August 10, 2022

In This Issue:

  • TDI News
  • Fannie Mae to Accept Lender-Funded Down Payment Assistance
  • ICYMI: Texas Workgroup on Blockchain Matters to Meet Aug. 19
  • New Escrow Ethics Webinar Available and Other CE Hours

TDI News

ADVOCACY UPDATE: TLTA and TDI Quarterly Meeting Held Aug. 9

TLTA | Aug. 10, 2022
 
TLTA and TDI staff met Tuesday, Aug. 9, for our quarterly meeting. Compliance issues and timing of an upcoming rule hearing were among the top issues discussed. Keep an eye out in coming weeks for compliance updates we will distribute in response to TDI concerns. And, as soon as we know more about the TDI rule hearing expected to be held this fall, we'll share that info with you here in Dateline.
 
If you have questions about TLTA's ongoing advocacy efforts with our industry's regulators, you can share your questions with us here.
 

TDI Warns Texas Consumers of Scammer Posing as TDI Employee

TLTA | Aug. 3, 2022
 
TDI issued a statement this week warning Texas consumers of a scammer claiming to be a TDI employee. While your team at TLTA has heard no reports of this scam involving title insurance or title professionals, we wanted to make you aware, in case you're asked about TDI's notice. As always, if you encounter a scammer invoking our regulator's name, please be sure to report it to TDI as described in this notice:

Read TDI's Notice »
 
 

ICYMI: TDI Published Quarterly Audit Results

TLTA | Aug. 3, 2022
 
The following is a summary of recent TDI audits, violations and enforcement actions from March 2021 through May 2022. Read TDI's complete summary of operations for the quarter, or review key statistics below.        
      
Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. This quarter, TDI conducted 67 audits.      
       
Commissioner Orders: This quarter, TDI signed no Commissioner Orders. As of this report, 6 cases remain active and under investigation.      
       
Compliance Audit Results: Below are TDI's most common audit findings for the quarter that ended in May 2022. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred:
 
Number of Agencies
Category
Description
51
Abstract Plant
Section 2702.053 - Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed.
37
Procedural Rules
P-21: Schedule D of commitment not in file or premium split not disclosed on 90 commitment.
32
Escrow Accounting
Outstanding checks not cleared timely.
31
Minimum Escrow Accounting Procedures & Internal Controls
#16 - Every disbursement not supported by invoice or sufficient other evidence


Review Complete Quarterly Audit Report »
 

Fannie Mae to Accept Lender-Funded Down Payment Assistance

HousingWire  | Aug. 4, 2022
Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves.
 
The change could give nonbank lenders a way to guard against redlining accusations.

The government-sponsored enterprise will start accepting such loans immediately. According to Fannie Mae’s guidance, “The lender must have a documented program that provides grants for low- to moderate-income borrowers, community development, equitable housing initiatives, or similar initiatives.”
 
Read More »
Review Fannie's New Guidance »
 

ICYMI: Texas Workgroup on Blockchain Matters to Meet Aug. 19

TLTA | Aug. 3, 2022
The 87th Texas Legislature created the Texas Work Group on Blockchain Matters via passage of HB 1576 last year. The workgroup has scheduled a meeting Aug. 19.
 
The work group is charged with developing a master plan to promote expansion of the blockchain industry in Texas. The master plan must be submitted to certain legislative committees of the Senate and House of Representatives no later than October 31, 2022.
 
Your legislative team at TLTA continues monitoring this group's work and will report if we see any acitivity activity impacting the real estate industry or when we know more about any changes the group may propose. 
 
Review the Meeting Notice »
 
TLTA Editor's Note: Monitoring the blockchain workgroup is just one of the many activities in which TLTA staff and advocates are engaged at the Texas Capitol. Learn more about our work during the legislative interim in the Texas Legislature Update we shared in a recent edition of Dateline.  

New Escrow Ethics Webinar Available, and Other CE Hours You Don't Want to Miss

Ethics: Walking the Tight Rope of Neutrality

1hr Escrow Ethics Credit
On-demand webinar available now
Learn more and register now »
 

Evolving Cybersecurity - How to Protect Your Company and Customers

1 hr Escrow Credit, 1 hr MCLE Credit
Webinar presented live Aug. 18 with opportunity to ask questions of presenter
Learn more and register now »
 

Texas Real Estate Market Forecast: What's Ahead?

1 hr Escrow Credit
On-demand webinar available now
Learn more and register now » 

Don't see what you're looking for in the list above? TLTA maintains a library of more than 80 On-Demand webinars and videos  covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends!