February 2011

Now Accepting Nominations for 2011-2012 Board of Directors

TLTA is currently seeking qualified title industry professionals for the important job of serving on the TLTA Board of Directors. The TLTA Nominating Committee will meet soon to select the slate of nominees. The deadline for nominations is March 3, 2011.

BUSINESS & INDUSTRY NEWS

 

TLTA Represents Membership at Agent Solvency Rule Hearing

Offers New Solutions for Compliance
TLTA represented its membership in late January at a Texas Department of Insurance to consider rules implementing the agent solvency statute. As we reported earlier, the legislation (H.B. 4338) was signed by the Governor in June 2009 and went into effect on September 1, 2009; however, most portions of the law could not be implemented until the Commissioner held a hearing and adopted rules. 
 
In the initial hearing notice, TDI published seven proposed agenda items, including HB 4338-4 which provides for the “certification of assets” and HB 4338-5 which contains a surety bond, both of which can be used by title agents to comply with the minimum capitalization requirements. TLTA also proposed amendments to TDI’s HB 4338-1, HB 4338-2 and HB 4338-3, all of which may be viewed on our website. 

 

Texas Title Premiums Drop 33% Over 3 Years

TDI recently published the 2009 Texas Title Insurance Agents Statistical Report. This information is collected annually by TDI's Data Services Division from all title agents doing business in Texas. Agents are asked to report their income, expenses and losses for the report.

Total premiums decreased by $297 million from 2007 to 2008 and $134 million from 2008 to 2009. In total, from 2007 to 2009 premiums decreased $431 million, or 33%.

Underwriter Statistical Data is expected later this year. View previous annual reports here.



TLTA needs your help! TLTA's Day at the Capitol is February 16, and it's not too late to register. It is an excellent opportunity for you to speak directly to your legislators about the issues that impact our title industry and ultimately your bottom line. With so many important issues on the table, it's important to show our strength in numbers and have our voices heard during the 82nd Legislative Session. By attending, you're making a difference in the future of your business and your industry.


 

Sales Volume Down, Prices Slightly Up for Texas Homes in 2010

According to the Texas Quarterly Housing Report released this week by the Texas Association of Realtors, Texans bought and sold fewer homes in 2010 than in 2009, but the median price of those homes remained stable from year to year. Specifically, in 2010, 202,916 homes were sold in Texas, which is 5% fewer than 2009, and the median price for 2010 was $147,600, 1% more than 2009.

"It's clear Texas was not immune to the economic downturn in 2010 and that showed in the number of homes sold. However, it's encouraging to see that Texas real estate held its value so well during the year, which bodes well for homeowners as the recovery continues," says Dwight Hale, 2011 chairman of the Texas Association of Realtors.

The report also included statistics for the fourth quarter of 2010. During that period, 43,605 homes were sold in Texas, which was 18.9% fewer than the same quarter of 2009. During the same time period, the median price of homes in Texas was $147,400, 3% more than fourth quarter 2009. 

Things That Go Boom: Texas' Population

According to the Real Estate Center at Texas A&M University, Texas is on the verge of a population boom.

"Today, one out of 12 Americans lives in Texas — the same proportion that lived in New York City in 1930," wrote Michael Barone recently in the Wall Street Journal.

"Metropolitan Dallas and metropolitan Houston, with about six million people each, threaten to overtake our fourth-largest metro area, San Francisco Bay (population about seven million), in the next decade," he said. 

The Real Estate Center at Texas A&M University also released its Monthly Review of the Texas Economy for January. According to the report, The Texas economy gained 231,700 jobs from December 2009 to December 2010, an annual growth rate of 2.3 percent. The report also shows every Texas industry except trade and information industries had more jobs in December 2010 than in December 2009. 

Texas' economy and the population boom will be among the hot topics topics discussed at TLTA’s Annual Conference and Business Meeting in San Antonio June 16-18. 

Warren Answers Questions on New Consumer Bureau

A blogger for the U.S. Department of the Treasury recently sat down with Elizabeth Warren, the new Special Assistant to the President and Special Adviser to the Secretary of the Treasury. In the Q&A session, Warren discusses plans for the new Consumer Financial Protection Bureau, which she is tasked to help stand up and make as effective as possible. Read the Q&A.

Treasury Delays Report on Fannie and Freddie Reform

Lorraine Woellert | Bloomberg
A Treasury Department report on the future of U.S.-owned mortgage companies Fannie Mae and Freddie Mac will be delivered to Congress in the first half of February, rather than by the end of January as prescribed under the Dodd-Frank regulatory overhaul law, an official said. Read the full story.

 

MEETING YOUR NEEDS: TOOLS & RESOURCES

 
 

HOT TOPIC WEBINARS

Reverse Mortgages: Everything You Need to Know
Thursday, February 17, 2011
10:00 - 11:00 a.m. CST

Audit Survival: TDI, Underwriter and Annual Independent Audits
Tuesday, February 22, 2011
10:00 - 11:30 a.m. CST

Miss a Webinar? Get a Webinar Replay
Did you miss the recent TLTA webinar explaining the changes to the Basic Manual? How about the webinar detailing the new contract forms recently approved by the Texas Real Estate Commission? For just $29 ($45 for non-members) download either of these webinars or choose from many more to listen to at your own convenience. 

