Jan. 19, 2017

TLTA Participates in Panel Discussion at TPPF Policy Forum

Texas Land Title Association | Jan. 19, 2017
On Friday, Jan. 13, Aaron Day and TLTA lobby team member Chancellor Kent Hance participated in a panel discussion titled "Competition and Stability in the Texas Title Insurance Market" during the 15th Annual Texas Public Policy Foundation Policy Orientation. Other panelists were noted critics of our industry Doug Deason, founder of Texans for Free Enterprise, and former OPIC head Rod Bordelon. Aaron stressed the following key points during his remarks, which TLTA tweeted during the program:
  • "Every 10 years, we revisit Texas title insurance. Every time, we decide the system we have works best for Texans."
  • "The Texas system promotes the stability of the title insurance product and competition."
  • "Texas has a painful history of boom and bust property markets. The bottom line is we have the best prices and the most competition for consumers."
  • "I appreciate the admission this is not a fight over deregulation...but reregulation."
Thanks to Aaron and Chancellor Hance for representing our industry so well, and thanks to all who retweeted TLTA's tweets during and after the panel!

To view the panel: go to the TPPF livestream page for the event. Press the play button on the video, then choose the second video down on the right, titled, "Fri 01/13/17 09:15 am Duration: 2:58:36." Scroll to 1:43:31 in the video.

For more information on TPPF and Texans for Free Enterprise's attack on our industry, visit the Texas Title Insurance Works Toolbox, particularly the Misinformation section.

E-Notaries and Texas: What We Know So Far;  Quicken Loans Pushes Remote Notarization for Closing

E-notary is becoming a hot topic around the country. The e-notary concept includes not just electronic signatures but remote notary services as well. It will be an issue in Texas in this current legislative session.

ALTA has put a working group together to identify issues and develop solutions including model legislation for the nation. TLTA is working with ALTA and with the Texas Mortgage Bankers Association (TMBA) as they seek a bill for Texas that will provide for this transition in notary practices while simultaneously insuring the integrity of the real estate transactions.

TLTA welcomes your input as we move forward working on this legislation.

In addition, ALTA recently wrote about Quicken Loans' letter to the National Association of Secretaries of State, in which the company praised the idea of e-notarization. ALTA has generously agreed to share that subscription-only article – titled "Quicken Loans Pushes Remote Notarization for Closings" – with TLTA members.

A New Administration and Congress – Texas Leadership, Dodd-Frank Reform and More

By James. E. Hyland, Esq.  | The Pennsylvania Avenue Group  | TLTA Federal Legislative Counsel  | Jan. 19, 2017
The 115th Congress was sworn in on Jan. 3, and Donald Trump will take office this Friday. It promises to be a very busy year for both tax and financial services legislation. Before the Congress turns to these subjects, however, repealing and replacing the Affordable Care Act will be the first order of business.

Texas will hold seven full committee chairmanships in the new Congress, including Rep. Jeb Hensarling (R-Dallas) as Financial Services chair, Rep. Kevin Brady (R-The Woodlands) as chair of Ways and Means (tax jurisdiction) and Rep. Mike Conaway (R-Midland) as chair of Agriculture. Rep. Pete Sessions (R-Dallas) continues to chair the powerful Rules committee, which serves as a gateway for all major bills that go to the House floor. Texas will also have a significant role in the defense area, with Rep. Mac Thornberry (R-Clarendon) chairing the Armed Services committee and, in a new post for her, Rep. Kay Granger (R-Fort Worth) chairing the Defense appropriations subcommittee. Sen. John Cornyn (R-Texas) remains as the second most powerful Republican in the Senate, serving as the GOP Whip.

Read More »

CFPB Updates: Leadership Changes; Amendments Expected to Be Finalized Mid-2017

The CFPB announced its first leadership changes within the bureau for 2017, following several leadership team changes in 2016. Five new leadership positions have been added. 

Read More in HousingWire »
In addition, the CFPB's semi-annual report announced that the bureau expected to finalize its TRID amendments in mid-2017. From page 63 of the report: "In July 2016, the bureau proposed various amendments to Federal mortgage disclosure requirements under RESPA and TILA that are implemented in Regulation Z. The proposed amendments memorialize the bureau's informal guidance on various issues and include clarifications and technical amendments. The bureau is also proposing tolerance provisions for the total of payments, an adjustment to a partial exemption mainly affecting housing finance agencies and nonprofits, extension of coverage of the integrated disclosure requirements to all cooperative units and guidance on sharing the disclosures with various parties involved in the mortgage origination process. The comment period for the proposal ends in the fall of 2016. The bureau expects to issue a final rule in mid 2017."

Read the Full Report »

Here’s the New Leadership Team for the House Financial Services Committee 

HousingWire | Jan. 9, 2017
The House Financial Services Committee welcomed its new leadership team last Friday, announcing the committee’s leadership team for the 115th Congress.

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said, “I look forward to working alongside my colleagues to pass laws that promote a dynamic economy with more jobs, higher wages and greater economic freedom for all Americans.”

Read More »

The Future of Fannie and Freddie Under Trump

Marketplace | Jan. 3, 2017
By many measures, the U.S. housing market is the strongest it's been since the lead-up to the Great Recession. Home prices have returned to pre-recession levels nationwide. The foreclosure rate has fallen significantly. Mortgage rates are still low by historical standards.
And one complicated legacy of the housing bust could finally be dealt with under the incoming Trump administration and Republican Congress: resolving the fate of the so-called "government-sponsored enterprises" (GSEs): Fannie Mae and Freddie Mac.
Read More »

Two Registration Options for Day at the Capitol – Register Today!

This year, attending Day at the Capitol is more important than ever, and we are offering two registration options.
The two-day option – Feb. 13-14. Recommended if your schedule and budget permits. Benefits include:
Hear keynote presentations from guest legislators
Get an in-person briefing and have the opportunity to ask questions
Meet and visit with colleagues with whom you'll be making legislative calls
Visit with the TLTA lobby team
Enjoy networking and being an active part of the legislative process

The one-day option – Feb. 14. If you can only come for one day, please come anyway!
Participate in the Feb. 9 orientation webinar to get tips and FAQs
Arrive at the Capitol on Tuesday, Feb. 14 to pick up your materials and hit the ground running
Register online or using the printed form.
Learn More »

TLTA is scheduling live webinars for spring 2017. Register now, or book your On-Demand version today!

  • Claims Happen (Wednesday, Jan. 25)
  • Credit Where Credit Is Due (Wednesday, Feb. 15)
  • Unclaimed Property (Friday, Feb. 17)
  • Commercial Closing: A to Z (Tuesday, March 7)
  • 1031 Exchange (Wednesday, March 8)
  • Decedents' Estates (Thursday, March 16)
  • The Long and Short of It (Wednesday, March 22)
  • Foreclosures (Thursday, April 20)