Sept. 21, 2022

In This Issue:

  • TDI Issues Call for 2021 Agent Statistical Data; Responses Due No Later Than Nov. 7, 2022
  • Last Call: TREC Contract Change Proposal Would Prohibit Certain Attorney Advice; Comments Due Sept. 26
  • CFPB News
  • Registration for Texas Land Title Institute, Doc Prep 2022 Open Now

TDI Issues Call for 2021 Agent Statistical Data; Responses Due No Later Than Nov. 7, 2022

TLTA  | Sept. 21, 2022
The Texas Department of Insurance issued its call for agent statistical data to each agency in Texas in accordance with Texas Insurance Code §2703.153, which requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit certain data to TDI. TDI uses this data to set title insurance premium rates.
 
Please note that this call is for data collected during calendar year 2021. You must respond to this data call using the provided instructions and forms no later than Nov. 7, 2022.
  
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty - Actuarial by phone at 512-676-6687 or by email at [email protected]. 
 
TLTA Editor's Note: When this call was first issued last week, the notice incorrectly cited a December due date. TDI issued a revised notice on Wednesday that corrected the due date to Nov. 7. 
 

Last Call: TREC Contract Change Proposal Would Prohibit Certain Attorney Advice; Comments Due Sept. 26

TLTA  | Sept. 21, 2022
The Texas Real Estate Commission at its August meeting proposed a change in the One to Four Family Residential Contract. If the revision is adopted as proposed, some attorney advice would be prohibited.  
 
Review the change here (see page 6, chapter 11, special provisions).
  
You can comment on this proposed change, and other revisions recommended by TREC's Broker-Lawyer Committee, until September 26. 
 
If you have questions, you can contact TLTA's Director of Government Affairs and Counsel, Aaron Day. 

Review All TREC's Proposed Changes and Submit Comments »
 
  

CFPB News

CFPB Annual Report of 2021 Mortgage Market Activity Reveals an End to the Refinancing Boom and an Increase in Home Purchase Loans

CFPB | Sept. 19, 2022
 
The Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA). The report shows a shift from refinance loans in 2020 to home purchase loans in 2021, with a greater share of home purchase loans going to Asian, Black, and Hispanic white borrowers relative to the share of home purchase loans for non-Hispanic white borrowers.
  
Learn More »
 

CFPB Launches Effort to Spur New Opportunities for Homeowners in the Mortgage Market

TLTA  | Sept. 22 2022
 
The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support automatic short-term and long-term loss mitigation assistance for homeowners who experience financial disruptions. The CFPB will use this information as it considers steps to support household financial stability and address refinance market gaps. Today’s initiative is part of a broader CFPB effort to promote competition and innovation in consumer finance markets.
  
Learn More »
  

Registration for Texas Land Title Institute, Doc Prep 2022 Open Now

  

 
Texas Land Title Institute
Presented live Dec. 8-9, 2022
San Antonio
 
Designed for real estate attorneys, agency owners and advanced closers, the annual Texas Land Title Institute brings top title professionals to the beautiful Hyatt Regency Hill Country Resort for world-class training and networking. Institute is the go-to educational resource for advanced title professionals working to master some of our industry's most complicated challenges. 
 
Get up to speed on changes in the legal landscape
 
Network with our industry's top professionals
 
Complete continuing education hours
 
Register for Institute Now and Book a Hotel Room »
 
 
And don't miss our pre-Institute program
 
Title Insurance & Doc Prep:
Defining Issues and Closing the Deal
Presented live Dec. 7, 2022
San Antonio
 
Our popular Doc Prep program is designed to address title insurance questions that frequently arise in a closing and are presented to the lawyer representing a party. The speakers will address title insurance due diligence for the client and how to assure the best coverage and rates. Moreover, what if the insured does have a defect in title or an encumbrance – how should it be handled? Finally, this course provides an overview and practice tips for the preparation of legal documents to convey title, release encumbrances and cure title issues.
 
Register for Doc Prep Now »