Dec 14, 2022
In This Issue:
- 88th Session of Texas Legislature Commences in 26 Days: New Lawmakers Get Oriented, Prefiling Continues
- Reminder: Informal Public Meeting With TDI Friday, Dec. 16 to Discuss Title Insurance Rulemaking
- FinCEN Hopes to Issue New Anti-money Laundering Regulations in 2023
- ALTA Responds to CFPB Request for Information Regarding Mortgage Refinances and Forbearances
- FHFA, CFPB Unveil Updated National Survey of Mortgage Originations Data
88th Session of Texas Legislature Commences in 26 Days: New Lawmakers Get Oriented, Prefiling Continues
TLTA | Dec. 14, 2022
New Legislators Get Oriented
When the Texas Legislature's 88th Session commences in 26 days, there will be 30 new legislators: 6 new senators (3 of whom were formerly state reps) and 24 new representatives. The Texas House held their new member orientation last week, and new lawmakers throughout the Capitol are getting office assignments, hiring staff, and preparing their legislative agendas.
Establishing and maintaining effective lines of communication with these new lawmakers is a top priority for your TLTA
PAC and advocacy team. When the new session commences in January, it will be important to make sure these new legislators hear our industry's story directly from the mouths of their constituents.
To that end, we hope you will review the list of new legislators below. If you live in one of these districts represented by new lawmakers, we hope you will join us for
TLTA's Day at the Texas Capitol Feb. 7-8.
Not sure which district is yours? Try this handy tool from Texas Legislature:
Who Represents Me?
New State Senators
District #
Name and Party Affiliation
New State Representatives
District #
Name and Party Affiliation
51
Maria Luisa Flores (D)
127
Charles Cunningham (R)
Prefiling Continues
Texas Legislature's 88th Session commences Jan. 10, 2023, and pre-filing of legislation for the session continues.
Since our last legislative update on Nov. 16, we've added one new bill to our
2023 bills of interest list. In addition to pursuing passage of our industry's affirmative legislative agenda—which will be approved by TLTA's Board of Directors in January—TLTA's legislative team reviews all bills filed during the session and monitors those that might impact our industry or the state's real estate marketplace.
We will maintain the bills of interest list throughout the legislative session, adding new bills of interest as they are filed. If these bills begin to move through the process and TLTA takes official positions on them, we’ll provide more detailed information about our stance and how they might affect you and your business.
Reminder: Informal Public Meeting With TDI Friday, Dec. 16 to Discuss Title Insurance Rulemaking
TLTA | Dec. 14, 2022
TDI has scheduled an informal public meeting regarding title insurance rulemaking this Friday, Dec. 16 at 9:30 a.m. TDI's regulatory team will be discussing their proposals, as well as industry supported proposals from TLTA.
It’s important to note that this is not a hearing, it's just an opportunity to explain the items and the background on each and answer questions anyone may have. These meetings are informal and offer all parties, as well as anyone form the public who is interested, a chance to participate in the process.
The goal is to work through any concerns in advance of a formal hearing. No formal hearing has been scheduled at this time.
Review TDI's Notice »
TLTA Editor's Note: Our regulatory team of staff and volunteer leaders will be representing the TLTA membership at this meeting by presenting TLTA’s proposed agenda items. We will provide a report in next week's Dateline and continue to provide updates as TDI works through their process. No formal hearing has been scheduled at this time.
FinCEN Hopes to Issue New Anti-money Laundering Regulations in 2023
ALTA | Dec. 8, 2022
FinCEN Acting Director Himamauli Das provided several updates on how the agency is protecting national security—including the potential for new anti-money laundering rulemakings in the coming year—during his keynote address during the ABA/ABA Financial Crimes Enforcement Conference.
In addition to efforts on beneficial ownership, Das said FinCEN also is taking action in other ways to support the Biden administration’s campaign to combat corruption and to advance the U.S. strategy on countering corruption.
Read More »
ALTA Responds to CFPB Request for Information Regarding Mortgage Refinances and Forbearances
ALTA | Dec. 6, 2022
ALTA recently submitted a letter in response to a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) on mortgage refinances and forbearances. The RFI focused on two issues:
Ways to facilitate mortgage refinances for consumers who would benefit from refinancing, especially consumers with smaller loan balances
Ways to reduce risks for consumers who experience disruptions in their financial situation that could interfere with their ability to remain current on their mortgage payments.
Read More »
FHFA, CFPB Unveil Updated National Survey of Mortgage Originations Data
DS News | Dec. 13, 2022
The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data also provide updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2020.
Read More »