Dateline Austin Jan 2004

January 23, 2004

Mindy Carr
Director of Government Affairs

RESPA Update
TLTA is intensifying its efforts to oppose the RESPA rule HUD sent to the OMB last month, and in doing so has joined with other Texas real estate industry groups to express our concerns. More story

Home Equity Law
In September 2003 a constitutional amendment was passed that made changes to the home equity law. The Commissioner of Insurance has published for adoption amendments to forms and procedural rules intended to conform to these recent changes. More story

House Speaker Releases List of Issues for Special Study Before the 79th Legislature; Public School System a High Priority
House Speaker Tom Craddick released a list of some 180 issues that will be studied by 40 House standing and select committees during the interim prior to the start of the 79th Legislature. More story

TRCC Adopts Emergency Rules Regarding Registration of Builders
Effective January 1, 2004, all home builders in Texas are required to register new homes, material improvements to existing homes, and certain interior renovations exceeding $20,000 with the Texas Residential Construction Commission. Registration of homes is the first phase of action taken by the commission and the second phase has begun with the adoption of emergency rules regarding registration of builders, effective March 1, 2004. Click here for more details.

RadianExpress.com, Inc. Closes Its’ Doors

Radian Express, the mortgage subsidiary of Radian Group, Inc. began the first phase of a shutdown that they expect to be complete by March 1, 2004. The Internet based settlement company provided real estate information products and services to the first and second mortgage industry. More story

Texas Land Commissioner Rules 4,600 Acres
Do Not Belong To State
In a dispute over clear title, ancient surveys and mineral and oil rights, the Texas land commissioner has determined that more than 4,600 acres in Upshur County belong to the people who claim to own them, not the state.
More story

P-53 Hearing
A special hearing to consider Procedural Rule P-53 regarding Rebates and Discounts was held on January 20 at The Texas Department of Insurance in Austin. The commissioner heard testimony from a number of parties and will now consider all comments and testimony prior to issuing a ruling. TLTA will continue to follow any developments or changes in the status of the P-53 issue, and will update members as they occur.

Texas Title Insurance Rule and Rate Hearings
As of this writing, the Commissioner of Insurance has not yet officially adopted any changes pertaining to the 2002 Texas Title Insurance Rule and Rate Hearing Items. No changes are in effect as of yet, and we will notify you as soon as the Commissioner issues a final order, including effective dates of any changes. For additional information, please contact Leslie Midgley at the TLTA office. To review agenda items under consideration, as well as TLTA's positions, click the links below:

OCC Issues Final Rules on Preemption and Visitorial Powers
The Office of the Comptroller of Currency has published two final rules, the first amends regulations to clarify the applicability of state law to national banks’ operations. More story