featured in The Title Report appeared first on Florida Agency Network.

Source: Flagency

Florida Agency Network and SETCO Services, LLC Join Forces to Bring Statewide Solutions

Florida’s premier network of independent title agencies joins forces with the largest independent agency in North Florida to bring settlement services to real estate professionals throughout the state.

Tampa, Fla. – August 12, 2016 – Florida Agency Network (FAN), Florida’s largest network of independent title insurance agencies, announces that it is joining forces with SETCO Services, LLC,
headquartered in Destin, FL. This latest venture marks a new initiative by FAN to grow the Network through the creation of strategic relationships in certain key Florida markets where FAN is currently under-represented. As opposed to other FAN locations established through organic growth or formalized partnerships, the SETCO announcement represents FAN’s first non-equity relationship where the entities will support one another and avail themselves of each other’s locations, client relationships,
marketing, and other ancillary services.

Through these new relationships the network benefits by adding additional locations to its statewide footprint, and better service for its clients through additional brick and mortar offices with local
knowledge and expertise, while the new FAN agent partners gain access to vast resources and a robust menu of products and services.

“We are incredibly excited to announce the formation of this strategic partnership with SETCO Services, LLC, which is a first of this kind for us. It represents a new approach to true partnership amongst independent agents in Florida,” says Aaron M. Davis, CEO of the Florida Agency Network. “We are able to significantly expand our territory through additional brick and mortar locations while keeping that ‘boots on the ground’ local knowledge to better serve our client base. At the same time, both of our companies share the same vision and commitment to industry compliance through the completion of our SOC 1 and SOC 2 certifications. We plan to focus our combined energies and expertise on serving a broader range of customers and delivering more efficient solutions across the state.”

SETCO Services, LLC will utilize the back-office solutions provided by FAN. Centralizing the non-core title services will allow SETCO Services, LLC to better focus on providing exceptional service for every real estate professional while maintaining top-notch security and protection of NPPI via FAN’s compliance controls.

“The relationship with Florida Agency Network will allow SETCO to offer more diverse yet streamlined services which will only further improve the customer service to our clientele,” says George T. Brannon, Jr., Chief Operating Officer of SETCO Services, LLC. “The Leadership and goals of our companies are like-minded and this opportunity will provide all organizations partnered with Florida Agency Network to grow more efficiently and effectively in the markets they choose to lead.”

FAN’s tight security controls consist of SSAE 16 SOC 1 and SOC 2, ALTA Best Practices Certification (pillars 1-7 via 3rd Party), and support through its I.T. affiliate, Premier Data Services (PDS). PDS is a Managed Service Provider that offers solutions for unmet needs within the real estate and settlement services industry.

The post Florida Agency Network and SETCO Services, LLC Join Forces to Bring Statewide Solutions appeared first on Florida Agency Network.

Source: Flagency

FAN CEO, Aaron M. Davis, to Speak at 2016 NS3 Summit

The National Settlement Services Summit offers a destination for industry leaders to come together for “unrivaled networking and learning.” This year’s theme is Knowledge In Action and will offer educational breakout sessions with keynote speakers who are highly regarded within the Settlement Services Industry. One of which will be our very own Aaron M. Davis, CEO/President of Florida Agency Network.

Davis will be speaking in the Breakout Session “Business NOT As Usual” on Tuesday, June 7 from 9:40 am – 10:40 am. Davis, along side Cynthia McGovern, Founder of Orange Leaf Consulting, will discuss life in a post-TRID world and how to embrace the changes to elevate business results.

To register for NS3, visit You can save $30 when you use the Coupon Code: SPEAKER.

NS3 Registration - SM FAN (1)

The post FAN CEO, Aaron M. Davis, to Speak at 2016 NS3 Summit appeared first on Florida Agency Network.

Source: Flagency

Timeline > Consumer Financial Protection Bureau

Source: Timeline > Consumer Financial Protection Bureau


Here’s a full timeline of how we created the Loan Estimate and Closing Disclosure forms, part of our Know Before You Owe: Mortgages project. It’s a look back at our effort to make mortgage disclosures simpler and more effective, with the input of the people who will actually use them.

