Dec. 20, 2016
Texans for Free Enterprise Issues Press Release, Accuses Title Insurance System of Being "Anti-Consumer"
TLTA Team Prepared for Discussion During Upcoming Legislative Session
As TLTA reported last week in a Breaking News alert, a new special interest group has been formed called Texans for Free Enterprise. One of their primary stated goals is to “reform title insurance” in Texas.
In a press release, Doug Deason, chairman of the new group and a Dallas-based investor, outlines the group’s agenda and accuses our system of being "anti-consumer."
Clearly, TLTA strongly disagrees with the assertions made in this press release. Our Texas system has a long history of serving the consumers of Texas well with fair and transparent prices that are 15 percent lower than 25 years ago, a competitive marketplace that offers consumers multiple choices and access to title agents in virtually every county in Texas and, most importantly, a quality product that provides less risk to Texas consumers with one of the lowest claims rates in the nation.
The TLTA legislative team is well prepared for this discussion during the upcoming legislative session and looks forward to sharing the truth about our safe and stable Texas title insurance system.
Read Their Press Release »
TDI Adopts Amendments to 28 Texas Administrative Code Regarding Assessment of Maintenance Taxes for Underwriters
Texas Department of Insurance | Dec. 19, 2016
TDI has adopted amendments to the 28 Texas Administrative Code that address:
Section 1.414, concerning the 2017 assessment of maintenance taxes and fees imposed by the Texas Insurance Code
Section 7.1001, concerning the 2017 assessments to cover the expenses to examine domestic and foreign insurance companies and self-insurance groups providing workers’ compensation insurance
Staff conducted a stakeholder meeting Oct. 26, 2016, to discuss the proposed rates. Proposals for the updated rates were published in the Nov. 11 issue of the Texas Register, and these adopted amendments will be published in the Texas Register and on the TDI website.
Please note: This only affects title insurance underwriters and not agents.
Visit the TDI Proposed and Adopted Rules Page »
CFPB Takes Action Against Three Reverse Mortgage Companies, Including Two Texas-Based Companies, for Deceptive Advertising
Consumer Financial Protection Bureau | Dec. 7, 2016
The CFPB took action against three reverse mortgage companies – two of which are based in Texas – for deceptive advertisements, including claiming that consumers could not lose their homes. The CFPB is ordering American Advisors Group, Reverse Mortgage Solutions and Aegean Financial to cease deceptive advertising practices, implement systems to ensure they are complying with all laws and pay penalties.
Read More »
Moody's Report Suggests Privatizing Fannie Mae, Freddie Mac Would Cost "Hundreds of Billions"
HousingWire | Dec. 8, 2016
Long an idea left idling amid Congressional wrangling and governmental malaise, releasing Fannie Mae and Freddie Mac from conservatorship became a distinct and real possibility recently when Steve Mnuchin, president-elect Donald Trump's choice to lead the Department of the Treasury, said that "getting Fannie and Freddie out of government ownership" is one of the Trump administration's top ten priorities.
But just how realistic is privatizing Fannie and Freddie, in whatever form the Trump administration plans? And what will it take to get there?
According to a new report from Moody's Investors Service, privatizing the GSEs is not only unlikely to happen any time soon, it's also hugely cost-prohibitive, and it would be a negative for bond investors as well.
Read More »
State Insurance Commissioners Pick Aegon Executive as NAIC Chief
Reuters | Dec. 13, 2016
The National Association of Insurance Commissioners has elected Michael Consedine, senior vice president and global head of government and policy affairs at Aegon, as its chief executive officer effective in early 2017.
Read More »
Register Today for Day at the Capitol
Register and book your hotel room for the 2017 Day at the Capitol: Feb. 13 - 14!
With the threat of deregulation we are under, showing strength in numbers and having our voices heard at the Capitol is critical. Make sure your representatives understand our system and how crucial it is, and make a difference in the future of your business and your industry by being part of this important event.
Get ready to come to Austin to advocate for your industry. We plan to pack the halls of the Capitol with title professionals!
Sponsorship opportunities for Day at the Capitol are currently available. Contact Linda Timmons via email or 512.879.2880 for more information.
Register »
Book Your Hotel Room »
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TLTA is scheduling live webinars for spring 2017. Register now, or book your On-Demand version today!
Stop TRID-ing Water (Tuesday, Jan. 10)
We survived our first year of TRID! But even now, there are still wrinkles that need to be ironed out.
Claims (Wednesday, Jan. 25)
This webinar is designed to educate both title and escrow personnel about claims-handling procedures and agent responsibilities.
Credit Where Credit Is Due (Wednesday, Feb. 15)
More info on this webinar coming soon!