March 11, 2015
TLTA Issues Statement Designed to Enhance Your ALTA Best Practices Compliance Package
TLTA’s goal is to provide you with the best tools and resources that you need in this ever changing marketplace. As you know, as a result of increased regulatory oversight by CFPB and other banking regulators, lenders have increased their requirements on settlement agents. As a result, ALTA has created a set of Best Practices that can help you demonstrate to lenders that you are doing what is needed to keep transactions safe and secure.
To assist you in preparing your Best Practices Compliance package, TLTA is providing the folllowing statement that you can use in your ALTA Best Practices Compliance Materials. We hope this will be a helpful tool to you.
“Texas Title Insurance has a long history of extensive regulatory safeguards that protect the real estate transaction. We take pride in that system and the stability and security it has provided over the years. The ALTA Best Practices program provides Texas title agents with a way to not only demonstrate they are compliant with those Texas Department of Insurance regulations, but also to highlight the additional ways their companies are making the transaction safe, secure and efficient,” Texas Land Title Association.
TLTA recently presented a seminar on Best Practices entitled,
“Understanding and Complying with Best Practices." It is available in our on demand library.
ALTA Warns New CFPB Forms Could Confuse Consumers
M Report | March 3, 2015
The American Land Title Association issued a stated to the Consumer Financial Protection Bureau stating the new forms have major problems and will likely cause confusion for people. ALTA warns the new forms will be misleading for consumers.
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House Committee Grills Cordray on QM, Mortgage Regulations
Housingwire | March 3, 2015
Consumer Financial Protection Bureau Director Richard Corday spoke before the House of Financial Services Committee last week for his semi-annual report to Congress. Committee Chairman Jeb Hensarling, R-Texas, openly criticized the CFPB for being unaccountable.
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GOP Bill Would Overhaul Consumer Agency
The Hill | March 3, 2015
Republicans are ramping up efforts to overahaul the Consumer Financial Protection Bureau. Republicans warn the agency needs more regulation and transparency. Texas Representative Randy Neugebauer announced plans to introduce legislation that would replace the agency's director with a bi-partisan, five member commission appointed by the president.
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New Options for Ordering Basic Manual
It’s the age old question – boxers or briefs, white & gold or blue & black, Basic Manual print or online? Some prefer the print version of the Basic Manual, some like the online version. TLTA has the answer – you can now order the Basic Manual print or online version, both of which come with email updates whenever they are made, or you can order both!
Click Here and decide which version you want.
Fannie, Freddie Recapitalization Rejected
Street Insider | March 5, 2015
Fannie Mae and Freddie Mac will not be able to recapitalize. A treasury Official stated that the Obama Administration thinks Fannie and Freddie should wind down mortgage investment portfolios more quickly.
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Class Filling Up Fast! Sign Up Today for TILA/RESPA Training
TLTA is proud to announce it will be holding its third TILA/RESPA Training session in Houston on March 24th as part of the Readiness Training Series that began in Dallas and continued in Austin last month. Both the Austin and Dallas were near sell outs.
This class will give you the tools you need to prepare for and implement the necessary changes in your operation required by CFPB. Providing a more in-depth discussion than has previously been offered, this program will feature a detailed line-by-line walk-through of the new forms, a look at the changing roles and responsibilities of settlement agents and lenders, and a review of the new timelines for transactions.
Don't miss out seats will go fast!
Register Today!
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