June 19, 2013
TDI Issues Calls for Agent and Underwriter Statistical Data
Agent Deadline August 2, Underwriter Deadline August 16
The Texas Department of Insurance (TDI) has issued its call for Agent and Underwriter Statistical Data. The form acknowledging that you have received the agent data call, along with the listing of your branch offices must be submitted to the Department by fax or email no later than Monday, June 24, and you can download that form here. The completed agent report must be postmarked or submitted electronically by August 2, 2013. The completed underwriter report must be postmarked or submitted electronically by August 16, 2013. If you have any questions, please contact Betty Flores at 512.322.5029.
TLTA will hold a webinar for those who are new to filing out the Agent Statistical Report on Wednesday, July 17 at 10:00 a.m. Stay tuned for more information.
TLTA Supported Legislation Signed Into Law
Gov. Rick Perry has signed two pieces of TLTA-sponsored legislation into law. HB 1913 by Sen. Tommy Williams and Rep. Dwayne Bohac, provides significant relief for the title industry by allowing for the waiver of penalties and interest for property taxes that are levied against omitted improvements and erroneous exemptions. This legislation was signed by the Governor and will go into effect on Sept. 1, 2013.
Gov. Perry also recently signed SB 887 by Rep. Rob Orr and Sen. Carlos Uresti into law. This legislation clarifies that the date of a correction instrument relates back to the original filing date and also provides the clear ability to treat an inadvertently omitted attachment as a nonmaterial correction. The new statute is effective on Sept. 1, 2013.
With Veto Dust Settled, Which Texas Bills Won and Lost?
Dallas Morning News | June 15, 2013
The Legislature sent Gov. Rick Perry more than 1,430 would-be laws. By the end of last week, the Republican governor had nixed just over two dozen of them. He drew heavy fire from Democrats for killing bills to prevent wage discrimination against women, tighten ethics laws and overhaul truancy courts. Perry said Friday that the measures either weren’t needed or conflicted with existing state statutes. Read More »
CFPB Launches Mortgage Rule Implementation Page
The Consumer Financial Protection Bureau recently announced a new Regulatory Implementation web page, which consolidates all of the Department's new 2013 mortgage rules and related implementation materials. According to the CFPB, this new site is is part of their effort to support rule implementation and ensure that industry is ready to comply with the new borrower protections. Read More »
The Rebirth of Fannie and Freddie
CNN Money | June 13, 2013
On the morning of Feb. 11, 2011, Treasury Secretary Timothy Geithner gave a speech at the Brookings Institution near DuPont Circle in Washington, D.C., addressing the future of Fannie Mae and Freddie Mac. "We need to wind down Fannie and Freddie and substantially reduce the government's footprint in the housing market," he declared. Geithner's position enjoyed remarkably wide support from lawmakers, regulators, and economists across the political spectrum. Read More »
A Challenge to All Escrow Officers!
The TLTAPAC Board of Trustees has issued a challenge this year to every escrow officer in the state to contribute a minimum donation of $25 to the TLTAPAC. With almost 6,000 escrow officers currently licensed in Texas, a $25 contribution from each would raise $150,000 for the PAC from escrow officers alone! Please donate online today here or send a personal check payable to the TLTAPAC with this form.