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  • September 16, 2014 11:06 AM | Michael Russo (Administrator)

    MESSAGE FROM IDA WILLIAMS, DC RECORDER OF DEEDS:

    I would like to get the attention of DCLTA members about a new OTR notice on purchase money deeds of trust.  The notice is very simple and straightforward in requiring full compliance with DC Code 42-1103(b-1)(2).  Below is the link to the notice.  This notice is the precursor to the upcoming notice and changes in the FP-7.  Please feel free to contact me if there are any questions.

     http://otr.cfo.dc.gov/page/otr-notices

  • September 16, 2014 10:41 AM | Michael Russo (Administrator)

    The Recorder of Deeds has reached out to DCLTA to get our members input on the proposed revisions to the FP7 Form.

     The main revision will focus on Part J of the FP7 which deals with consideration and its financing.  The current form does not provide for information on what portion of the loan is purchase money.  So, the intent is to have the filers separately show the purchase money amount or other exempt amounts vs. the non-exempt amounts.

     Please see the email below from Ida Williams, Recorder of Deeds, and provide your input by email. Thank you.

    The proposed revision aims at revamping Part J of the FP-7.  Currently part J provides fields for Cash, First Mortgage, Second Mortgage; Assumed.  There is Line 1 “Construction loan”; line 2 “Total Consideration”; line 3 “Assessed value if no consideration or nominal”. 

     

    DC Code section 42-1103 (b-1)(2) provides for recording requirements of a purchase money deed of trust.  One of the provisions is that a purchase money DOT should recite on its face the amount of purchase money being secured by the instrument.  The industry and ROD practice so far has been to overlook this requirement.  Very rarely do purchase money DOT-s, commercial and residential, conform with this legal requirement.  The current FP7 doesn’t provide for separate fields for the purchase money to be inserted.   

     

     (2) A purchase money mortgage or purchase money deed of trust submitted to the Mayor for recordation shall:
     
             (A) Be executed by the purchaser of the real property as part of a series of transactions conveying title to real property to the purchaser;
     
             (B) Reference the deed conveying title to the purchaser of the real property by date and instrument number;
     
             (C) Recite on the face of the document that it is a purchase money mortgage or purchase money deed of trust; and
     
             (D) Recite on the face of the document the amount of purchase money that it secures.

     

     

    The effort at this point is to have part J of the FP-7 contain fields for the purchase money amount and other exempt amounts in cases of refinances, modifications or other partially exempt transactions.  Below is an idea in its very infant stages as to what Part J of FP7 should contain.  Suggestions and ideas are being sought to have a comprehensive and easy to follow part J of FP-7.

     

    Part J-Consideration and Financing

     

    • (a)    Acquisition

     

    Cash

    First Mortgage                 Purchase Money Amount _______                        Non-Exempt Amount ______

    Second Mortgage            Purchase Money Amount _______                        Non-Exempt Amount ______

    Assumed                             Purchase Money Amount _______                        Non-Exempt Amount ______

    Other

     

    Total of All Non-Exempt DOT-s                                                                                                                                  _______________

     

    • (b)   Financing NOT Related to Transfer of Title

     

    First Deed of Trust                           Exempt Amount ­­­­­­­­­­­ _______________                     Non-Exempt Amount _______

    Second Deed of Trust                    Exempt Amount ­­­­­­­­­­­ _______________                     Non-Exempt Amount _______

    Other                                                    Exempt Amount ­­­­­­­­­­­ _______________                     Non-Exempt Amount _______

     

    Total of all Non-Exempt DOTs                                                                                                                                     ____________________               

     

    Line 1.   Total Acquisition Consideration

    Line 2.   If no consideration use Assessed Value

    Line 3.  Total of all Non-Exempt DOTs (a and b)

     

     Ida Williams, Esq.

    Recorder of Deeds

    Office of the Recorder of Deeds

    Real Property Tax Administration

    Office of Tax and Revenue

    1101 4th St SW-5W

    Washington D.C. 20024

    Direct phone: (202) 442-8610

    ida.williams@dc.gov

  • August 29, 2014 5:07 PM | Michael Russo (Administrator)


    In a stunning reversal of the holding of the D.C. Superior Court, the D.C. Court of Appeals held that the foreclosure of a condominium lien can extinguish the lien of a deed of trust.  The case, which was decided August 28, 2014, is Chase Plaza Condominium Association, Inc. and Darcy, LLC,  v. JP Morgan Chase Bank, N.A.,  


    The primary issue in the case was whether the special 6 month priority given to condominium association dues under D.C. Code § 42-1903.13 (a)(2) resulted in a lien that if foreclosed, would extinguish all inferior liens, including deeds of trusts and mortgages.  The Superior Court had ruled that the liens were not extinguished but the Court of Appeals reversed this ruling and held that all subordinate liens were extinguished by the foreclosure.  If this holding is not further challenged by JP Morgan, the result will be that the lien of all deeds of trust which are secured by condominium units are subject to being extinguished when the unit holder fails to pay any condominium dues.

