May 16, 2012
TLTA Meets With Congress and CFPB in Washington, D.C.
Last week, TLTA representatives visited Capitol Hill and met with members of Congress and their staff in 10 offices. We also met with key staff at the Consumer Financial Protection Bureau (CFPB) to share our concerns with proposals to combine the mortgage disclosures and the real estate settlement form. Specifically, there are significant concerns about a proposed zero percent tolerance, exclusive lender control of the form, and abandonment of a promulgated form. It is feared that each of these proposals could contribute to a consolidation of the market that will hurt small businesses and remove key protections the consumer now enjoys. You may read more about our concerns with the CFPB's proposals here.
Revised TREC HOA Addendum Required July 1, 2012
At its regular meeting May 7, the Texas Real Estate Commission (TREC) approved a revised HOA Addendum to the TREC One-to-Four Family Residential Contract. The revised form may currently be used on a voluntary basis, but its usage will become mandatory on July 1, 2012. The revised HOA Addendum addresses the common failure to reimburse title agents ordering subdivision information in transactions that do not close. TLTA supported the inclusion of language in the Addendum stating that the title agent is only authorized to order a Resale Certificate on behalf of a party after they have received the payment for the certificate. The new language also allows for the parties to identify who should pay for a Resale Certificate and any necessary Resale Certificate updates. The form also now reflects the recent statutory change that permits a buyer to obtain a resale certificate directly from a property owners association. View Updated Form >
Make Sure Your Company is Included in ALTA Agent and Abstractor Survey
Deadline May 31, 2012
The American Land Title Association (ALTA) is conducting a nationwide survey of agents and abstractors to gather potentially valuable information. It is important to have as much participation as possible in order to enhance the accuracy of this survey. The results may provide the industry with valuable advocacy information such as the amount of curative work that goes into issuing title policy and how many employees are in our industry. With accurate and comprehensive responses, the title industry may be better equipped to promote the industry and explain the important work you do for homebuyers, lenders and other parties. The deadline to complete the survey is May 31, 2012. If you have any questions, please contact Irisa Wasson at 1.800.354.7207 or email
[email protected]. Take the Survey >
TLTA Agent and Underwriter Section Meetings Scheduled for June 15
TLTA Agent and Underwriter Section Meetings have been scheduled for Friday, June 15 at 3:30pm. The meetings will be held at the Omni Fort Worth Hotel in conjunction with TLTA's Annual Conference and Business Meeting, which you may read more about here. Members present at these meetings will elect the Agent and Underwriter Section Executive Committees as well as delegates to the 2012-2013 Agent and Underwriter Section Nominating Committees. Read more about the Agent Section Meeting here and the Underwriter Section Meeting here.
Don't Miss These PAC Events at TLTA's Annual Conference!
There are several TLTAPAC events you won't want to miss at TLTA's Annual Conference & Business Meeting in Fort Worth, June 14-16. Evan Smith, the CEO and Editor-in-Chief of the Texas Tribune will discuss state politics and the upcoming 2013 Legislative Session at the PAC Annual Meeting and Breakfast on Friday, June 15. During Saturday's PAC breakfast, you'll hear an inspirational speech from former star wide receiver for the Dallas Cowboys Drew Pearson. You also won't want to miss the Bert Massey Classic Golf Tournament on Thursday, June 14th at the beautiful Dallas Cowboys Golf Club. Register for the Annual Conference and these TLTAPAC events here, or if you are already registered for the Conference and only need to add TLTAPAC events, please fill out the form here.