Summary


The proposed new rule and rule chapter reaffirm that the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule (“TRID”) will in no way diminish protections currently afforded Florida consumers who engage in real estate transactions involving the issuance of title insurance. The proposed rule requires settlement agents conducting real estate closing transactions in Florida that involve the issuance of title insurance to certify in writing that they agree to disburse escrow funds in accordance with the terms of the transaction.