October 22, 2014

---

Important Minimum Capitalization Compliance Deadline Approaching 

As a reminder, November 1 is an important deadline for the new agent minimum capitalization requirements. The rules vary depending on the length of time your agency has been licensed, so read below to see what the requirements are for your company.

For newer agents who were licensed after September 1, 2010, the regulation states that you must attain 100% capitalization by July 3, 2014 (S.1,II.D.). This deadline is waived if you establish the special solvency account, in which case your first quarterly installments will be due by November 1, 2014. 

If your company was licensed before September 1, 2010, you must have your required levels of minimum capitalization in place, based on the graduated timelines, in whichever form you select according to the multiple options available in the rule, by November 1, 2014. The exception is if you choose the option of establishing a special solvency account, and in that case, the specific amounts are waived and your first quarterly installments into the special solvency account will also be due by November 1, 2014.

TLTA has prepared this guide to help answer questions about the new requirement and help you navigate the changes so you can make sure your are in compliance. 

The guide includes:

    The amount of unencumbered assets you must maintain
    How much time you have to comply
    How to provide notification to TDI that you are complying
    Copies of the new minimum capitalization rules and relevant forms
We also have an in depth webinar on this topic available in our On Demand Library, entitled, Minimum Capitalization: What Agents Should Know. 

Click Here to Register

Mortgage Lending Regulation Compliance Costs Up 30%

Housingwire | October 15, 2014

A Mortgage Lender Sentiment Survey conducted by Fannie Mae reports that compliance costs are up an average of 30% compared to this time last year. Senior mortgage executives say compliance risk is the top area of focus this year. For more on the survey results Click Here.

Mel Watt and Julian Castro Announce Housing Policy Changes

Housingwire | October 20, 2014

Federal Housing Finance Agency Director Mel Watt and U.S Secretary of Housing and Urban Development Julian Castro outlined changes Monday, that they say will reduce the risk to mortgage lenders. The banking industries' fear of being saddled with a defaulted loan has been a major hurdle for first time homebuyers. This plan outlines a plan to help reduce repurchases.   

Read More »

Fed Officials Ready to Slow Tightening If World Growth Disappoints

Bloomberg | October 11, 2014

Federal Reserve officials may delay an interest-rate increase due to a slowdown in foreign growth. This comes as a precaution since there is concern about how an improving U.S economy and strengthening dollar will react to foreign weakness. A strengthening dollar along with a weak foreign economy can hurt exports and dampen inflation. 

Read More»

Save The Date: TLTA Day at the Capitol 

February 2-3, 2015

Mark your calendar now and plan to join us for the biennial TLTA Day at the Capitol. This is your chance to speak directly with your legislators about the issues that impact the title industry and ultimately your bottom line. The program includes an orientation to the issues and preparation for legislative visits, a networking dinner with industry colleagues, a breakfast with a special presentation by a legislator and meetings at the Capitol with your elected officials. This is a unique opportunity to help your industry and be a part of government in action.  

Below is a tentative schedule and registration information will be coming soon:

Monday February 2, 2015
3-5 pm Orientation and Briefing
6 pm Networking Reception and Dinner

Tuesday February 3, 2015  
8-9 am Breakfast with Legislator Guest Speaker
10-4 pm Legislator Visits at the Capitol 

Upcoming Hot Topic Webinars

Surveys - Don't Be Out of Bounds
Wednesday, November 5 | 10:30 - 11:30 a.m. CST
Presented by:
Bobby Stovall, RPLS, Stovall & Associates Land Surveying and Kincy Abstract & Sabine Title Co.
Live Version | On-Demand Version

Bankruptcy - A Title Insurance Perspective
Tuesday, November 11 | 10:30 - 11:30 a.m. CST
Presented by:
Lindley (Lin) A. Brasier, Senior Vice President and Regional Counsel, Alliant National Title Insurance Company
Live Version | On-Demand Version

CFPB Integrated Mortgage Disclosures: Only 9 Months Away! 
Thursday, November 13 | 10:00 - 11:30 a.m. CST
Presented by:
Celia C. Flowers, Attorney, Flowers Davis, PLLC, East Texas Title Companies
Janet S. Minke, CTIA, Vice-President, Underwriting Support Services, Alliant National Title Insurance Company
Thomas F. Vetters, III, Attorney, Robertson Anschutz Vetters, Attorneys at Law
Leslie Wyatt, Director of Industry Relations, SoftPro
Live Version | On-Demand Version