July 1, 2004
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REMINDER - New rates effective July 1^st 
Effective July 1, 2004, the basic premium rates for Title Insurance decrease by 6.5 percent and new rules go into effect. Click here http://www.tlta.com  to print the updated rate chart or to view the new rules and endorsements.

Rate updates to the Texas Title Insurance Basic Manual are now being mailed to those who have already placed an order. If you have not ordered your updates, please do so as soon as possible, or your manual will be out-of date as of July 1, 2004.

Filing smart
The Texas Department of Insurance has introduced a new resource entitled Filing Smart that can be accessed on their website. This resource provides the NAIC Title Industry Checklist for all quarterly, annual, and supplemental filings required by the Department.  In addition, you can access specific departmental contact information, filing deadlines, and company licensing requirements.
                    Click here to visit TDI’s Filing Smart Resource

AG rules on redaction of Social Security Numbers
An Attorney General opinion has ruled that a board of judges has no authority to order the county clerk to redact Social Security numbers on the electronic copies of case-related documents. This ruling was prompted by an opinion request (RQ-0154-GA) by the Fort Bend County Attorney. He requested an AG opinion on whether, in accordance with an order from a board of county court at law judges, a county clerk may redact Social Security numbers from documents available on the clerk’s website, although the numbers are not redacted from hard copies of the same documents filed in the clerk’s office. TLTA submitted comments documenting specific cases and legislation on this issue.
http://www.oag.state.tx.us/opinions/requests_ga/RQ0154GA.pdf

2004-2005 TLTA Committees and Task Forces
President Terry Grantham has named a number of committees and task forces to study legislative and regulatory issues affecting the industry. The Tax Foreclosure Sales Task Force led by Stan Keeton, Alamo Title is charged with studying the issue of the insurability of property involved in tax foreclosure sales. The Procedures & Forms Technology Task Force led by John Voyles, DHI Title of Central Texas is charged with suggesting changes to procedures and forms that incorporate current technologies. The Master Indemnity Form Task Force led by Stan Keeton, Alamo Title will research the need for and feasibility of a promulgated master indemnity form. The Legislative Committee led by Bruce Boyer, Ameripoint Title of New Braunfels will make recommendations on legislative policy issues raised during the Legislative Session. The Federal Issues Committee led by Jack Rattikin, III, Rattikin Title Company will work with staff to oversee the association’s efforts with regard to any federal regulations or legislative issues that affect the industry. The Rates, Rules & Forms Committee led by Sheri Asbell, United General Title Insurance will review and recommend positions on all proposals regarding regulatory changes in the rates, rules, and forms promulgated by the Texas Department of Insurance.  Click here to view a listing of TLTA 2004-2005 Committee Rosters

TLTA to meet with HUD Secretary Alphonso Jackson
TLTA's federal lobbyist, Jim Hyland, has successfully scheduled an appointment in Washington D.C. in July with HUD Secretary Alphonso Jackson. A small delegation of TLTA members from the Federal Issues Committee will be traveling to D. C. to discuss our position on RESPA reform. TLTA members have met several times with HUD staff during the past year, but this will be our first meeting with Secretary Jackson. We are very excited about this meeting with the secretary and look forward to outlining the issues we face in Texas regarding HUD’s proposed rules. We will keep you updated on our work on this important issue.

Conference Attendees take a chance on the TLTAPAC
Annual Conference attendees took a chance and supported the TLTAPAC by taking part in the 3rd Annual Silent auction. With over 50 items up for bid the PAC was able to raise almost $8,000.  Attendees also voluntarily donated $2,900 while entering for a chance to win $500 in cash sponsored by the Ameripoint Alliance. A record number of attendees (over 70!) raised $2500 by attending the annual TLTAPAC Breakfast with guest speaker Paul Burka, Executive Editor of Texas Monthly. We would like to extend a special thank you to our Annual PAC Breakfast sponsor and to all of you who donated to the 3^rd Annual PAC Silent Auction. Due to your generous contributions these events were a tremendous success.

2004 Annual PAC Breakfast Sponsor:     

TLTAPAC  3^rd Annual Silent Auction Donors:  

Committee looking at recommendations on public access to court records
The Committee on Public Access to Court Records, a sub-group of the Texas Judicial Council, has been charged to examine, analyze, and make recommendations to the Council regarding the public’s access to court case records. Due to technological advances such as the electronic filing of court documents, case files are becoming easier to access and can be “broadcast” via the Internet. The committee is looking to develop a comprehensive statewide policy that balances the important interests of public access, personal privacy and public safety. TLTA has been a resource for the committee on specific issues affecting the title insurance industry. Topics include restricting access to case records that affect the transfer of real property, bulk distribution and redacting of sensitive information. We will continue to monitor the committee’s actions throughout the process.

OCC Publishes Advisory on Retaining Electronic Records under E-SIGN
The Office of the Comptroller of the Currency (OCC) published an advisory on retaining electronic records under E-SIGN. The advisory addresses numerous issues for lenders evaluating the risks associated with retaining electronic records. The advisory cautions banks that "it is an unsafe and unsound practice if the bank fails to maintain loan documentation that, among other things, ensures that the bank's claims against its borrowers are legally enforceable." Also, the advisory notes that "[t]he failure to properly secure and protect bank electronic record retention systems that contain confidential customer information will violate the minimum security standards imposed under section 501(b) of the Gramm-Leach-Bliley Act."
                    Click here to view the advisory.

NCCUSL drafting Uniform Mortgage Satisfaction Act
The National Conference of Commissioners on Uniform Laws (NCCUSL) has released their Uniform Mortgage Satisfaction Act draft for review and comment. Click here to view a copy of the draft.

The proposed changes include tougher standards for failing to release mortgages in a timely fashion, and tightens the time period during which those satisfactions must occur. It also recommends that title insurers and attorneys be afforded the right to release mortgages under prohibited conditions. Final NCCUSL proposals will be presented to the commissioners at an annual meeting in August. NCCUSL was formed to promote enactment of uniform state laws in areas where uniformity is desirable and practical.




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