September 23, 2015
TRID and Bear It: TLTA Members Gauge Their TRID Readiness
TLTA | Sept. 23, 2015
With TRID implementation now less than two weeks away, TLTA members seem to feel prepared for the new regulations – albeit to different degrees. TLTA spoke to a few members who were able to take time out of their busy schedules to provide an overview of their offices’ general feelings about TRID and the preparations they’ve taken for October 3rd.
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Breaking News: TDI Announces Timing for Implementing Escrow Officer Licensing Changes, Not Expected To Occur Until Summer 2016
TLTA | Sept. 21, 2015
As TLTA reported in a Breaking News alert, the Texas Department of Insurance (TDI) has
posted a bulletin concerning the timing for implementing
HB 2491, which enacts significant changes to the issuance and renewal of escrow officer licenses and continuing education procedures.
To reduce disruption to the industry and potential delays in the escrow officer license issuance and renewals, TDI will not enforce the provisions of HB 2491 until changes have been made to the Texas Title Insurance Manual (Title Manual) by rule. TDI expects this process will be completed during the summer of 2016.
Click here to read the entire bulletin.
Click here to read the text of the bill.
Ending Marketing Agreements Between Lenders and Brokerages
New York Times | Sept. 11, 2015
Marketing agreements between mortgage lenders and real estate brokerages have been commonplace for years. But federal regulators are cracking down on some of these arrangements as violations of anti-kickback laws, and two major lenders have taken steps to end the practice.
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Lead TRID Developer Leaves CFPB for Wells Fargo
HousingWire | Sept. 17, 2015
Brian Webster, who played a “critical role” in the development of several key policies at the Consumer Financial Protection Bureau, including the TILA/RESPA Integrated Disclosure forms, is leaving the CFPB for Wells Fargo
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The Vitals on Title Insurance
National Association of Insurance Commissioners | Sept. 15, 2015
The National Association of Insurance Commissioners (NAIC) published this consumer guide on title insurance called "The Vitals on Title Insurance." This is part of an effort by the NAIC and title working group within NAIC to find ways to educate the consumer about title insurance. TDI and TLTA have been part of discussions with the working group on the most effective ways to educate consumers about title insurance and will continue monitoring their discussions and progress.
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Rep. Randy Neugebauer to Retire from Congress, Will Not Seek Re-election
HousingWire | Sept. 18, 2015
Rep. Randy Neugebauer, R-Texas, a champion of housing finance reform who co-authored the PATH Act, which would have wound down Fannie Mae and Freddie Mac, will not seek re-election in 2016.
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Compliance Corner
TLTA is starting a new Dateline feature to help our readers stay aware of compliance deadlines. Coming up:
File a T-S1 form with TDI – Due by Sept. 30th
Click here to read all of our recent Compliance Updates.
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.