 

Serve Your Clients Better: Attend the 2011 Land Title School

The Land Title School is the gold standard in Texas Title Industry education. The week-long program is structured around a hypothetical transaction based on a residential closing. Presentations will address all phases of a "typical" closing including receipting the contract, abstracting and examining, preparing the commitment and HUD-1 statement, closing the sale and production of the final title policies. The School will be held in Austin March 7-11, 2011. Can’t get away from the office for the whole week? 
 

Certification Application Deadline Extended - Act Now!

The deadline to submit applications for TLTA certification has been extended to February 22, 2011. Act now to sit for the spring test, which will be March 9 & 10, 2011 in Austin.   

In today's world it is more important than ever to distinguish yourself as a knowledgeable title practitioner. Earning a TLTA Certification will help you get there. Add your name to the list of the 93 current certified title practitioners. Learn more about TLTA Certification here and take the next step to give yourself the edge with the Title Professional's Credential.

MEMBER SPOTLIGHT

 

Paul Knouse, Team Manager, LandSafe Title of Texas

What are some of the biggest challenges you face as a title professional?
I have to say I really enjoy working with title and I’ve never viewed anything as a challenge - I've viewed challenges more as opportunities. Some of the biggest opportunities I’ve experienced are changes to laws, different acceptable risks among companies and helping to coach and educate clients who have their own ideas of what the title industry should do.

What’s the most unusual situation you’ve encountered in the title industry?
I don’t know that it’s unusual but the most amusing was a loan officer who didn’t understand why I was concerned that they didn’t inform me their borrower was deceased. 

Who is your mentor?
I have had two fantastic mentors in my career. The first was Midge Hart who has since retired, but stressed the importance of always doing things the right way. My second and current mentor is Randy Pearson, Central Texas Title. He’s been around a few hundred years and is a great source of information. Randy is a great teacher and extremely patient. He describes himself as an old hayseed but you won’t find a better source of information.

Why are you a TLTA Individual Member?
I believe it’s important to support each other. If recent economic events have taught me anything it’s that there is strength in numbers.

What is the best professional development advice you’ve received lately?
Treat every person you talk to like they hold your career in their hands, because at sometime in the future, they might.

Name 3 artists in your IPod
Three Days Grace, Lady Gaga, Timbaland

What’s your favorite thing about TLTA?
It’s a good networking tool and a great source of reliable information.

Paul is a member of TLTA’s Young Professionals Committee and over the last year has recruited more than 30 title industry practitioners to join TLTA’s Young Professional Network. The group is sponsoring a happy hour for those who attend TLTA’s Day at the Capitol on February 15 in Austin. For more information about Day at the Capitol, click here. 
 

NEWS FROM THE TLTA COMMUNITY

 

In Memoriam: TLTA Past President Zeb Fitzgerald, 1912-2010

Zeb Fitzgerald, long-time TLTA member and TLTA President in 1956-1957, passed away on December 11, 2010. In 1946, Zeb moved to San Marcos, Texas to manage the Hays County Abstract Company, which was previously headed by his father. Zeb was active and worked regularly through the age of 95, and he spent his last few years enjoying his home and family. 


 

Welcome to Our New Members

We would like to welcome our newest members to TLTA. 

 
TLTA Names Mary Beth Kiser Senior VP & COO

TLTA is pleased to announce an important change among its staff. Mary Beth Kiser, who previously served as Director of Operations for the association, has recently been promoted to Senior Vice President and Chief Operating Officer. In her newly expanded role, she will serve as second-in-command and will be in charge of all the day-to-day operations at the TLTA offices. "This promotion recognizes the many contributions Mary Beth has made to our organization since she joined us in 2003 and will come as no surprise to those among our membership who have had the pleasure of working with her over the years," said Executive Vice President and CEO Leslie Midgley. "Under her leadership, not only have our internal operations benefited from new efficiencies, but she maintains a constant focus on seeking new ways to better serve our diverse and growing membership. Her commitment to the work we do at TLTA, combined with her exceptional skills and expertise, make her an invaluable asset to this organization." 

Mary Beth is a native of Beaumont, Texas, and a graduate of the University of Texas at Austin. In 2009, she achieved the designation of Certified Association Executive (CAE), from the American Society of Association Executives and is very active in volunteer leadership with the Texas Society of Association Executives (TSAE), serving as a frequent speaker as well as chairing their Conference Committee last year and Education Committee this year. She and her husband, Don, have two teenage sons, Jack and Henry, and in addition to her busy job at TLTA, she stays very involved in all their school and extra-curricular activities. 

 

Changes at University Title Company

Karen McCarroll has become a minority stock holder of University Title Company while Joe Poteet becomes Senior Vice President and Celia Goode-Haddock becomes Chairman of the Board and Chief Executive Officer. 
 

WFG Names New Assistant VP & Agency Rep.

WFG National Insurance recently named Wendy Bryan Assistant Vice President and Texas Agency Representative. She will be supporting WFG’s existing agents as well as expanding the company’s reach in Texas.