August 26, 2015
TREC Seeks Comments on Proposed Contract Amendments
The Texas Real Estate Commission (TREC) met on Monday, August 17 to discuss proposed contract revisions, non-emergency revisions and revisions relating to TRID. The Broker-Lawyer Committee recommended that the changes be adopted on an emergency basis, but the agency decided instead to submit proposed contract amendments to the Texas Register for publication and public comment. We encourage all TLTA members to review these contract amendments and send comments to us at
[email protected].
Click here to read all the proposed changes.
Click here to read the meeting’s full agenda.
Opting Against Title Insurance to Save Money Can Be Risky
Washington Post | August 19, 2015
If someone wants to sell a house to a relative, is title insurance really necessary, especially if the seller and buyer are on a fixed income?
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Disclosure Rules Expected to Delay Mortgage Process
Boston Globe | August 19, 2015
New federal disclosure rules designed to simplify the financial reporting involved in purchasing homes and give buyers more time to understand mortgage documents could also trigger delays in closings as real estate agents, lenders, title companies and lawyers shift how they handle loans.
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Community Lenders Warn CFPB on TRID "Black Hole"
HousingWire | August 19, 2015
The Community Home Lenders Association is calling on the CFPB to address a potential “black hole” for lenders that could arise when TRID takes effect on Oct. 3. A change in in circumstances like the borrower needing to push the closing date could place lenders between a rock and a hard place.
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Marketing Services Agreements
National Mortgage Professional Magazine | August 20, 2015
In recent months there has been much discussion over the legality of Marketing Services Agreements (MSAs). This is primarily due to recent enforcement actions by the CFPB involving MSAs and alleged illegal kickbacks. Mortgage and real estate professionals interested in entering into or continuing MSA relationships must act prudently and maintain a compliant MSA program that monitors all aspects of the MSA relationship.
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Register Now for the 25th Anniversary Texas Land Title Institute
We look forward to seeing you at the Texas Land Title Institute from December 3-4, 2015, at the Hyatt Regency Hill Country Resort & Spa in San Antonio!
Early Registration Now Available
Book Your Hotel Room
Don't miss the optional Pre-Institute Program!
Title Insurance & Doc Prep Basics: An Introduction to Closing the Deal
Wednesday, Dec. 2
10:00 a.m. - 5:15 p.m.
Full programs coming soon!