You can also return to the main page to view an interactive timeline.

July 21, 2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act is signed into law.

The new law required the CFPB to combine the Truth in Lending and Real Estate Settlement Procedures Act disclosures.

December 6, 2010

The Treasury Department hosts a mortgage disclosure symposium.

The event brought together consumer advocates, industry, marketers, and more to discuss CFPB implementation of the combined disclosures.

February 21, 2011

Design begins.

Starting with the legal requirements and the consumer in mind, we began sketching prototype forms for testing.

During this process, the team discussed preliminary issues and ideas about mortgage disclosures. This session set the context for the disclosures and was a starting point for their development. The team continued to develop these issues and ideas over more than a year during the development process.

May 18, 2011

Know Before You Owe opens online.

We posted the first two prototype loan estimates. We asked consumers and industry to examine them and tell us what worked and what didn’t. We repeated this process for several future rounds. Over the course of the next ten months, people submitted more than 27,000 comments.

May 19, 2011 – May 24, 2011

Qualitative testing begins in Baltimore.

We sat down with consumers, lenders, and brokers to examine the first set of loan estimate prototypes to test two different graphic design approaches.

Disclosures tested:

Prototype A
Prototype B

June 27, 2011 – July 1, 2011

Los Angeles, CA

Consumers and industry participants worked with prototypes with lump sum closing costs and prototypes with itemized closing costs.

Disclosures tested:

Prototype A
Prototype B

August 1, 2011 – August 3, 2011

Chicago, IL

Again, we asked testing participants to work with prototypes with lump sum closing costs and itemized closing costs.

Disclosures tested:

Prototype A
Prototype B

September 12, 2011 – September 14, 2011

Springfield, MA

Another round of closing cost tests, as we presented participants with one disclosure that had the two-column design from previous rounds and another that used new graphic presentations of the costs.

Disclosures tested:

Prototype A
Prototype B

October 17, 2011 – October 19, 2011

Albuquerque, NM

In this round, we presented closing costs in the itemized format and worked on a table that shows how payments change over time.

Disclosures tested:

Prototype A
Prototype B

November 8, 2011 – November 10, 2011

Des Moines, IA

We began testing closing disclosures. Both designs included HUD-1-style numbering for closing details, but two different ways of presenting other costs and Truth in Lending information.

Disclosures tested:

Prototype A
Prototype B

December 13, 2011 – December 15, 2011

Birmingham, AL

One form continued to use the HUD-1 style numbered closing cost details; the other was formatted more like the Loan Estimate, carrying over the Cash to Close table and no line numbers.

Disclosures tested:

Prototype A
Prototype B

January 24, 2012 – January 26, 2012

Philadelphia, PA

In this round, we settled on prototypes formatted like the Loan Estimate, but one included line numbers and the other didn’t. We also began testing the Loan Estimate with the Closing Disclosure.

Disclosures tested:

Prototype A
Prototype B
Prototype C

February 20, 2012 – February 23, 2012

Austin, TX

Participants reviewed one Loan Estimate and one Closing Disclosure (with line numbers) to see how well they worked together.

Disclosures tested:

Prototype A
Prototype B

February 21, 2012

We convene a small business review panel.

A panel of representatives from the CFPB, the Small Business Administration (SBA), and the Office of Management and Budget (OMB) considered the potential impact of the proposals under consideration on small businesses that will provide the mortgage disclosures.

March 6, 2012

We meet with small businesses.

The panel met with small businesses and asked for their feedback on the impacts of various proposals the CFPB is considering. This feedback is summarized in the panel’s report.
(Note: Link to large PDF file.)

March 26, 2012

Back to Baltimore!

We conducted one final round of testing to confirm that some modifications from the last round work for consumers.

Disclosures tested:

Prototype A
Prototype B
Prototype C

July 9, 2012

Proposal of the new rule.

The CFPB released a Notice of Proposed Rulemaking. The notice proposed a new rule to implement the combined mortgage disclosures and requested your comments on the proposal.

