Oct. 5, 2016
ALTA Consumer Survey Shows 40 Percent Confused by Title Fee Calculation on Closing Disclosure
Digital Journal | Sept. 28, 2016
Over 40 percent of American homebuyers feel taken advantage of or are confused by the calculation of title insurance fees on the CFPB's new mortgage disclosures, according to a new study by ALTA.
ALTA's survey, which polled 2,000 current and prospective homeowners (planning to buy within the next year), revealed that homeowners find the CFPB's new mortgage disclosures confusing or deceiving.
The survey found that over 30 percent of homebuyers find the new Closing Disclosure confusing. More troubling, another 10 percent of homebuyers feel taken advantage of when reviewing the current calculation of an owner's title insurance policy on the Closing Disclosure.
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Here's How the New Overtime Labor Law Will Change the Housing Industry
HousingWire | Sept. 27, 2016
In summary, the Wage and Hour Division of the Department of Labor finalized the Fair Labor Standards Act on May 23, 2016, which goes into effect on Dec. 1, 2016, barring moves to delay its implementation. This law “guarantees a minimum wage for all hours worked during the workweek and overtime premium pay of not less than one and one-half times the employee's regular rate of pay for hours worked over 40 in a workweek.”
Here are the major changes in a nutshell that help give a rough answer on if these changes apply to you.
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CFPB Surpasses 1 Million Complaints Handled
The M Report | Sept. 27, 2016
Slightly more than five years after opening its doors in July 2011, the CFPB has handled more than 1 million complaints.
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Don't Miss the HOP Workshop at Institute!
How to Grow Your Business With the Homebuyer Outreach Program, a new pre-Institute program, will feature Wayne Stanley, Director of Public Affairs at ALTA, as well as Jack Rattikin, III, ALTA board member and TLTA member. This highly interactive workshop will show you and your staff how to:
Communicate the benefits of title insurance more effectively
Reach more homebuyers, real estate agents and lenders using customized outreach materials
Reduce costs by learning advertising best practices and pitfalls
Measure the results of your outreach to homebuyers
Don't miss this workshop on Wednesday, Dec. 7, from 1 - 5:15 p.m. at the Hyatt Regency Hill Country Resort and Spa!
Learn More About the Texas Land Title Institute »
Learn More About This Pre-Institute Workshop »
Register for This Pre-Institute Workshop »
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)