Recap: OIR Rule Hearing On Certificates Of Mortgage Release

 

On Thursday, November 8, 2007, the Office of Insurance Regulation (“OIR”) scheduled a public hearing on Rule 69O-186.017, relating to Certificates of Mortgage Release.  Customarily, the OIR schedules these hearings but will only hold them if they are formally requested in writing, by a party in interest.

The hearing on Rule 69O-186.017 was not formally requested so it was not held.  This hearing was noticed in order to discuss the repeal of the Rule, given that the statute authorizing Rule 69O-186.017 has already been repealed. 

Rule 690-186.017 reads as follows:

           
“The actuarially sound premium that may be charged for recording a certificate of mortgage release pursuant to Section 701.041, F.S., is a reasonable fee for actual work performed during the recording of the certificate of mortgage release, not to exceed twenty-five dollars.”

 

There being no hearing, the Rule is scheduled to go before the Financial Services Commission in order to be approved for repeal.

 

 

 

Should you have any questions or comments regarding this information, please feel free to contact this office.