April 22, 2015
TDI's Call for Statistical Data will be Delayed
The Texas Department of Insurance (TDI) typically sends out the call for the Title Insurance Experience Report to title agents and underwriters about this time each year. TDI has notified us that they anticipate this year’s call for statistical data will be delayed at least 30 days. TLTA will continue to keep you updated about the timing of this year’s data call.
ALTA President's Congressional Testimony Calls for Three Regulatory Reforms
ALTA President Diane Evans testified before the Financial Institutions and Consumer Credit subcommittee of the House Committee on Financial Services. During the hearing titled “Examining Regulatory Burdens on Non-Depository Financial Institutions,” Evans highlighted three regulatory reforms that will benefit businesses and consumers.
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CFPB Files Class-Action Suit in Texas Against Tax-Lien Lenders
The Consumer Financial Protection Bureau is arguing that certain loans offered to homeowners to help pay off their property taxes fall under federal consumer protection laws and should come with certain disclosures about their costs, according to a brief the agency filed in a class-action case in Texas.
Read more here
Sign Up for the TDI Title Insurance Newsletter
TDI has a newsletter just for the title insurance industry in Texas. This eNews for Title Insurance will be published periodically when there is important information to be communicated. TDI will be sending out some important updates soon and we want to make sure you receive it. The only way to receive the newsletter is to sign up for it on the TDI website, so we urge you to
register here to make sure you are receiving information from TDI. Please spread the word and encourage others in your company to sign up as well.
Fannie Mae Launches Program to Assist First-Time Buyers with Closing Costs
The M Report | April 14, 2015
Fannie Mae has announced the launch of the
Homepath Ready Buyer program. The program allows qualifying homebuyers to receive up to 3% of the home's price in closing cost assistance toward the purchase of a HomePath Property. This calculates to be approximately $4,500 in savings for a buyer on a $150,000 home.
Read More »
House Passes Mortgage Choice Act of 2015 by 286-140
Housingwire | April 14, 2015
A bill to reform mortgage industry regulations was approved by the House of Representatives last week. The Mortgage Choice Act of 2015 would amend the qualified mortgage definition in the Dodd-Frank Wall Street Reform and Consumer Protection Act. This would in turn provide more access to mortgages for low and moderate income buyers, while still protecting consumers from bad loans.
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New, Simpler Mortgage Disclosure Forms Could Delay Closings
Realtor.com | April 20, 2015
The Dodd-Frank Act of 2010 forced the Consumer Financial Protection Bureau to make those disclosure forms, which are meant to explain the conditions of the mortgage and the closing costs, more consumer-friendly. The agency unveiled the results last month, saying the new forms would go into effect on Aug. 1. But real estate pros now say they’re concerned that the simpler forms, which must be provided on a tighter timeline than before, might actually slow down closings—at least initially.
Read More »
Survey: Mortgage Lenders Woefully Underprepared for TILA-RESPA
Housingwire | April 15, 2015
41% of mortgage lenders reported they are not ready or prepared to meet the August 2015 deadline to comply with the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule. The results came from a survey conducted by Capsilon Corp. at the recent Mortgage Bankers Association's National Technology in Mortgage Banking Conference and Expo 2015.
Read More »
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 Part 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!
Escheating in Texas
May 14, 2015 1:30-2:30 p.m.
During this webinar attendees will learn the historical background for escheat laws, current statutory references and applicable Texas Department of Insurance regulations, the time frames for reporting to the state, penalties for late filings, how the depositor gets the money from the state, when is last contact, and the importance to the integrity of the title industry of properly and promptly handling escheat matters.
Register for live webinar »
Register for On Demand webinar »
Nominate Someone to Serve on the TLTAPAC Board of Trustees
The TLTAPAC
Board of Trustees is accepting nominations for 2015-2016. If you have an interest in serving a 3 year term on the board or know someone who would make a good trustee please fill out
this form no later than this Friday, April 24th.
We need folks who are committed to our cause of continuing to enhance the title industry's political influence at the Capitol and who can help us educated TLTA members on the importance of investing in the PAC. TLTAPAC Trustees raise and disburse funds to achieve the governmental affairs objectives of TLTA. They are responsible for educating other industry members in their areas of the state about TLTAPAC and encouraging investments and participation at the grassroots level.
Make a nomination »
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.