October 21, 2015
Passing Through 3rd Party Expenses and TRID Portal Fees
TLTA | Oct. 21, 2015
TRID has created many new practices for our industry and along with them some new questions as well. Fortunately, our Texas statutes have already provided some answers, particularly as it relates to new costs associated with each transaction.
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Lt. Governor's Final Set of Interim Charges Includes Study of Property Tax Liens on Foreclosures
Lieutenant Governor of Texas | Oct. 15, 2015
Lieutenant Governor Dan Patrick announced his fifth and final set of interim charges to the Texas Senate last week. It includes a charge to “Examine and make recommendations for necessary changes regarding the collection process of delinquent ad valorem property taxes, including an inquiry into the role that tax lien transfers play in forestalling foreclosure."
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New Rules for Lenders Seem to be Raising Costs for Mortgage Customers
Washington Post | Oct. 14, 2015
It has been just a few weeks since the nationwide changeover in mortgage and settlement procedures took effect, but early results are trickling in: Lenders and brokers say just about everything is taking longer, and the costs to home buyers are moving up.
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Questions Arise on How the TRID Transitional Period Works
HousingWire | Oct. 12, 2015
The legal analysts at Ballard Spahr dig into the issues still being raised about how the transition period for the TILA-RESPA Integrated Disclosure rule works, and the issue of civil lawsuit liability.
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Are You Ready for TLTAbay?
The 2015 TLTAbay online auction is less than two weeks away, and we really need your help gathering more donations! Supporting the online auction is a great way to support the TLTAPAC, which is exclusively dedicated to promoting the Texas land title insurance industry to members of the Texas Legislature and other elected officials. Would you consider making a donation today?
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FIRPTA: Closing the Foreign Seller
Tuesday, Oct. 27, 2015 | 1:30 - 2:30 p.m. CDT
$35 members, $49 non-members
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) is codified in Section 1445 of the Internal Revenue Code. In certain instances, this section creates a withholding tax on the sale of a "U.S. real property interest" by a foreign person or entity (corporation, partnership, trust, etc.). The IRS Code also addresses the role of the settlement agent in a transaction subject to the provision of FIRPTA.
The webinar will equip the title agent with the knowledge (from contract through settlement) on how to navigate through federal withholding tax relative to the non-resident foreign seller who is conveying a U.S. real property interest.
Presenter
John Gerard Gilbert, Sr., VP & Mid-Atlantic Regional Manager/Counsel, Title Resources Guaranty Company
Continuing Education
1 hour: Escrow, MCLE, CPE