Oct. 11, 2017

CFPB Reform News: Bipartisan Push Begins in Congress to Change Part of CFPB’s TRID Rule

HousingWire | Oct. 6, 2017
In an increasingly rare moment of bipartisanship, two Congressmen from opposite sides of the political aisle are partnering to push for a change to the CFPB’s Know Before You Owe mortgage disclosure rule, also called TRID.

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Read "ALTA-Supported Bipartisan Bill to Fix TRID Introduced in House" (ALTA) »

Tax News: Key Lobby Drops Demand for U.S. Mortgage Interest Tax Deduction

Reuters | Oct. 3, 2017
The trade group representing U.S. home builders has abandoned its demand that a new version of the tax code include a mortgage interest deduction, signaling on Tuesday that it would consider alternatives to boost home ownership.

The National Association of Home Builders had raised concerns about the Republican plan to overhaul the tax code because it would have effectively done away with the mortgage interest deduction for millions of taxpayers. That tax deduction is viewed as a critical incentive to encourage home buying.

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ALTA Launches Online Database for Title Insurance Agents

National Mortgage Professional Magazine | Oct. 9, 2017
ALTA has debuted the ALTA Registry, a national online resource that will allow title insurance agents and settlement companies to communicate with underwriters to confirm their company name and contact information.
The ALTA Registry will also assign a unique identification number, the ALTA ID, to each title agent office location for precise identification. ALTA estimated there are nearly 30,000 title and settlement companies and real estate attorneys in the U.S., but there has not been an online, searchable database to identify title and settlement agents and real estate attorneys early in the real estate transaction.

ALTA ID numbers are available for free to title agents and to real estate attorneys.
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Learn More About the Registry From ALTA »

Cyber Crime News: Five Keys to Protect Your Private Information Online 

HousingWire | Oct. 3, 2017
HousingWire has an editorial with a list of five ways to help protect your digital information online.
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CFPB News: CFPB Issues More Amendments Regarding the 2013 Mortgage Servicing Rules, Interim Final Rule Helping Mortgage Servicers Communicate With Borrowers Risking Foreclosure and Updates Small Entity Compliance Guide

The CFPB has issued amendments to the 2016 amendments to the 2013 mortgage servicing rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z).

Read the Interim Final Rule »
In addition, the CFPB has issued an interim final rule and a proposed rule to provide mortgage servicers more flexibility and certainty around requirements to communicate with certain borrowers under the Bureau’s 2016 mortgage servicing amendments.
Read the Press Release »
Lastly, the CFPB has published an updated Small Entity Compliance Guide (Version 5) for Know Before You Know, also known as TRID.
Read the Small Entity Compliance Guide »
See All CFPB Resources on TRID »

Our TLTA Family Members Still Need Assistance

Several members of our TLTA title insurance family are still struggling to put their lives back together after Hurricane Harvey. Our TLTA Disaster Relief Resources page lists the ways you can reach out and help them. We encourage you to take this opportunity to help our industry family members in need as much as you can.

TLTA is scheduling more live webinars for summer 2017. Register now, or explore the On-Demand webinar library today!