Oct. 19, 2016


TLTA Members Meet With Urban Recorders Alliance to Discuss Predictable Recording Fees Movement

On Friday, Sept. 23, TLTA was invited to participate in a round table discussion with members of the Urban Recorders Alliance, which is affiliated with the County and District Clerks' Association of Texas. TLTA was represented by TLTA Board member John P. Bruce, CTIP, NTP, Denise Holmes, CTIP and TLTA President-Elect J. Christopher Phillips along with Allen Place, TLTA Legislative Counsel.

The topic for discussion was predictable recording fees – fees that can be easily determined, sometimes referred to as flat fees, standardized fees or uniform fees. Recording fees in Texas can be confusing, with the costs varying based on the number of names cited in the document, the number of pages, the legibility of the document, the inclusion or absence of sufficient margins and more. This complex system of calculating recording fees presents a problem for the consumer, title companies and mortgage companies, especially since federal regulations penalize those who do not provide the consumer with an accurate representation of mortgage costs. Predictable recording fees are a way to narrow variances and insure a more accurate quote when consumers are provided their initial Closing Disclosure.

ALTA and the Property Records Industry Association have teamed up to establish predictable and standardized recording fees on a national basis. Currently, there are 10 states that have adopted a predictable recording fee structure, but moving to predictable fees in Texas would require a legislative change. This movement outside of Texas has gained the attention of TLTA and county clerks. In the weeks to come, open dialogue will continue between TLTA, the Urban Recorders Alliance and the County and District Clerks' Association of Texas in an effort to study this topic and explore the feasibility of a predictable recording fee structure in Texas.

TLTA Submits Letter to CFPB On Proposed TRID Changes

On Tuesday, Oct. 18, TLTA submitted a comment letter to the CFPB regarding their proposed TRID changes.
 
"We support the CFPB's efforts to review TRID periodically and provide a rule-making to make needed changes. We are pleased to comment on changes to TRID to improve the effectiveness of the rule, and we hope that you will continue to monitor TRID for possible changes in the future," wrote TLTA President James Dudley and TLTA Executive Vice President and CEO Leslie Midgley, CAE.
 
We encourage you to read the letter to see all the detailed suggestions made by TLTA, many of which were submitted by TLTA members over the last few months.
 
Read the Letter »

CFPB May Have Strong Grounds to Challenge Court Ruling

Mortgage Professional America | Oct. 14, 2016
Don’t get too comfortable with the recent court ruling that the structure of the CFPB is unconstitutional – because the agency may have strong grounds for challenging it.

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Institute On Track to Sell Out – Register Today!

The Texas Land Title Institute is just around the corner! This popular program sold out last year, and it's on track to sell out again this year. Register today!
 
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TLTA is lining up even more great webinars for the fall. Register for these today, or watch them as On-Demand Webinars!
  • Ethics: Things You Shouldn't Do (Thursday, Nov. 3)
  • Escrow Procedures (Thursday, Nov. 10)
  • Just Added: Due Dates, Do Dates and Checking It Out (Tuesday, Dec. 13)