June 29, 2016

User-Friendly Basic Manual Project Nears End of Phase One –Many Thanks to the Basic Manual Task Force!

The Basic Manual Task Force, chaired by Denise Holmes, CTIP, began work in the fall of 2014 with a goal of reformatting the Basic Manual into a more user-friendly publication for industry practitioners as well as consumers. The task force is made up of both TLTA members and TDI staff. Over the last two years, this incredibly dedicated and hardworking group has met in person at least monthly and spent countless hours in addition to those meetings working to improve this important industry publication. TLTA owes them a huge debt of gratitude for sharing their time and expertise on this important project.

The group started phase one of the project by deconstructing the current Basic Manual and cutting and pasting each component (rate, rule, forms, etc.) into 19 more logically ordered sections that address common issues facing title companies, TDI staff and consumers. It is important to note that no language has been changed in the text; it is simply organized in a fashion that makes it easier to locate related items.

This new "Draft Reorganized Basic Manual" will be posted in the coming months on TDI's website as a "concept for input." You’ll be able to check it out, test drive it and provide comments on how you like it. Eventually, based on input received, these changes will be promulgated; but at this juncture, this is simply a working draft that will be available for comment.
Phase two of the project, which is set to begin later this summer, will involve rewriting existing rules in plain language and revising the manual to eliminate partial rules and duplication where possible. Finally, phase three of the project will review the results of phase one and phase two and make any necessary substantive changes to the Basic Manual. The ultimate goal is to promulgate a Basic Manual that is both logical and user friendly.  
Again, TLTA extends a huge thank you to all members of the Basic Manual Task Force for this incredible achievement. We are indebted to them for their service.
Subscribe to TLTA's Edition of the Basic Manual »

TDI Releases 2014 Agent Statistical Data 

Texas Department of Insurance | June 27, 2016
The compiled 2014 Agent Statistical Data is now available online. The underwriter report is not yet available but TLTA anticipates that it will be soon and will keep you posted.
TDI annually collects information from title agents and underwriters doing business in Texas. Agent companies report their income, expenses and losses. The results are published in the Texas Title Insurance Agent Experience Report Compilation.
View the Full Report »

San Jacinto Title Services of Texas Joins the One Hundred Percent Club

Congratulations to San Jacinto Title Services of Texas for joining the One Hundred Percent Club! Every single member of the company made a personal TLTAPAC contribution. Thank you for your support!

There is strength in numbers when you and your company join the One Hundred Percent Club! All you have to do is have 100 percent of your company's employees donating to the TLTAPAC. Any amount is welcome. Support your industry by inducting your company into the One Hundred Percent Club!

Donate to the TLTAPAC » 
Has your company already joined the One Hundred Percent Club? Let Angela Obolsky know, and TLTA will make sure your company is recognized on TLTA.com as well as Dateline Austin.

ALTA Board Approves Both Best Practices Maturity Model to Help Measure Compliance and Modifications to Best Practices 

American Land Title Association | June 28, 2016
ALTA’s Board of Governors approved the development of a Best Practices Maturity Model to help companies demonstrate the progress made toward implementation of ALTA’s Title Insurance and Settlement Company Best Practices.

View the ALTA Best Practices Maturity Model»
Learn More About ALTA Best Practices »
Read the ALTA Best Practices Maturity Model Press Release »
In addition, ALTA’s Board of Governors recently approved proposed changes to the association’s “Title Insurance and Settlement Company Best Practices” to better reflect market needs and trends.
View the Redline of Proposed Changes to ALTA Best Practices »
Read the ALTA Best Practices Modifications Press Release »

FSOC Recommends Housing Finance Reform

DS News | June 23, 2016
The calls for housing finance reform have come from just about everywhere—the left, the right and every type of organization. Now a council created out of the Dodd-Frank Act acknowledged in its annual report that change is necessary to create a more sustainable housing finance system.
Read More »

Brexit's Impact on the Housing Market

British citizens voted to exit the European Union, and the impact is being felt worldwide. Below are two stories on how Brexit could impact the housing market.
#Brexit: Here Is the Immediate Impact on U.S. Mortgage and Housing Finance (HousingWire)
Brexit Hits Home: Five Questions for the U.S. Housing Market (Forbes)

Help TLTAPAC Reach Its Goal!

Thanks to so many generous donors, TLTAPAC is closer than ever to reaching the $750,000 goal set this year!
The current total is $630,149. Can you help us raise the last $119,851 by June 30?
By contributing to the TLTAPAC, you help ensure a strong future for your profession. Through TLTAPAC involvement, in terms of numbers of people involved and contributions, we are afforded the opportunity to get in front of legislators and policy makers to tell our story and help them understand the unique nature of title insurance. Your contribution is an investment in your business and profession.
Donate Today!