September 16, 2015
ALTA, Other Joint Trade Associations Write to FFIEC Requesting
TRID Action
NAIC | Sept. 8, 2015
A group of trade associations, including the American Land Title Association (ALTA), worked together to pen a letter to the Federal Financial Institutions Examination Council (FFIEC) sent Tuesday, September 8. According to NAIC, the trade associations requested that the FFIEC "articulate supervisory standards for good-faith compliance efforts during transition following the October 3 effective date for the TILA/RESPA Integrated Disclosure (TRID) rule. The industry seeks both to comply and to limit the potential for unintended consequences during transition."
Click here to read a copy of the letter.
Compliance Tools Available from TLTA
TLTA has developed a number of tools and resources to help you stay compliant with regulatory requirements, including:
Compliance Updates, announcing regulatory changes and clarifications from the Texas Department of Insurance
Compliance webinars
General industry resources
Have a suggestion for a new compliance tool? Let us know at
[email protected].
Lenders Say They're Easing Mortgage Terms, But Statistics
Suggest Otherwise
Washington Post | Sept. 9, 2015
Everybody knows how important credit scores are to obtaining a home mortgage. But are lenders lately playing a numbers game with consumers — claiming they're willing to accept lower scores while actually approving applicants with higher scores on average than they did last year or even earlier this year?
Read More »
ALTA: This is Where the CFPB Got Title Insurance Wrong With
TRID
HousingWire | Sept. 9, 2015
In a hearing before the House Financial Services Committee's Housing and Insurance Subcommittee in May, Diane Evans, president of American Land Title Association, addressed the glaring issue in the new TILA-RESPA Integrated Disclosure Rule in regards to title insurance.
Read More »
AICPA Issues Guidance to CPAs Regarding Auditing for ALTA
Best Practices Compliance
Journal of Accountancy | April 2015
Just a reminder that the American Society of Certified Public Accountants (AICPA) issued some guidance in April for CPAs who may be retained to audit or review a title agency for ALTA Best Practices Compliance. ALTA worked with this leading national organization to help develop guidance in order to make this service more readily available to title agents locally.
Here are two articles we mentioned in April about this:
Click here to read AICPA's Q&A about ALTA's best practices.
Click here to read the Journal of Accountancy's article about AICPA's Q&A.
New Home Purchase Sentiment Index from Fannie Mae
Fannie Mae | August 2015
Fannie Mae's Economic & Strategic Research Group has launched the Fannie Mae Home Purchase Sentiment Index™ (HPSI), which distills results from its consumer-focused National Housing Survey™ (NHS) into a single, monthly, predictive indicator. Reflecting more than four years of data, the HPSI is designed to provide distinct signals about the direction of the housing market, helping industry participants to make better informed business decisions.
Read More »
Mortgage Bankers Expect Growth in 2016, Regardless of Rate
Hike
Mortgage Orb | Sept. 8, 2015
About 60 percent of mortgage bankers predict that 2016 will be a sellers' market, and about 89% say the market could weather an interest rate hike this fall, according to a survey conducted in early August by Lenders One, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services.
Read More »
Policing the Data: Ensuring the Safety of NPI
Thursday, Sept. 17, 2015 | 1:30 - 2:30 p.m. CDT
Every day we hear about a new data security breach. Title insurance companies are not immune to the threat. Presenter Scott Florez will familiarize Texas title agents with the various types of non-public personal information contained in the Guaranty File and how to protect it both physically and electronically. In this webinar, you'll learn about:
The definition of NPI (Non-Public Personal Information)
Where it's found in a title company
Ways to secure NPI physically and electronically
Click here to register.
The Texas Transfer on Death Deed
Thursday, Sept. 24, 2015 | 10:30 - 11:30 a.m. CDT
On September 1, 2015, Texas joined a growing number of states that allow owners of real estate to transfer property to their heirs outside the probate process using a Transfer on Death Deed. The deed works like a beneficiary designation on a bank account or an insurance policy. It allows you to name a primary and contingent beneficiary who will inherit your real property after you die. You sign and record the deed now, but it doesn't take effect until your death. You can revoke the deed or sell the property at any time; the beneficiary you name on the deed has no rights in the property until your death.
Join presenter Lisa Beville as she discusses:
The statutory requirements for creating (drafting) a valid Transfer on Death Deed “TODD”
The process for revoking a TODD
Possible examination issues when a TODD is discovered in the chain of title
Click here to register.
Catchy Tax Issues
Friday, Oct. 2, 2015 | 10:30 - 11:30 a.m. CDT
This webinar will explore how Texas title policies cover and limit coverage of property tax issues, many of which are unique to Texas. We will review the rules and procedures of TDI Rule P-20, including:
How to handle “current-year” property taxes
Insuring taxes “not yet due and payable”
Rollback tax liability
Review some “special” property tax issues
Recent laws passed related to property taxation in Texas
Presenter Charles Craig will give attendees a better understanding of the Texas property taxation system, title coverage and limitations under TDI Rule P-20, as well as how to apply title underwriting principles to Texas property tax issues, both general and special.
This webinar and materials are useful in preparing for the TLTA Certification exam, as well as for generally increasing your knowledge in the area of Ad Valorem Taxes.
Click here to register.
Click here to see all of our webinar offerings.