November 2, 2011
TLTA Meets With New Insurance Commissioner
TLTA staff and officers had an introductory meeting last week with the new Texas Insurance Commissioner Eleanor Kitzman. TLTA representatives provided the Commissioner with information about TLTA and its role as well as background information on the industry and the Texas system of regulating title insurance. Commissioner Kitzman assumed her position in mid-August. She previously served as executive director of the South Carolina Budget and Control Board, and is past director of the South Carolina Department of Insurance. "We look forward to working with Commissioner Kitzman and her staff on the many issues of importance to our industry," said TLTA President Phyllis Mulder.
House Republican to Introduce New GSE Reform Bill
U.S. Representative Scott Garrett (R-NJ) last week shared an outline of a comprehensive GSE reform bill that would preserve some functions of Fannie Mae and Freddie Mac. The American Land Title Association (ALTA) met with Representative Garrett's staff last week and his staff indicated that while the bill does not include title insurance language similar to previous GSE reform legislation, they would not be opposed to a friendly amendment when the bill is marked-up in committee. Read More about the Legislation >
Help Restore Higher Conforming Loan Limits
As we reported last week, the Senate voted to restore conforming loan limits that impacted several Texas counties. Now, the legislation needs support from the House of Representatives where an informal count by the American Land Title Association (ALTA) shows 94 members, including just 16 Republicans, have made public statements in support of the higher limits. Take Action >
Controversial Redistricting Court Hearings Underway This Week
The racially charged battle over newly drawn political districts in Texas is heating up this week, with scheduled court hearings in San Antonio and Washington, D.C. According to the maps approved by the Legislature, Travis County would be split among five congressional districts, none with a majority of population in the county. Read More >
Leadership Changes at Freddie Mac
Both Freddie Mac CEO Charles E. Haldeman, Jr. and Chairman John Koskinen announced they would be leaving their positions at Freddie Mac. Haldeman, who joined Freddie two years ago, will leave sometime in the next year. Koskinen, and fellow board member Robert Glauber, will leave the board in February 2012 when they reach mandatory retirement age. These changes should not affect ALTA's discussions with Freddie Mac about their short sale affidavit requirement. Read More >