Jan 11, 2012
Federal Reserve Publishes White Paper on Housing Policy
James E. Hyland | The Pennsylvania GroupTLTA Federal Legislative Counsel
Earlier this month, the Federal Reserve Board released a 28-page white paperentitled "The U.S. Housing Market: Current Conditions and Policy Considerations." The Fed wrote the challenges faced by the U.S. housing market today reflect, in part, major changes taking place in housing finance; a persistent excess supply of homes on the market; and losses arising from an often costly and inefficient foreclosure process. One key point in the white paper for the title industry is the Fed’s suggestion that an area for improvement in mortgage servicing may involve creating an online registry of liens. Read More >
Richard Cordray Appointed First CFPB Director
President Obama last week used a recess appointment to install former Ohio Attorney General Richard Cordray as the first Director of the Consumer Financial Protection Bureau. The CFPB may now exercise its full range of powers, including oversight of non-bank financial institutions. It is worth noting, however, that there is some controversy about the process used to make this appointment and there may be legal challenges. On his first day on the job, Cordray appointed Raj Date as the agency's first deputy director and Kent Markus as assistant director of the office of enforcement. Date previously served as the bureau's de facto leader while Cordray's appointment was in limbo during the past six months. Markus previously served as chief legal counsel to former Ohio Governor Ted Strickland. Read More >
New TLTA Leadership Academy - Application Deadline Tomorrow!
Earlier this year TLTA announced the new Alex H. Halff Leadership Academy taking place in Austin, April 2-3, 2012. Nominate a deserving young professional today for consideration of this elite new program, designed to develop and grow young title professionals for the future of our industry. To nominate a candidate, the young professional must submit an application to TLTA by the end of the day tomorrow, Thursday, January 12. Please note, a letter of recommendation is also required. Space is limited to 50 participants so nominees should complete their application as soon as possible. Download Application >