Feb. 11, 2016

TLTA Defends Texas Rate-Setting Structure

American Land Title Association | Feb. 4, 2016
The American Land Title Association published an article about the Texas Association of Business and the Texas Public Policy Foundation attack, focusing on TLTA President Patti Bonner's response defending Texas' rate-setting structure.

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TDI Clarifies Form T-S4: Required From Underwriters but not Agents

Texas Land Title Association | Feb. 11, 2016
The Texas Department of Insurance has asked TLTA to help clear up some confusion regarding Form T-S4, which addresses "Officers Authorized to Provide Information on Financial Matters." Apparently, some title agents have spent time and effort unnecessarily preparing and submitting Form T-S4, which is required annually from underwriters but not agents. In addition, TDI noted that not all underwriters have submitted Form T-S4 annually as required.

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CFPB Corrects Typo Regarding Property-Related Costs

Consumer Financial Protection Bureau | Feb. 10, 2016
The CFPB published a notice in the Federal Register to correct a typographical error regarding tolerances for property taxes and certain other property-related costs.

The Supplementary Information to the TILA-RESPA Final Rule (2013 Supp. Information) contained a typo, which this notice corrects. Specifically, on page 79829 of Volume 78 of the Federal Register, in the first column, in the sentence containing "property insurance premiums, property taxes, homeowner's association dues, condominium fees, and cooperative fees," the phrase "are subject to tolerances" should read "are not subject to tolerances."

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Texas Court Finds in Favor of MERS

DS News | Feb. 8, 2016
The string of legal victories for Mortgage Electronic Registration Systems (MERS) continued on Monday with the announcement from parent company MERSCORP Holdings that a court in Dallas had ruled in MERS’ favor recognizing the company’s right as beneficiary to notice of a lawsuit under both the U.S. and Texas Constitutions.

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Update From the TLTA Legislative Committee

Texas Land Title Association | Feb. 11, 2016
The TLTA Legislative Committee met earlier this week to discuss various issues for consideration as agenda items during the next session in 2017. The committee will be forming subcommittees to study these issues in more detail and determine if they warrant further action.

The bulk of the meeting was spent debriefing the committee on the TAB and TPPF attack on title insurance in Texas and discussing strategies for addressing this issue. This will be the main focus of the committee as it looks toward preparing for the 2017 legislative session.

Common Residential Endorsements (Wednesday, Feb. 17)
Learn which endorsements may be issued when the insured land meets the definition of "residential real property" or will be used for residential purposes.
Endorsements – Land Is Not "Residential Real Property" (Wednesday, Feb. 24)
This webinar covers the endorsements that may be issued when the insured land does not meet the definition of "residential real property."
1031 Exchange (Thursday, March 3)
This webinar provides a concise and thorough overview of IRC Section 1031 tax deferred exchanges for closing and title officers.
Please Release Me! (Wednesday, March 9)
This course will familiarize title insurance professionals with the importance of obtaining releases of enforceable outstanding liens, and alternatively, what other options may be available when a release is not obtainable to ensure compliance with Procedural Rule P-11.
Contract Dos and Don'ts (Wednesday, April 6)
Get an overview on recent contract changes, the importance of how the contract is/was completed by the Realtor and the title agent's role.