September 11, 2013
TLTA Legislative & Regulatory Committees Meet in Austin
TLTA's Legislative Committee, chaired by Mike Savas, and Regulatory Committee, chaired by James Dudley, held their first meetings of the year yesterday in Austin. The committees discussed and identified key issues affecting the industry and outlined their plans of work for the year. Over 60 volunteers attended the two meetings. Subcommittee assignments were made for more in-depth study of the issues, and those groups will report back to the full committees in the coming months with their findings and recommendations. We appreciate the work of these dedicated volunteers, and will continue to keep you updated on their work throughout the year. If there are any issues which require the attention of either of these policy committees, please submit them with this form to
[email protected].
GSE Reform Unlikely Until 2014
HousingWire | Sept. 9, 2013
As the House of Representatives outlined its agenda for floor hearings over the next two months, the market discovered that housing finance reform was not included on policymakers' to-do list. This means the House will not consider a government-sponsored enterprise bill by year-end, showing the challenges officials still face in reforming the sustainability of the mortgage finance system. "Not surprisingly, Syria, the budget, and the debt ceiling are the dominant issues," explained Keefe Bruyette & Woods analysts Brian Gardner and Michael Michaud.
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Regulator Plans to Cut Maximum Amount for Freddie, Fannie Mortgages
Los Angeles Times | Sept. 9, 2013
Regulators plan to lower the maximum size of mortgages that can be backed by Freddie Mac and Fannie Mae, which is now $417,000 in much of the country and $625,500 in expensive areas such as San Francisco, Los Angeles and Orange County. The Federal Housing Finance Agency said the change would probably take effect at the end of the year. “FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, and any such change would be announced with adequate advance notice for implementation on Jan. 1," the agency said in a statement Monday.
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Texas Land Title Institute Now Open for Registration!
Register Now — Dec. 5-6 in San Antonio
Designed especially for real estate attorneys, agent owners and advanced closers, the 23rd Annual Robert C. Sneed Texas Land Title Institute brings the best of the best to the beautiful Hyatt Regency Hill Country Resort. Be part of the tradition, network with peers, and get all the MCLE hours you need at this outstanding program. A detailed schedule is coming soon, but you can register for the event online and
book your hotel now. You may also want to come early on Dec. 4 for a special program called Title Insurance & Doc Prep Basics: An Introduction to Closing the Deal. This optional program will cover key concepts in Texas title insurance and document preparation that that all attorneys show know. You can register for that program
here.
When an HOA Forecloses
The Wall Street Journal | Sept. 9, 2013
Many people think that only a bank can foreclose on a home. But Las Vegas attorney Benjamin Childs, who handles real estate foreclosure cases, says: "Like any other secured lender, HOAs foreclose when they aren't paid." Such foreclosures used to be rare—and still are in some states—but Nevada was so hard hit in the housing downturn that many HOAs don't have much choice. While prices are recovering, delinquencies are still high. According to data firm RealtyTrac, there are more than 13,350 properties in Las Vegas that are in some stage of foreclosure. Owners who don't pay their dues pass along the burden of landscape maintenance, insurance and upkeep for common areas, property management fees and many other costs to the homeowners who do pay their assessments.
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TLTA Live Webinar: Divorce and the Real Estate Process
Wednesday, Sept. 18 | 10:30 - 11:30 a.m.
Divorce is sometimes the unfortunate ending of what starts with so much hope, promise and dreams, including the dream of home ownership. This webinar examines the difficult subject of divorce from a practical perspective, focusing on issues the title professional can expect when closing transactions where divorce is an issue.
Learn More & Register »