March 2, 2016


Update on Guaranty Fee: Applies to All Transactions Closed On or After April 1

Texas Land Title Association | March 2, 2016
TLTA has received clarification that the guaranty fee is due on the closing date, not the funding date, as was reported in the Feb. 17 edition of Dateline Austin. According to the Guaranty Fee Frequently Asked Questions (updated March 1, 2016), “The charging of the Guaranty Fee is determined by the closing date, or more specifically, the date the closing documents are signed. For example, if a transaction has closing documents signed in March, but the transaction does not fund until April, then no fee should be collected.”
 
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Recap on Texas Election Results: By the Numbers

Texas Land Title Association | March 2, 2016
Yesterday’s primary election saw a number of close races, leaving many Texas voters on the edges of their seats. TLTA has compiled a summary of the election results.
 
All members of the House Insurance Committee won reelection. This includes Reps. John Frullo (R), Sergio Muñoz, Jr. (D), Greg Bonnen (R), Bobby Guerra (D), Morgan Meyer (R), Dennis Paul (R), Kenneth Sheets (R), Hubert Vo (D) and Paul Workman (R). Rep. Sheets faces a general election race in November.
 
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TREC Agency Strategic Planning Listening Tour Dates Announced; TLTA Members Encouraged to Attend 

Texas Real Estate Commission | Feb. 18, 2016
The Texas Real Estate Commission and the Texas Appraiser Licensing & Certification Board are holding meetings around the state in March to receive input on TREC's 2017-2021 strategic plan. Some of the questions they may address relate to how they work with related service providers, such as title/escrow professionals. From their online survey of discussion questions:
  • What do we need to know about the work of other Real Estate service providers that affects TREC and our license holders?
  • Are there areas of synergy with other Texas agencies that we can leverage to better serve Texas consumers?
  • Are there current or pending regulations or policies that we could work with other agencies to influence?
  • How can we work together to ensure consumers of real estate related services are better informed?
TLTA encourages members to attend these meetings to help address these questions and provide informed opinions from experts working in the field.
 
Read the Press Release »
View the Entire Survey »

Google Shuttering Mortgage Comparison Tool 

HousingWire | Feb. 23, 2016
Exactly four months to the day after announcing that it was launching a mortgage comparison tool via its Compare service, multiple reports say Google is shutting down its entire Compare service in both the U.S. and the U.K.
 
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Ethics and contracts and liens – oh my! TLTA's upcoming live webinars are covering important topics you won't want to miss. Sign up today for a live or an On-Demand webinar, and check the webinars calendar regularly to see what's new!
  • 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.
  • The Ethical Title Professional (Thursday, March 24)
    This course is designed to help title professionals consider the ethical behavior in each and every dealing.
  • 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.