November 6, 2012

Comment period on most of the proposed rule closes.

Between the public comment period and other information for the record, the CFPB reviewed nearly 3,000 comments. These comments helped us improve the disclosures and the final rule.

October 11, 2012 – December 13, 2012

We test Spanish language versions of the disclosures across the country.

We conducted qualitative consumer testing on Spanish language versions of the proposed disclosures. We tested in three cities: Arlington, Va. (October 11-12); Phoenix, Az. (November 14-15); and Miami, Fla. (December 12-13).

April 23, 2013 – June 13, 2013

Validating our testing

With the help of Kleimann Communication Group, the contractor who helped us throughout the testing process, we conducted a quantitative study of the new forms with 858 consumers in 20 locations across the country. By nearly every measure, the study showed that the new forms offer a statistically significant improvement over the existing forms.

June 18, 2013 – July 26, 2013

Additional testing with modified disclosures

In response to comments, we developed and tested different versions of the disclosures for refinance loans, which we tested for three rounds. (In our last round, we tested a modification for both purchases and refinances.) We also did one more round of Spanish language testing for the refinance versions. The modified disclosures tested well and are the ones included in the final rule.

November 20, 2013

A final rule

The CFPB issues a Final Rule. The final rule creates new integrated mortgage disclosures and details the requirements for using them. The rule is effective for mortgage applications received starting August 1, 2015.

June 24, 2015

New Effective Date Proposed

The CFPB proposes a new effective date of October 3, 2015 for the Know Before You Owe mortgage disclosure rule.

July 21, 2015

New Effective Date Announced

The CFPB issues a final rule moving the effective date to October 3, 2015.

Can I Get a HUD?

After October 3, 2015 you will no longer be receiving a HUD-1 settlement statement before consummation of a closed-end credit transaction secured by real property.

Say what?!?!

That’s right, I just said consummation of a closed-end credit transaction and no more HUD. There is new jargon to go along with the new, easy-to-read, consumer friendly, disclosures.

Bon Voyage HUD!

After October 3, the ‘HUD’  will be called a ‘Closing Disclosure’ (CD). ‘Closing’ will be referred to as consummation and the ‘Good-Faith-Estimate’ (GFE) will be called a ‘Loan Estimate’.

Take a peek at the new disclosures!

Closing-Disclosure_Page_1 Closing-Disclosure_Page_2 Closing-Disclosure_Page_3 Closing-Disclosure_Page_4 Closing-Disclosure_Page_5

Stay Afloat Post-TRID

2015 Florida Realtors® Convention & Trade Expo


Each year, the Florida Realtors® Convention & Trade Expo gathers thousands of Realtors looking to up their game. This years theme is Celebration 15; the event falls on August 19-23 and is held at the Rosen Shingle Creek in Orlando, Florida. The free two-day Expo is on Thursday and Friday–all you have to do is register. There are over 30 education sessions sorted into six learning tracks–technology, broker, productivity, trends, personal growth, and continuing education. Along with the Convention, the Trade Expo has over 200 exhibitors that come packed with promotional materials and exquisite raffle prizes. This years keynote speaker is Notre Dame’s former Head Coach Lou Holtz.

On October 3, 2015 the TILA-RESPA Integrated Disclosure (TRID) rule will go into effect. The Florida Agency Network (FAN) is leading the industry through uncharted waters to the new disclosures. Title agencies in the FAN network are prepped and ready to keep you afloat before, during, and after these industry changes. Join us at booth 625 as we say Bon Voyage to the HUD-1 and celebrate the implementation of the new Closing Disclosure (CD). Get social with us and enter to win an Apple iWatch!

General Requirements for the Loan Estimate Disclosure Post TRID

Stay on top of your game by familiarizing yourself with the general requirements that are going change in regards to the Good-Faith Estimate when the new TILA-RESPA Integrated Disclosure (TRID) rule goes into effect.

First of all, it is no longer going to be called a Good-Faith Estimate but will then be identified as a Loan Estimate.

