Feb. 1, 2023

In This Issue:

• TDI Quarterly Audit Results Published
• 88th Texas Legislature: It's Not Too Late to Join Us for Day at the Capitol Next Week
• ICYMI: Texas AG Announces Inves­ti­ga­tion of Home Title Lock for Poten­tial­ly Mis­lead­ing Texas Consumers
• New Compliance Webinar Featuring TDI Staff: Completing the T-S1, T-S5, T-G.1, & Wind-Down Plan

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TDI Quarterly Audit Results Published

TLTA | Feb. 1, 2023
The following is a summary of recent TDI audits, violations and enforcement actions from September 2022 through November 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 1 Commissioner Order. As of this report, 18 cases remain active and under investigation.      
       
Compliance Audit Results: Below are TDI's most common audit findings for the quarter that ended in November 2022. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred:
 

Review Complete Quarterly Audit Report »
 

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88th Texas Legislature: It's Not Too Late to Join Us for Day at the Capitol Next Week

TLTA | Feb. 2, 2023
Winter weather is disrupting legislative activities in Austin this week. However, your TLTA advocacy team has continued to prepare with excitement for Day at the Capitol next week Feb. 7 - 9. It's not too late to join us!
 

It's Not Too Late to Register for Day at the Texas Capitol Feb. 7-9 

We sure could use your help! We're less than a week away from Day at the Texas Capitol in Austin, an important event, and we need more title folks to help us pack the halls of the Capitol and show our strength as an industry.
 
Why attend? As usual, there are already a number of bills filed that could adversely affect the way we do business, including several that would restrict foreign ownership of real estate and make closings very complicated. Plus, there are over 30 new legislators who don't know us or understand the importance of what we do, so we've got lots of relationship building and education to do!
 
Day at the Capitol is a perfect way to speak up for your industry. Plus, it's fun to join your industry peers and meet your legislators. If you can free time up in your schedule to join us, we would be grateful. 
 

 
It's Not Too Late to Register Now
Make Your Plan to Join Us Next Week!
 

ICYMI: Legislators File Bills Related to Foreign Ownership of Real Estate

You may recall that last session a bill was filed related to restricting foreign ownership of real estate. TLTA shared its concerns with the legislature about that bill. The issue has resurfaced this session with three bills already having been filed that could impact our industry when closing transactions involving foreign buyers:  
 
SB 552
SB 147
HB 1075
 
As foreign ownership of U.S. real estate continues to grow as a hot button political issue, we may see additional bills filed on this subject. TLTA's advocacy team will continue to monitor and work to address each of these.

Other Bills to Watch

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. 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. Review Current Bills to Watch List.
 

TLTA's Affirmative Legislative Agenda for 88th Session

The following proactive legislative agenda items were approved by TLTA's board, meaning TLTA staff and other industry advocates are directed to work with lawmakers to seek passage of legislation addressing our industry's priorities and concerns as follows:

1. Enhance the statute prohibiting Private Transfer Fee Covenants in Texas.
2. Allow for Remote Ink Notary (RIN) within the existing statutory Remote Online Notary (RON) framework.
3. Clarify that a deed conveying title into a trust (as opposed to the trustee of that trust) shall be deemed to be a conveyance into the trustee.

Please note that additional affirmative agenda items could be considered or approved during the session. Additionally, there are other bills that TLTA may support during the session via our work with allied housing trade organizations and other advocates for our state's real estate marketplace.
 
If you have questions about TLTA's affirmative agenda or other aspects of our industry's work at the Texas Legislature this session, please send your questions to TLTA Director of Government Affairs and Counsel, Aaron Day. 

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ICYMI: Texas AG Announces Inves­ti­ga­tion of Home Title Lock for Poten­tial­ly Mis­lead­ing Texas Consumers

Texas Attorney General | Jan. 24, 2023
Attorney General Paxton has announced an investigation of Home Title Lock for potentially violating the Texas Deceptive Trade Practices Act by misleading consumers with deceptive statements concerning the prevalence of home title theft and the need for Home Title Lock’s services.  
 
Learn More »
 
 

New Compliance Webinar Featuring TDI Staff: Completing the T-S1, T-S5, T-G.1, & Wind-Down Plan

TLTA | Jan. 30, 2023

New Compliance Webinar
Completing the T-S1, T-S5, T-G.1, and Wind Down Plan
1 hr Escrow

Featuring TDI staff answering questions live Feb. 16

Title Examinations requires several forms to be submitted to the Title Examinations section of the Texas Department of Insurance. This Completing Title Examinations Required Forms Webinar covers the four required forms that must be submitted to Title Examinations. This beginner webinar will cover each form and detail the requirements for each.
 
Register Now
 
Upon completion of this webinar, attendees will learn how to properly complete and submit:
 

• Title Agent’s Unencumbered Assets Certification (Form T-S1)
• Wind Down Plan
• Title Agent Certification of Agent’s Quarterly Tax Reports (Form T-S5)
• Policy Guaranty Fee Remittance Form (Form T-G1)
• This course will provide valuable information on the following course content:
• Title insurance law, rules, and regulations
• Management of the licensee’s title insurance business
• Duties and responsibilities of the title insurance agent

Presenter: 
Arturo Bustamante
Director, Financial Regulation Division – Title Examinations
Texas Department of Insurance
 
CE Credits:
1 hr Escrow
 
Webinar Rating:  (Beginner) 
Cost: $40 for TLTA members / $54 for non-members
 
Watch it live and ask the TDI presenter questions
Thursday, Feb. 16, 2023 
10:30 - 11:30 a.m.