October 23, 2013
CFPB Releases Small Entity Compliance Guide for QRM Rule
The Consumer Financial Protection Bureau (CFPB) has released a small entity compliance guide and video to help explain its ability-to-repay and qualified mortgage
rule. This rule is expected to impact residential lending and the ability for some potential homebuyers to obtain financing. You can view the guide
here and the video
here. It is important to note that this rule only affects lenders and loans. So far, there is no final rule on the integrated mortgage disclosures that will impact the closing statement; that rule is expected later this year.
One-Fifth of Today's Mortgage Loans Don't Meet QM Standards
DSNews | Oct. 21, 2013
One in five loans originated in today’s mortgage market will not meet the requirements of the Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage (QM) rule that goes into effect in January, according to California-based ComplianceEase. ComplianceEase reviewed the loans audited through its ComplianceAnalyzer, a loan auditing software, to determine what percentage of current loans would meet the new QM criteria.
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TLTA's Website Will Be Down This Week
The
TLTA website will be temporarily unavailable for about 48 hours beginning 5 p.m. CDT today as we perform some updates and improvements to the site. We hope to be back up and running by late Friday afternoon. During that down time, please give us a call at 512.472.6593 if you need to register for an event, purchase a product or gain access to any information on the site. We'll be happy to assist you the old-fashioned way! We appreciate your patience as we make these improvements to our website.
The TLTAPAC Needs Your Help — Donate to TLTAbay Today!
This Year's Auction Will Run Nov. 7-14
The TLTAbay online auction benefiting the TLTAPAC will begin Thursday, Nov. 7, and run through Thursday, Nov. 14. We are still in need of donated items — we're looking for electronics, gift cards, sporting event tickets, travel vouchers, vacations, spa packages and jewelry. Don't know what to donate? Make a monetary donation and we'll do the shopping for you! Read more about the auction and make a donation
here or contact David Glenn for more information.
Commissioner Signs Rule Order, Basic Manual Changes Coming
Order Your Basic Manual Updates Today!
Earlier this month, the TDI Commissioner signed a final order addressing 71 agenda items. These new rules will bring several changes to the Basic Manual. To ensure your Basic Manual stays compliant, order your updates from TLTA! After signing up, updates will be sent directly to your email by the January effective date so you can print them and update your hard copy if you choose. You'll also receive updates before the July 2014 effective date and before any other changes are made to the Basic Manual through Dec. 31, 2014. Included with your subscription is access to our always up-to-date online version of the Basic Manual with easy search features and downloadable forms. Don't wait — make sure you stay TDI complaint today!
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Upcoming TLTA Hot Topic Webinars — Register Today!
Overview of New TDI Rule & Form Changes
Thursday, Nov. 7 | 10:30 - 11:30 a.m.
You've been hearing about these changes for two years...now they are official. This webinar will give you a brief look at all of the changes to help you decide which areas need more in depth study for your business.
Learn More & Register »
Intestacy in Texas: Who Gets What When There's No Will?
Wednesday, Nov. 13 | 10:30 - 11:30 a.m.
How do you sort out who needs to sign when someone in title dies without a will? This webinar will review the Texas intestacy laws, as well as contain some scenarios for participants to interact and help determine who may need to come to closing. The basics of intestacy will also be discussed, as well as types of probates commonly used when a deceased dies without a will. Other intestacy issues discussed include adopted individuals and disclaimer of interests.
Learn More & Register »
New and Revised Procedural Rules, Rates and Forms
Tuesday, Dec. 3 | 10:30 - 11:30 a.m.
Closers, assistants, forms managers: this webinar is for you! Review all the housekeeping changes to procedural rules, rate rules and many forms, including two new insuring forms that will go into effect after the next rate hearing and a change to Minimum Escrow Accounting Procedures to address mobile notaries.
Learn More & Register »
Agent Licensing Changes & New CE Requirements
Tuesday, Dec. 10 | 10:30 - 11:30 a.m.
Agency owners and managers, as well as underwriter agency representatives and managers, should definitely find the time for this webinar. There are several changes in how existing agents will be licensed the future, as well as new training requirements to be met for new agent licensing.
Learn More & Register »
New Agent Solvency Requirements
Wednesday, Dec. 11 | 10:30 - 11:30 a.m.
Are you an owner or manager? Do you assist agents who are new to our industry? If so, this indepth look at the new mandatory solvency requirements is a must for you. This webinar will help you sort out the various plans, learn about reporting requirements and understand the new forms to implement it all.
Learn More & Register »