June 3, 2015
TLTA 84th Legislative Session Wrap Up
Monday marked the last day of the 84th Legislative Session. As of this writing, 1,430 bills were sent to the Governor out of 6,715 that were filed. TLTA tracked 530 bills, of which 106 were sent to the Governor. June 21st is the last day the Governor can sign or veto bills passed during the regular legislative session. TLTA will publish a comprehensive Legislative Report after the veto deadline.
TLTA’s affirmative agenda this session included our correction instrument bill, SB 584, which was signed by the Governor on May 28.
TLTA would like to thank Chair Mike Savas and the TLTA Legislative Committee for all their hard work this session. They met regularly before and during the Session via conference calls to review and analyze many bills and provide feedback on positions and amendments. The committee formed task forces to analyze bills line by line and create amendments for several bills including HB 2491 that addresses escrow officer licensing, HB 3095 regarding durable powers of attorney, SB 462 that establishes a transfer on death deed instrument, several foreclosure process bills and many others.
Sept. 1st marks the effective date of a whole host of new Texas laws that will impact the title industry. Don’t miss TLTA’s upcoming webinar, “New Laws, New Requirements,” on June 8th at 10:00 AM. Find out how the 84th Legislative Session will change your business from two outstanding attorneys who will provide you with practical insight on what you need to be aware of now so you can be prepared for these new laws.
Register Here
TLTA Board Takes Position on Federal Tax Reform
Despite indications that it will be a long process that will likely not be completed until after the 2016 presidential elections, serious conversations have begun in Congress about a major tax overhaul. Initial discussions have indicated that all tax breaks and complicated tax structures are potentially on the chopping block including some traditionally held dear by the Land Title and Real Estate industries. When Congress reforms the nation's tax code, the TLTA board will oppose any changes that would negatively affect Americans' investments in housing and real estate.
Specifically, the TLTA Board is asking that the following tax provisions be preserved.
Mortgage Interest in Real Property Tax Deductions
Exclusion of Capital Gains Tax on the Sale of Principal Residence
Like-kind or 1031 Exchanges
Politics of Tax Reform in the 114th Congress
The Wall Street Journal | May 27, 2015
Despite Republicans’ long-stated desire for a tax code overhaul and their lock on power in both chambers of Congress, they face a number of obstacles in getting tax reform legislation enacted into law in the near term. There are new leaders on both the Ways and Means Committee (Rep. Paul Ryan, R-Ill.) and the Senate Finance Committee (Senator Orrin Hatch, R-Utah) who will seek to put their own stamp on tax reform. Even if GOP lawmakers reach consensus on a specific reform proposal, the Republicans’ margin of control in the Senate does not leave them with a large enough majority to avert the threat of a Democratic filibuster that can keep legislation locked in procedural limbo.
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CFPB Seeks to Calm TRID Fears Without Giving in to Calls for Leniency
National Mortgage News | June 3, 2015
The Consumer Financial Protection Bureau is planning an announcement designed to ease fears about enforcement of its new integrated disclosure rules that take effect August 1st. While the announcement may not be the grace period industry professionals were looking for the CFPB is expected to announce it will take into account good faith efforts by lenders to come into compliance with the rules, according to a source familiar with the CFPB's plan.
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Customize Your Home Loan Toolkit, the Consumer Booklet for Integrated Disclosures Rule
CFPB released a statement regarding updates to the the "Your Home Loan Toolkit." CFPB received numerous inquiries from creditors and other housing professionals wanting to add their logos to the cover of the booklet. In response CFPB released a set of instructions on the topic.
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MBA Letter Critical of Proposed CFPB Complaint Database
MBA NewsLink | May 28, 2015
The Mortgage Bankers Association told the Consumer Financial Protection Bureau that the Consumer Complaint Database would be counterproductive and misleading. The letter, in response to a CFPB Request for Information, said the proposed complaint database would result in “unstructured and unsubstantiated” consumer narratives that in most cases do not warrant real action and mislead consumers, rather than help them, make informed choices about financial institutions and the lending process.
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Keep Calm and Golf On - Join TLTA at the Cowboys Golf Club June 18th
Join TLTA for a morning of outstanding golf and networking at the
Cowboys Golf Club in Grapevine, June 18th as part of the TLTA Annual Conference and Business Meeting. The annual Bert Massey Classic Golf Tournament & TLTAPAC Fundraiser tees off at 8 AM Thursday, June 18 and there will be exciting hole competitions, prizes and giveaways. You do not need to be registered for the conference to play golf. Register now to join us at the beautiful Cowboys Golf Club for a great morning of golf benefitting the TLTAPAC!
Don’t play golf but still want to support the PAC? Select the
Pay Not to Play option on the registration form and just join us for lunch.
It's almost here! Check out the Exciting Conference Program and Speakers for the TLTA Conference!
Register now to join us for the 2015 Conference. We look forward to seeing you in Grapevine!
Hotel Update: Due to an overwhelming response the Gaylord Texan is currently sold out of rooms in the TLTA block. We are working with the Gaylord to see if additional rooms can be secured, as well as nearby hotels to make sure everyone is accommodated.
Important: If you plan to attend the conference but HAVE NOT made your hotel reservation at the Gaylord Texan, please email or call Alex Ferber, 512.879.2882, ASAP to get on the wait list, so we can assist with getting you accommodations.
Make a backup reservation at our nearby Conference overflow hotel,
Courtyard Marriott Dallas DFW Airport North/Grapevine. Please see more information below:
Courtyard Marriott Dallas DFW Airport North/Grapevine
2200 Bass Pro Court
Grapevine, TX 76051
2 miles / 5 minute drive to Gaylord Texan
$169 plus applicable taxes
Click here to book your room
To book by phone: 817.251.9095 and mention TLTA Annual Conference Room Block
NEW THIS YEAR! Optional Pre-Conference program scheduled for June 17 at the Gaylord. We are also offering the Series in Austin on June 24th and
Houston on July 15th. Sign up now as spots are going fast!
TLTA TRID Readiness Series Part II, Dallas, June 17th, Gaylord Texan
Hands-On, How-To Workshop that will take you through the new Closing Disclosure using case studies. Grab a calculator and a pencil and plan to join us!
10am-4pm includes lunch
Register Today!
The Texas Disclosure - What Goes on it and How to Explain it at Closing
July 7, 2015 10:30-11:30 a.m. CT
Join Janet Minke for an overview and walk through of the new Texas Disclosure. This webinar will provide an in depth look at what must be included in the Texas Disclosure, as well as some optional elements you may elect to include to help buyers and sellers more clearly understand certain closing costs.
Register for live webinar>>
Register for On Demand webinar>>
New Texas Laws Effective Sept. 1 – What you Need to Know!
Sept. 1 marks the effective date of a whole host of new Texas laws that will impact the title industry. Find out how the 84th Legislative Session changed your business from two outstanding attorneys who monitored all and worked on many of the changes that went through the Texas Legislature. They will provide you with practical insight on what you need to be aware of now so you can be prepared for the new laws. You’ll learn about:
• Escrow Officer Licensing
• Correction Instruments
• Transfer on Death (TOD) Deeds
• Powers of Attorney
…and more!
Register for live webinar>>
Register for On Demand webinar>>