July 29, 2015

TDI Quarterly Audit Results Published

The following is a summary of recent TDI audits, violations and enforcement actions from March 2015 through May 2015. Read TDI's complete summary of operations for the quarter or read the key statistics below.

Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. That means TDI conducted 79 audits in the quarter ending May 2015. 

Commissioner Orders & Active Cases: From March through May 2015, Commissioner David Mattax signed six orders resulting in fines or the revocation of escrow officer licenses. 49 cases remain active and under investigation. 

Compliance Audit Results: Below are TDI’s most common audit findings from March through May 2015. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred.  

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Cordray: Early Enforcement to be "Diagnostic and Corrective"

ABA Banking Journal | July 15, 2015
The Consumer Financial Protection Bureau (CFPB) on Thursday published the first in a new series of monthly reports that highlight key trends found in the complaints the consumers submit to the Bureau.

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FHA to Allow Changes to Settlement Certification Due to TRID

ALTA | July 23, 2015 
The Federal Housing Administration addressed changes settlement agents can make to the new settlement certification, which replaces the current addendum to the HUD-1, in a new FAQ document to its Single Family Housing Policy Handbook. The FHA's new handbook goes into effect Sept. 14, 2015.

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Appeals Court Revives Lawsuit Challenging CFPB's Constitutionality 

HousingWire | July 24, 2015
The D.C. Circuit court reopened Texas-based State National Bank of Big Spring's case against the CFPB, concluding it has legal standing to sue despite the fact that it is not directly supervised by the agency.

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How Title Insurance Works with Seller Financing

The Texas Association of REALTORS® | July 24, 2015
The Texas Association of Realtors recently published this blog on seller financing for its members: “My client is purchasing a property by means of seller financing. I know that lenders require a mortgagee, or lender, title insurance policy to protect the lender from any problems with the title, but would the buyer in this case still have to provide a mortgagee policy to the seller?”

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Make a Career Commitment

By making a contribution to the TLTAPAC every year that you are employed in the industry, you are showing others your commitment to a successful Texas title industry and helping keep our voice strong. Make a Career Commitment now by completing this form. 

As a Career Commitment contributor, you will be recognized prominently on the TLTAPAC website and receive special recognition at TLTA events. TLTA will send a contribution reminder each year and you can contact the TLTA office should you need to change your annual contribution amount.

Join these dedicated title professionals who have agreed to make an annual contribution to the TLTAPAC for the rest of their title industry career.

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Need Help with TDI’S Agent Experience Report? Don’t Miss TLTA'S Webinar on Filling it Out!

Wednesday, July 29, 2015 | 10:00-11:30 a.m.
Join our experts as they walk you through the Texas Title Insurance Agent Experience Report while providing a clear, basic overview of the information you need during TLTA’s On-Time & Error-Free TDI Experience Reporting Webinar, 10-11:30 a.m. on Wednesday July 29. Click here for more information.

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