March 16, 2016


TLTA Op-Ed and Letters to the Editor Respond to TAB/TPPF Press

Austin American-Statesman | March 2016
TLTA has responded to the Texas Association of Business and Texas Public Policy Foundation's opinion piece in the Austin American-Statesman calling for a file-and-use rate system for title insurance. TLTA submitted an opinion editorial piece by President Patti Bonner, which was published this week and highlights how the safe, secure title insurance system actually works.
 
"Our state leaders have chosen wise public policy in setting high standards that ensure a robust, stable and safe real estate economy," said Bonner. "By any measure, the Texas title insurance system works well for consumers. Over the past two and a half decades, Texas title insurance rates have actually decreased by about 15 percent, while the costs of other similar goods and services have increased."
 
TLTA would like to express thanks and gratitude to the members who have stepped forward and submitted letters to the editor in support of the title insurance system. Links to those letters are below.
 
Read the TLTA Opinion Piece »
Read David Hays' Letter to the Editor »
Read David Tandy's Letter to the Editor »
Read Brian Pitman's Letter to the Editor »
Read the TAB/TPPF Opinion Piece »

Sen. Bob Corker Writes Letter to CFPB Expressing TRID Concerns

American Land Title Association | March 14, 2016
Sen. Bob Corker from Tennessee recently sent a letter to the CFPB expressing concerns about TRID. In the letter, he cites customer confusion, liability being transferred to a third party and a lack of specificity as causes for his concern. He closes the letter with direct questions about what the CFPB plans to do to fix these problems.
 
TLTA would like to thank ALTA for linking to this letter and sharing this information with the title insurance community.
 
Download the Letter »

ABA Survey Quantifies TRID Costs, Delays

JD Supra Business Advisor | March 8, 2016
On March 1, the American Bankers Association published results of its 2016 TRID Survey. The survey aggregates data gathered between Feb. 1, 2016, and Feb. 17, 2016, from 548 of the ABA’s member banks. The survey questions focused on costs and related effects of TRID, which became effective in October 2015.
 
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CFPB Director: Mortgage Credit is “Still Too Tight, In My View”

DS News | March 9, 2016
CFPB director Richard Cordray called attention to the mortgage industry, particularly lenders, in a recent speech, where he highlighted some of the progress and pitfalls that the housing market faces.
 
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CBRE: Dallas-Fort Worth is the No. 3 Target Market for Real Estate Investors 

Dallas Business Journal | March 9, 2016
This could be a big year for real estate investors in the Americas, the majority of which intend to increase their property acquisitions in 2016. In turn, it could be a big year for Dallas-Fort Worth, with the region ranking as the No. 3 target market for investment.

With the region continuing to mature and Dallas-Fort Worth's economy continuing to diversify, it's no wonder the metro area is seeing investor interest, said Chris Hipps, managing director of CBRE's investor services.
 
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CFPB Releases Latest Supervisory Highlights Report 

American Land Title Association | March 10, 2016
In its latest Supervisory Highlights report, the CFPB shared recent supervisory observations in the areas of consumer reporting, debt collection, mortgage origination, remittances, student loan servicing and fair lending. One of the bureau’s goals is to provide information that enables industry participants to ensure their operations remain in compliance with federal consumer financial law. According to the CFPB, the reported findings reflect information obtained from supervisory activities completed during the period under review as captured in examination reports or supervisory letters.
 
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TLTA has live webinars on 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!

  • 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.
  • TRID – Six Months Later (Tuesday, April 19)  
    This webinar should help get you over your learning curve into smoother sailing!
  • Divorce, Division and Dissolution (Wednesday, May 4) 
    Learn all you need to know about this transaction of real estate, the title insurance implications involved and what items are parts of the process.