April 1, 2015
House Hears Escrow Officer Licensing Bill
Last week, the House Insurance Committee heard H.B.2491 by Chairman Pickett. The bill amends the statute to allow for the direct licensing of escrow officers. However, in order to use their license the escrow officer would be required to have an appointment from a title agent or direct operation. This proposal is designed to help the Texas Department of Insurance increase its efficiency in issuing and managing escrow officer licenses.
TLTA has worked closely with TDI to address potential unintended consequences and insure that the agent has access to all the necessary information relating to the license to monitor all compliance issues.
The bill that was heard this week was not the version that will be passed from the committee. We will share with you the revised bill that incorporates TLTA feedback once it becomes available.
The Committee also heard HB1357 addressing single risk limits and re-insurance for title insurance. Margaret Redman from First American Title Insurance Company testified for H.B.1357, which was championed by Stewart Title and discussed and negotiated among the Underwriter Section of TLTA. The TLTA Board has voted to support this bill.
Legislative Session Recap
We are now 79 days into the legislative session with 61 more days to go.
956 bills have been heard in a House committee
395 bills have been heard in a Senate committee
13 Bills taken up on the House floor
38 Bills taken up on the Senate Floor
Watch Dateline for more updates from the legislative session.
Advice from Texas Association of Realtors for TItle & Mortgage Companies
The following is a blog post the Texas Association of Realtors recently sent to their members.
A Mortgage Company wants to sponsor a luncheon for my brokerage. Is that OK?
Q: Can a brokerage allow a mortgage company to sponsor a luncheon that offers CE for its agents?
A: It depends. A mortgage company or title company sponsoring an educational event to promote its services can do so as long as the cost associated with the event doesn’t cover any of the agents’ other expenses they would otherwise have to pay, such as the cost of the CE credit.
The mortgage company can’t sponsor the luncheon on the condition that it will receive referrals, either. And the company must promote its services during the event to qualify for the Real Estate Settlement Procedures Act (RESPA) advertising exemption.
CFPB: No Concrete Plans to Extend TRID
Housingwire | March 25, 2015
The Consumer Financial Protection Bureau has confirmed it has no plans to extend the August 1 deadline for the new TILA/RESPA Integrated Disclosure Rule.
Read More>>
Lenders Still Hopeful for CFPB Disclosure Delay
National Mortgage News | March 31, 2015
If the mortgage lenders can't get the Consumer Financial Protection Bureau to extend its planned August 1st integrated disclosures implementation deadline, industry professionals are at least hoping for leniency while they adjust to the new process.
Read More>>
Sideline Assistance Aimed at Integrated Disclosures
Insurancenewsnet.com | March 30, 2015
With just a few months left until the new integrated disclosures go into effect industry associations are stepping in to ensure a smooth transition for their members.
Read More>>
CFPB Releases Home Loan Toolkit
The Consumer Financial Protection Bureau released "Your Home Loan Toolkit," a consumer guide that will replace the current Settlement Cost booklent when the TILA-RESPA Integrated Disclosures go into effect on August 1, 2015.
You can download the toolkit
here.
Find out more about the new Toolkit by reading the CFPB press release
here.
Administration Names HUD Senior Adviser as New Leader of FHA
DS News | March 26, 2015
According to the U.S. Department of Housing and Urban Development Biniam Gebre will be stepping down from his role as acting commissioner of FHA. HUD officials say Edward Golding, a senior adviser at HUD, has been named by the White House as the new leader of the Federal Housing Administration (FHA).
Read More>>
Legislation to Make CFPB, Dodd-Frank Subject to 10 Year Review
MReport | March 27, 2015
Legislation was introduced that would mean the CFPB would be subject to a new regulatory process. The bill was brought forward by Senator Mike Crapo (R-Idaho). The bill would make the CFPB eligible for review under the 10 year regulatory review.
Read More>>
Updates Expected to the Basic Manual
Is your Basic Manual subscription current? TLTA expects several updates to the Basic Manual in the coming months, including the addition of the important new Texas Disclosure required to be used with CFPB's new Closing Disclosure. Only subscribers will receive these updates, so sign up or renew now to ensure you are in compliance with the latest regulations.
NEW THIS YEAR you have the option to order the print version of the Basic Manual subscription, the online version, or a package that includes both. All versions come with updates, so choose the option that works best for you.
Don't delay.
Click here for an order form and subscribe today to make sure you don't miss these pending updates.
Curious about the online version? Here are some satisfied subscribers.
Dust Off Your Clubs - It's Time for The Bert Massey Classic TLTAPAC Golf Tournament!
Register now for TLTA’s Annual Conference & Business Meeting June 18-20 in Grapevine and join us on Thursday, June 18 for the
Bert Massey Classic TLTAPAC Golf Tournament. Avid golfers and amateurs alike are invited for a morning of golf and networking followed by an awards ceremony and lunch on the lawn. Your registration fee includes green fee, golf cart, refreshments on the course and the Awards Luncheon.
You do not want to miss your chance to play at the world’s only NFL themed golf club! Read more about the course
here.
Don't want to play in the tournament, but still want to support the TLTAPAC? Select the
Pay NOT to Play option at registration, pay the regular golf tournament registration fee and join the golfers for the Awards Luncheon after the tournament. You'll also receive an 'I Paid NOT to Play' PAC ribbon to proudly display on your name badge.
Can’t join us for the Conference?
There are plenty of other ways to back the PAC – there are a few tournament holes left that are available for
sponsorship, or consider making a
corporate contribution. With help from corporate contributions, the
TLTAPAC is able to raise record amounts of personal contributions, allowing us to make campaign contributions to 100% of the members of the Texas Legislature.
View Conference Schedule |
Register Online |
Reserve Your Room
Why Earn a Professional Certification?
As you know, lenders and their regulators are asking title agents to meet certain new standards. Becoming part of the elite group of Texas certified professionals is an ideal way to set you and your company apart in this new competitive environment!
April 8th Deadline for Austin Exam
Apply Now
Who Should Apply?
If you've been in the industry for several years, you likely have the experience to take the exam.
See the
application for more information about the requirements.
Sign Up Today for TLTA South Texas Seminar on April 11th
NEW THIS YEAR: TLTA is bringing two hot topic sessions to McAllen on Saturday, April 11. Choose between the
TILA/RESPA Readiness Training Session to get you ready for the new regulations going into effect in August or pick the
Endorsements,
Exclusions & Examination Session, perfect for plant and policy personnel!
Click Here for more info.
Register Today!
Registration Is Now Open For the TLTA Annual Conference and Business Meeting!
Review the tentative
schedule,
get registered and
make your hotel reservation today.
Register by April 30 to be eligible for free conference registration drawing
Register now to save money
NEW THIS YEAR! Optional Pre-Conference program scheduled for June 17 at the Gaylord:
TLTA TRID Readiness Series Phase II
Hands-On, How-To Workshop that will take you through the new Closing Disclosure using case studies. Grab a calculator and a pencil and plan to join us!
10am-4pm includes lunch
Click here for Pre-Conference Program
Register Today!
Avoiding TDI Audit Violations: A Focus On Everyday Compliance
Thursday, April 9
Presenters:
Robert York - Texas Department of Insurance; Manager of Title Examinations
Brenda Nelson - Old Republic National Title Insurance Company
Nancy Waggoner - Republic Title of Texas
Register Today!