February 12, 2014
TLTA Guide to Prepare for New Minimum Capitalization Requirements
As part of the Commissioner's Rule Order issued late last year, new agent minimum capitalization requirements were put in place that will go into effect on July 3, 2014. TLTA has prepared this guide to help answer questions about the new requirement and help you navigate the changes so you can begin planning for your method of compliance for the new rule. If you'd like to learn more about the new agent solvency requirements, you can visit this page of our website, or you can purchase a recently recorded on-demand webinar
here. The webinar takes an in-depth look at the new requirements, and can help you sort out the various plans and reporting requirements. If you have any questions, please contact TLTA Government Affairs Director Aaron Day at
[email protected] or 512.472.6593.
CFPB Director Richard Cordray Falls Short of Victory on 'Jeopardy'
The Washington Post | Feb. 6, 2014
It was a valiant effort, but Consumer Financial Protection Bureau Director Richard Cordray lost Wednesday night on “Jeopardy.” Try as he did, the head of the watchdog agency just couldn’t take down aerospace consultant Tom Nosek, who won $7,201 in the “Battle of the Decades” tournament. “These are some of the very top players of all time, and ‘Jeopardy’ always asks tough questions, so it was a tremendous challenge that I greatly enjoyed,” Cordray said, in a statement.
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TLTA Ethics Courses Fulfill New TDI Requirement
As we've previously reported, escrow officers renewing their licenses must now have 1 hour of ethics continuing education credit to comply with new TDI requirements. TLTA is offering two courses — an online video recording called "Avoiding Ethical Dilemmas in Title Transactions" and an on-demand webinar called "The Ethical Title Professional". You can read more about these programs and purchase them on the TLTA website
here.
CFPB Begins Updating Home Mortgage Disclosure Act Regulations
The Consumer Financial Protection Bureau recently announced it will convene a Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to discuss revisions to rules and reporting requirements under the Home Mortgage Disclosure Act (HMDA). The SBREFA process is typically one of the final steps before the Bureau proposes a new rule. While only lenders are required to report HMDA data, the Bureau is considering a number of new data points mandated by Dodd-Frank that might require lenders to gather more information from title and settlement companies.
Read CFPB Press Release »
Live Webinar Tomorrow — Register Today!
Avoiding TDI Audit Violations: Compliance & Recent Changes
Thursday, Feb. 13 | 10:00 - 11:30 a.m.
Presented by: Robert York, TDIs Manager of Title Examinations
Brenda Nelson, Old Republic National Title Insurance Company
Ed Hill, Ed Hill & Company CPAs, LLC
Our panel of experts will walk you through the most common mistakes and violations discovered during TDI audits, address internal weaknesses that hinder the audit process and provide important guidance on how you can stay in compliance and be prepared for your next TDI audit. Attendees will be encouraged to submit questions prior to the webinar.
Learn More & Register »