Sept. 28, 2016
TAB Removes Title Insurance From Legislative Priorities; Battle Far From Over
Texas Land Title Association | Sept. 28, 2016
Last Friday, the Texas Association of Business (TAB) Board of Directors voted overwhelmingly to remove "Title Insurance Reform" from their 2017 legislative agenda.
TLTA was given the opportunity to present our case to the 172-person TAB Board. After a short presentation and discussion on both sides of the issue, a motion was made by El Paso Chamber President and CEO Richard Dayoub, speaking on behalf of other Chambers of Commerce, that the item be removed from TAB's legislative agenda. A voice vote was taken and the motion passed by a large majority.
TAB has a strong presence and reputation at the Capitol, and having them withdraw from this challenge is a huge positive development and we are very encouraged by it. However, this battle is far from over. We will continue full force with our multi-pronged strategy to defeat these efforts to dismantle our title system and continue to educate decision-makers about title insurance and the successful Texas system. We will continue to need all of you engaged and involved in the battle. TLTA thanks all members for their active involvement in this issue.
For a more detailed analysis, please read TLTA's Members-Only message sent on Sept. 26.
Final Reminder: Agent Statistical Data Reports and T-S1 Forms Due Sept. 30
Texas Department of Insurance | Sept. 28, 2016
This is your final reminder reminder that Agent Statistical Data reports are due to TDI by Friday, Sept. 30. TDI sent its call for Agent Statistical Data on Aug. 10. You must respond to this data call using the provided instructions and forms no later than Sept. 30. Complete the data call using the interactive PDF forms available at
www.tdi.texas.gov/bulletins/index.html.
Read the Aug. 12 Compliance Update on the Agent Statistical Data Call »
In addition, the T-S1 – also known as the Title Agent's Unencumbered Assets Certification – is due to TDI's Title Examinations Department by Sept. 30. All title agents, including direct operations, are required to turn in a new T-S1 form every year between Sept. 1 - 30.
TDI has requested that you submit your T-S1 form by email to
[email protected]. Questions can be directed to the Title Examinations Department at the above email address, to Arturo Bustamante at
[email protected] or to Robert York or Becky Humphreys at 512.676.6880.
Download the Title Agent's Unencumbered Assets Certification (Form T-S1) »
Read the Sept. 19 Compliance Update on the T-S1 Form »
ALTA Board Approves Final Changes to Best Practices
American Land Title Association | Sept. 27, 2016
On Sept. 19, ALTA's Board of Governors approved final revisions to the association's Title Insurance and Settlement Company Best Practices and the Best Practices Assessment Procedures. The Board also approved the adoption of a new assessment reporting tool, the Best Practices Maturity Model.
The revised Best Practices and Maturity Model go into effect Oct. 7.
Read More »
The New Normal: Time to Close Settles at 46 Days
HousingWire | Sept. 22, 2016
After rising, falling and rising again in the wake of the implementation of the CFPB's TRID rule, the time to close a mortgage loan appears to finally be settling into a new normal – about a month and a half.
Read More »
Mortgage Fraud Rising Most in Low Down Payment Loans
HousingWire | Sept. 22, 2016
Mortgage fraud is slightly on the rise right now, so it’s an area industry experts say needs a close watch.>
As it stands, CoreLogic’s Mortgage Fraud Report showed a 3.9 percent year-over-year increase in fraud risk, as of the end of the second quarter of 2016.
Read More »
TLTA is lining up even more great webinars for the fall. Register for these today, or watch them as On-Demand Webinars!
CFPB, TRID and RESPA (Wednesday, Oct. 12)
Please Release Me, Part 2 (Tuesday, Oct. 18)
Escrow Procedures (Thursday, Nov. 10)