    A copy of the opinion can be found at this link http://www.dccourts.gov/internet/documents/13-CV-623plus.pdf

  • April 04, 2014 5:37 PM | Michael Russo (Administrator)
    Sorry for the confusion.  The classes for users are cancelled and will be re-set in the future.  We will let you know when we have more information.

    DCLTA
  • March 19, 2014 9:15 AM | Leslie Kostelecky (Administrator)

    The regulations relating to the implementation of the recently passed amendments to the foreclosure mediation statute were finally issued by the Department of Insurance, Securities and Banking.  They were issued effective as of March 4, 2014 and were published in the March 14, 2014 District of Columbia Register.  The regulations were issued as both emergency regulations and proposed final regulations.  The emergency regulations take effect immediately but expire on July 2, 2014.  There is a 30 day comment period for the proposed regulations but barring a big surprise, it is anticipated that the proposed regulations will be issued in final form shortly after the comment period.  Here is a link to the page in the DC Register where the regulations can be found.  http://www.dcregs.dc.gov/Notice/NoticeListForPublic.aspx?type=Issue&CategoryName=Emergency and Proposed Rulemaking&IssueID=442

  • March 06, 2014 3:03 PM | Michael Russo (Administrator)

    All,

    Below are the time frame responses we received from the vendor.  ROD will continue to work closely with both the title industry and the vendor to achieve all the necessary improvements to the website. 

     COMPLETED/NEAR COMPLETION -  Completed already or in the coming week

    • ·         Allowing users to sort by Roll/Frame – scheduled for the end of this month..
    • ·         Ability to search for multiple, non-consecutive, lots at one time - scheduled for the end of this month.
    • ·         Remove excess names from the search result page – Completed
    • ·         Improving readability of Print results and of the document itself.  The text of copies is small and hard to read. – scheduled for the end of this month
    • ·         Make Square and Lot the default search criteria instead of Name – Completed, for the external site
    • ·         Increase speed of search and printing.  The system is very slow in generating results and printing - Seems to have been completed. Propertyinfo is continuing to work on optimizing the results, but is not noticing any significant delays at this time. Keep in mind, that if there is a significant amount of users using the website at one time, that load will cause the search to work slower.
    • ·         Easy way for the user to get an email of receipt at the time of recording email themselves the receipt – Completed. All users (other than Guest users) have the ability to email the document to themselves instead of printing or downloading. If they choose this option, they will get a receipt emailed to them at this time as well
    • ·         Ability to email a purchased document without saving it first page – Completed

     

    SLATED FOR FUTURE DEVELOPMENT – Each of these items should be completed within the next two release cycles (End of March or Summer)

    • ·         Allowing users to sort by Book Type  – Should be added by Summer Release
    • ·         Adding comment to payment area to denote client number/billing to show on receipt –Looking to get added by Summer release.

     

    ON FEATURE REQUEST LIST – NOT CURRENTLY SLATED FOR DEVELOPMENT

    • ·         Allowing users to sort Square/Lot – It is added to request list for possible release in the summer.
    • ·         Advanced sort functionality allowing sorting up to 3 variables at a time – It is added to request list for possible release in the summer.
    • ·         Add ability to go directly to Print History for printing documents previously purchased on CountyFusion – It is added to request list for possible release in the summer.

     

    Ida Williams, Esq.
    Recorder of Deeds
    Office of the Recorder of Deeds
    Real Property Tax Administration
    Office of Tax and Revenue
    1101 4th St SW-5W
    Washington D.C. 20024
    Direct phone: (202) 442-8610

    ida.williams@dc.gov

  • February 28, 2014 11:26 AM | Leslie Kostelecky (Administrator)

    Below is what I hope to be an almost inclusive list of improvements to the website that was sent to the developers today.  I will keep you updates as to the status of requested improvements.