Guess what?!?!

The jargon isn’t the only thing that is changing! The new disclosure carries with it some timing deadlines as well as a new look and lay out to the forms used instead of the familiar GFE.

The creditor, formally known as the lender, is required to provide all consumers of closed-end transactions secured by real property with a good-faith estimate of credit costs and transaction terms.

Mortgage brokers or creditors may provide the Loan Estimate to the consumer when the mortgage broker receives the consumer’s completed application and must be provided no later than 3 business days after the completed application has been turned in.

This new TILA-RESPA form integrates and replaces the current RESPA GFE and the initial TIL for these transaction types. Creditors must issue a revised Loan Estimate only in situations where changed circumstances resulted in increased charges.

These general requirement changes are meant to help better inform, protect and serve the consumer. The Florida Agency Network is ready to guide the industry through these changes and looks forward to partnering with you to streamline the process.


Schedule a Training Class

Max Jackson

3 Things to Keep in Mind When Writing Contracts Post TRID

Blog Header

The TILA-RESPA rule (TRID) is proposed to go into effect this year on October 3. Buyer’s Agents will need to be aware of 3 main things: what type of loan product their client is using to purchase, the expected closing date and if their title partner is approved to do business with their client’s lender of choice. This is especially true when it comes down to writing the contract.

Woman signing a paperNot all Transactions are Covered by the New Rule

Most closed-end consumer credit transactions that are secured by real property are covered by the new rule.

Certain types of loans that are currently subject to TILA but not RESPA are subject to the TRID rule as well, such as construction-only loans, loans secured by vacant land or by 25 or more acres and credit extended to specific trusts for estate planning purposes.

TRID will not cover HELOC’s, Reverse Mortgages or Chattel-dwelling loans. Other exemptions include loans that are made by a person or entity that makes five or fewer mortgages in a calendar year. In addition to, housing assistance loan programs for low- and moderate- income consumers are partially exempt.

It’s All About Timingtiming

The typical timeline of the closing process is going to change not only in the form of new documents and disclosures but on the operational side of things as well. It will take some time for the industry to adjust to these changes. Just after the rule goes into effect, it is recommended to add on an extra 15 days to the closing date when writing the contract. Eventually, as the industry adjusts, the forecast predicts this will move us to a more paperless environment resulting in an even quicker closing timeline of less than the typical 30 days in Florida.

HandshakeIs Your Title Partner Approved to do Business With Your Client’s Lender?

Security is the main issue in regards to compliance between Title Agencies and Lenders due to the obligation both parties must protect Non-Public Information (NPI) data that is exchanged during a transaction. Lenders cannot do business with agencies that do not have compliant software to protect NPI. Technology has a big role in securing data. In an effort to comply, Agencies in the Florida Agency Network use SoftPro to secure the communication of NPI. You can find SoftPro on the American Land and Title Association’s Elite List of 12 Providers that can assist with compliance.

It is best to work with a preferred title partner that is compliant to ensure the least amount of hicups at the closing table. FAN has multiple agencies in our network that are ready to take on these changes. To find an agency in the network near you visit or contact

Check out what the CFPB has to say below or visit their site by clicking here:




Specific Record Retention Requirements for the TILA-RESPA Rule

Blog Headerarchival-records-storageThere are specific record retention requirements of the closing disclosure for the TILA-RESPA rule. Do your lending partners comply?

The creditor must retain copies of the closing disclosure and all related documents for 5 years after consummation.

If the creditor sells, transfers or no longer has interest in the loan the creditor must provide a copy of the closing disclosure to the new servicer.

There is no specific requirement on how the copies must be retained leaving the opportunity to streamline our lives through technology.

You can take a closer look below or to view the CFPB’s Compliance guide here.




The Florida Agency Network is an industry leader in compliance. All agencies in the Florida Agency Network are prepped and ready to take on this industry game changer. It is important for your title partner to be compliant with the TRID rule once it goes into effect.

To find out more about partnering with a title agency in the network contact:

Max Jackson

digital document storage