Labor Allocation F.A.Q.s as of 12/31/13Page 1
Source: Florida Land Title Association
Labor Allocation F.A.Q.s as of 12/31/13
Source: Florida Land Title Association
The F.A.Q.s are being regularly updated on the FLTA website. We encourage you to check there regularly for the latest updates and clarifications. F.A.Q.s on other categories of the Florida Data Call are also available on the FLTA website.
Schedule B
Q:Do I really need to allocate the time devoted to each of those categories shown on Schedule B? I'll spend more time figuring out how to report the time spent on "Fissionable Materials" than we actually spent doing the evaluation!
A:Specify annual hours spent on each item designated by the Roman numerals, and the unique hourly cost per item.Alternatively, you could estimate percentages of time spent on each item.
The subcategories designated by letters or Arabic numerals are for illustration only.Their hourly costs, or percentages of time spent on those items, do not need to be recorded.That said, that information would be quite helpful to OIR in determining agency costs, so feel free to include it.
Q: When reporting on Schedule B, are we to show the base salary or the fully loaded labor cost?
A:When reporting Schedule B figures, base your cost allocations on the fully loaded labor costs--including bonuses, payroll taxes, employee benefits, unemployment compensation, and other costs. We understand that this is different than the way these figures are presented in the main Data Call (Lines 50-55).
Q: The job tasks of certain people in my office don't fit into these categories. The accountant, the receptionist, the janitor and even managers aren't directly involved in the day-to-day of Search, Exam, etc. How should their labor costs be allocated on Schedule B?
A:Employees who don't devote a substantial portion of their working time to tasks which fall into one of the Schedule B categories (this may include receptionists, cleaning staff, accounting personnel, managers, human resources staff and other similar support functions) should not be included in the Schedule B allocations. Their costs are picked up on the Report Lines. However, should a manager or other employee who normally does not do the actual work addressed in Schedule B sometimes do the work, then that occasional time and cost should be included in Schedule B. The point is, they should actually perform the work to be counted, not just supervise it.
Q:Where should I allocate time:
-----when I call the underwriter for advice on a title matter?
- A: III. Determination of Insurability
-----when discussing with closing officer questions relative to commitment matters?
- A: III. Determination of Insurability
------when reviewing with a consumer a specific requirement on the title commitmentwhichmust beaddressed orresolved at closing, such as issues relating to restrictions on road maintenance agreements or easements?
- A: This is reviewing coverages with the consumer, and, therefore it is title policy related.This falls under III Determination of Insurability if commitment related, or IV Curative Efforts, policy matters.
-----to review the trust?
- A: III. Determination of Insurability
-----to update the title commitment?
- A: III. Determination of Insurability
-----to complete the form to request a title update (updating the commitment prior to closing) and
emailing the closing officer?
- A: I. Search
-----to make copies of B2 Exceptions on the commitment for the consumer?
- A: I. Search
-----tocompose and send letter or to phone parties to acknowledge receipt of a new order?
- A: These activities should be allocated to V. Closing, providing that no curative information is obtained from the seller during the phone call. If curative information is obtained (such as loan numbers and social security numbers), then it should be allocated to IV. Curative Efforts.
-----when working on a canceled file (making sure that I have a zero ledger in the file; returning all original documents to the customers, such as original death certificates and owners policies)?
- A: V. Closing
Q:Do I allocate time for pulling copies of documents to be examined?
A:Yes, in I. Search