    • Allowing users to Square/Lot, Book,  Roll/Frame (completed for upcoming release) sortable search fields
    • Ability to search for multiple, non-consecutive, lots at one time
    •  Advanced sort functionality allowing sorting up to 3 variables at a time
    •  Add ability to search by consecutive document range on external website  or non-sequential documents simultaneously;
    • Remove excess names from the search result page
    • Improving readability of Print results and of the document itself.  The text of copies is small and hard to read.
    • Make Square and Lot the default search criteria instead of Name;
    • Increase speed of search and printing.  The system is very slow in generating results and printing;
    • Adding comment to payment area to denote client number/billing to show on receipt
    • Easy way for the user to get an email of receipt at the time of recording email themselves the receipt

    ·        Right now the receipt pops up, but disappears immediately in the print queue process so I’m generally not able to retrieve it.

    ·        Allow credit card charge fields to accept special characters;

    •  Ability to email a purchased document without saving it first;
    • Add ability to go directly to Print History for printing documents previously purchased on Countyfusion;

    Ida Williams, Esq.

    Recorder of Deeds

    Office of the Recorder of Deeds

    Real Property Tax Administration

    Office of Tax and Revenue

    1101 4th St SW-5W

    Washington D.C. 20024

    Direct phone: (202) 442-8610

    ida.williams@dc.gov

     

  • February 27, 2014 11:52 AM | Leslie Kostelecky (Administrator)

    MESSAGE FROM IDA WILLIAMS, RECORDER OF DEEDS REGARDING NEW ROD WEBSITE:

     

    Good morning everyone,

     

    First of all I would like to thank everyone for the controlled patience and understanding most of you have shown on this first frustrating week of the new website.  I would like to assure everyone that ROD is working hard with the developer to address all the concerns you have brought up to my attention.  I tried to include as many title searching offices as I could remember in this email.  Please share this email with your colleagues so ROD can have a deeper reach to the title community.

     

    The new website which became effective February 24th, 2014 was a project slated to take place since 2009.  I wish it did happen at that time, so Mr. Todd could take the heat for all the anomalies which are expected and inherent in any project of this nature and magnitude.  J

     

    The first problem, which appears to have been resolved, was the copy fee of $4.00 for subscribers instead of $2.00.  Propertyinfo will credit back each subscriber’s account that was charged the extra $2.00.  If you continue to have the fee problem, and/or haven’t received the credit please email: gssuport@propertyinfo.com; and copy me as well.

     

    The new website looks different from the one we all were so used to and loved.  Please let’s allow ourselves time to get acclimated to the new way the information is presented.  The major concern from all the abstractors I have talked to is the loss of some functionalities that were available in the old website.  I have conveyed all those issues to the developer in order to make the appropriate changes in the system.  However, I would also prefer to have an all inclusive, comprehensive list of the main search capabilities the new system should have to assist searchers in their work.  Please take a look at the list of issues below and let me know if there is anything else the website should provide in terms of title searching.  The issue of printing out for free copies that were previously purchased in the old system is not something that can be addressed at this time, so please do not include it.

     

    Here is what I have been asked by abstractors so far:

     

    •         Ability to search for multiple, non-consecutive, lots at one time

    •         Improving readability of Print results

    •         Allowing users to sort by Square/Lot, Book,  Roll/Frame 

    •         Advanced sort functionality allowing sorting up to 3 variables at a time

    •         Add ability to search by consecutive document range

    •         remove excess names from chain in order to make it more user

                    friendly, easier to read and reduce the possibilities of mistakes.

     

     

    Again, thank you for your patience.  I am positive that our collaborative efforts will make the new website a reliable tool in your hands.

     

    Ida Williams, Esq.

    Recorder of Deeds

    Office of the Recorder of Deeds

    Real Property Tax Administration

    Office of Tax and Revenue

    1101 4th St SW-5W

    Washington D.C. 20024

    Direct phone: (202) 442-8610

    ida.williams@dc.gov

    Unsubscribe

     

  • February 25, 2014 8:49 AM | Leslie Kostelecky (Administrator)

    Charting the Course through Demographics

    Charting The Course for additional details and the Registration Form.

    Mark your calendar for Thursday, February 27, when Ken Gronbach, demographer and futurist, will provide a

    glimpse into the future of the land records industry. From the real estate comeback to the rise in small, local

    financial institutions to the “boomer” retirement, he’ll explain how the forces will unite to change the

    landscape of the country.

