Information Center

ALTA’s released this form to have a national standard clarifying the contractual relationship and liability between underwriters and proposed insureds. The new form is a more streamlined commitment.

We anticipate national lenders and knowledgeable purchasers will require the new form in the near future. The Fund strongly encourages Fund Members to use the CF6R as soon as possible.

Additional information on the CF6R can be found in the May 2017 Fund Concept article, “Introducing the New 2016 ALTA Commitment".

No. The cost of all branch products will remain the same.

CF6R jackets are issued by the Fund Member, even if The Fund prepared the product.

CF6R schedules (for Fund Members’ use), and jackets can be obtained:

1. via DoubleTime if the Member has upgraded to version 7.0.6 or higher
2. via ePolicy Manager located in the “Launch Center” after signing into the Fund’s website, www.thefund.com
3. via https://www.thefund.com/Information-Center/ALTA-Commitment.aspx

If the product was prepared by The Fund, Fund Members, as agents of Old Republic, are authorized to make changes to it, provided the transaction is not over $1 million and there are no extra-hazardous risks (such as, insuring tribal lands, tax deeds, etc.).

Changes may be made either by (1) issuing a Form E endorsement, or (2) revising the applicable schedule and changing the Revision Number accordingly. If the product is over $1 million, or there are extra-hazardous risks, the Fund Member should inform the Fund examiner of the changes, and the Fund examiner will provide the Fund Member with the revised product.

Where changes are made by the Fund examiner, the Commitment Number will reflect a revision number and letter indicating that the product is revised. For example, if the Commitment Number was 666666, the revised product will show 666666-A1.

No. The same jacket is used each time.

No. Fund Members cannot mix jackets. CF6 jackets must be used with CF6 schedules. As well, CF6R jackets are required when using CF6R schedules. Unused paper inventory should be returned to The Fund’s Forms Department.

Yes. DoubleTime 7.0.6 and higher has the ability to import data from CF6R commitment orders. Fund Members that use DoubleTime can upgrade to the latest version by going to www.thefund.com/dt.

The Fund’s Information Technology Division is working closely with our integration partners to ensure existing Fund branch product order integrations continue to work with the addition of the CF6R format.

Fund Members who obtain commitment schedules from the Fund’s website, listed above, can download continuation sheets using the same link.

The Fund will complete only the information known at the time of preparing the product. Since the Loan ID Number is usually not known at the time that the Fund examiner prepares the Fund Branch product, the Fund Member should insert that number in the product. The ALTA Universal ID should also be inserted by the Fund Member. If the Fund Member does not have an ALTA Universal ID, the Fund Member should insert “None” in the field.

Any claim made under an Old Republic policy will be processed according to normal procedures. However, if for some reason a policy was not issued, pursuant to the terms of the Notice in the CF6R jacket, Old Republic has no liability or obligation to honor a claim made by a proposed insured under a CF6R which did not include a jacket signed by the Fund Member (containing the Notice, the Commitment to Issue Policy, the Commitment Conditions), together with the signed Schedule A, Schedule B-I, and Schedule B-II, if any.

Fund Members must now sign both the CF6R jacket and Schedule A with a “wet signature”.

Yes. Electronic signatures are acceptable where the Fund Member has electronic signature technology.

Yes. Fund Members may send proposed insureds a complete copy of the fully executed CF6R, which includes the signed jacket (containing the Notice, the Commitment to Issue Policy, the Commitment Conditions), together with the signed Schedule A, Schedule B-I, and Schedule B- II, via facsimile or email.

Fund Members should start using the CF6R as soon as possible, because it became effective on May 15, 2017. At this time, there is no mandate discontinuing the use of the CF6 form from the Office of Insurance Regulation, Old Republic, or The Fund.

“To Be Determined” should not be used as the proposed insured name or amount on Schedule A of the CF6R. Pursuant to the “COMMITMENT TO ISSUE POLICY” section of the CF6R jacket, the commitment is effective “only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured….” Failure to include this information is also contrary to the Florida Administrative Code. Special requests for “To Be Determined” or “TBD” must be approved by Underwriting.

If a duplicate CF6R is requested, the Fund Member should place a copy of Schedule A, Schedule B-I and Schedule B-II into a second commitment jacket, and place wet signatures on both Schedule A and the jacket.

Yes. Since the CF6 were not serialized, a CF6R can be issued to a proposed insured prior to closing. However, the CF6 should be cancelled by using the Form E endorsement.