Issues Archive

Learn more about the issues that regularly impact the Texas land title industry. Select an issue below to view detailed news articles, reference materials and educational opportunities.
2010 RESPA Reform
In 2008, the U.S. Department of Housing and Urban Development (HUD) released its new Real Estate Settlement Procedures Act (RESPA) rule.

3rd Party Lender Vetting
Some Texas title agents have been asked to pay a third party as a condition of doing business with certain lenders.

Agent Solvency Regulations
Title agents must follow a deposit plan as a means to meet the solvency requirements established in HB 4338 in 2011.

Anti-Rebating Statutes and Regulations
Procedural  Rule 53 (P-53) prohibits certain marketing activities considered to be rebates in the title insurance business.
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CFPB Combined Mortgage Disclosure and Settlement Form Proposal
The Dodd-Frank Act requires the Consumer Financial Protection Bureau (CFPB) to reform the Truth in Lending Act (TILA) and combine those disclosures with the RESPA requirements governing the Good Faith Estimate (GFE) and HUD-1 Settlement Statement.
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GSE Reform: Fannie Mae, Freddie Mac
Congress and the Administration are working to reform the institutions that help fund mortgages in the United States.
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Guaranty Assessment Recoupment Charge
On Dec. 12, the TDI Commissioner issued an order setting a GARC fee of $1.80 to be collected on each owner and loan policy beginning Jan. 1, 2014. 
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Minerals coverage is an issue frequently addressed by judicial, legislative and regulatory bodies. 
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Private Transfer Fees
Private transfer fees were once written into neighborhood deed restrictions and would typically throw 1 percent of a home's sale price back to the original developer each time the home changed hands over a period of 99 years. These fees were banned in 2011.

Short Sale Affidavits
TLTA learned that settlement agents are sometimes asked to sign short sale affidavits. In 2012, the Texas Department of Insurance (TDI) Commissioner issued an order that signing these short sale affidavits is a violation of P-35.

TREC Contract Changes
The Texas Real Estate Commission (TREC) is the state agency that governs real estate practices in Texas. The commission sometimes modifies forms used in the real estate transaction.
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