    This half-day program is sponsored by the Property Records Industry Association (PRIA) in conjunction with its

    2014 Winter Symposium at the Marriott Crystal City, Arlington, VA.

  • October 18, 2013 1:30 PM | Leslie Kostelecky (Administrator)

    GREETINGS FROM ALTA’s ANNUAL MEETING

    From Mike Russo, President, DCLTA – October 14, 2013

                   DCLTA President-elect Leslie Kostelecky and I attended the ALTA Annual Convention in Florida this past week.  The location was wonderful and the discussion stimulating.  The attendees and speakers included innovators and strong leaders in the title industry.  Many of the sessions focused on the CFPB regulatory changes and the related adjustments of the lending industry.  CFPB’s new “RESPA/TILA” regulations are expected before the end of the year.  This new Rule will impose a new combined HUD-1/TILA form and possibly an entirely new process (“Will the lender be required to complete the HUD-1 and not the settlement agent?”)  DCLTA encourages our members to learn and respond to this new environment which will help you remain competitive and successful.  DCLTA will stay on top of the CFPB rules and regulations and we will update you regarding compliance.

    CFPB IS ALREADY STIRRING UP THE ENFORCEMENT POT

                   My conversations with our colleagues and peers from across the country are somewhat sobering.  I heard of situations were CFPB’s regulators, joined by armed federal agents have visited settlement companies to interview staff, out of the owner’s presence. The regulators wanted to know how the settlement company was drafting Best Practices policies and whether those policies were actually being followed in the day to day workings of the company.  I also heard of several instances where national lenders have contacted agents just days before a settlement and required completion of comprehensive forms, similar to the Best Practices pillars. The lender required satisfactory completion before loans would be funded.  It is clear that the regulators are hearing ALTA’s touting of its ‘Best Practices’ as an answer to regulatory reform and are putting pressure on lenders and the title industry to test compliance.  It is more important now than ever to review the ALTA Best Practices and to implement them in your business.  This preparation will give you an opportunity to be “lucky” and prepared when and if you are faced with inquiries from the regulators or lenders.  You can get started on ALTA’s Best Practices at: http://www.alta.org/bestpractices/index.cfm .

    DC NEW LAWS AND REGULATIONS

                   Locally, our regulator the Department of Insurance, Securities and Business (DISB) has also been busy.  DISB has informally proposed regulations to implement - B20-0268 "SAVING D.C. HOMES FROM FORECLOSURE” law.  The notice and proposed regulations will be on the DCLTA web site (www.dclta.com ) and a stakeholder’s meeting is scheduled for this week.  DCLTA is taking an active role in reviewing and commenting on the rule, where necessary.  We are pleased that DISB has taken our prior comments and included them in the latest version of the law.  The focus of our efforts will be to make sure that those protections remain in the rule at implementation.  We will keep you informed on this process.

                   The DC City Council and has also announced a hearing on three (3) pending tax sale bills relevant to our industry: Bill 20-23, the “Residential Real Property Equity and Transparency Act of 2013”, Bill 20-318, the “Senior Citizen Real Property Tax Relief Act of 2013”, and Bill 20-476, the “District Real Property Tax Sale Act of 2013”.  The Public Hearing Announcement and the text of the bills will be posted on the DCLTA website: www.dclta.com. These laws intend to give the elderly, veterans and those owing only modest amounts in taxes broader rights to avoid losing their homes to tax sales.  DCLTA’s focus for this proposed legislation is to see that whatever rights are provided to homeowners, there is finality in the bills.  We need certainty that a homeowner must raise all of his rights in the sale and tax sale foreclosure process and not be permitted to renew challenges or raise them for the first time in a subsequent law suit after a Tax Deed has been issued.  We will keep you informed of developments in these laws.

    DCLTA – Upcoming Events

    NOVEMBER 5, 2013 – Noon to 4pm.  Lunch and Learn at Maggianos.

    We have a wonderful program planned for November 5th.     

    DC Land Title Association FALL Seminar

    November 5, 2013

    Maggiano's Little Italy • Chevy Chase

    5333 Wisconson Avenue, NW

    Washington, DC  20015

     

    Registration begins at 11:30 a.m.

    Lunch noon to 1:00 p.m.

    Seminar from 1:00 p.m. to 4:00 p.m.

    • Practical Application of “Best Practices” to Your Company– Elizabeth M. Russo, Esq.
    • DC Legislative Updates– David Cox, Esq.
    • Resolving Common DC Recording Issues – Christopher Naughten, Esq. w/panel discussion including Ida Williams, Recorder of Deeds  and, Larry Blasingame.

    CE Credit: 3 hours DC, 1 hour Virginia and 1 hour Maryland.

    You can sign up for this event on line at: http://www.dclta.com/events?eventId=747261&EventViewMode=EventDetails.

    Public Hearing - 101713.pdf

    Rules- BDA Rough Updated underlined version.pdf

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