Oct. 18, 2017

TDI Issues Call for Agent Statistical Data

Texas Department of Insurance | Oct. 13, 2017
The Texas Department of Insurance sent its call for Agent Statistical Data on Oct. 13 to each agency in Texas in accordance with Texas Insurance Code §2703.153, which requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit certain data to TDI. TDI uses this data to set title insurance premium rates.
You must respond to this data call using the provided instructions and forms no later than Dec. 15, 2017.
Complete the data call using the interactive PDF forms available at www.tdi.texas.gov/bulletins/index.html.
View the Compliance Update »

Be in compliance – TLTA can help! In the On-Time and Error-Free TDI Experience Reporting webinar on Thursday, Nov. 2 (On-Demand version here), our team of experts will be on hand once again to walk you through the Texas Title Insurance Experience Report and provide a clear, basic overview for finding the information you need.
Still have questions after the Nov. 2 webinar? Send them to kaylee@tlta.com by Monday, Nov. 6 so they can be addressed in the On-Time and Error-Free TDI Experience Reporting Q&A Session webinar on Thursday, Nov. 9.

TLTA Setting Up Grassroots Meetings With Members and Elected Officials; Watch for More Information Soon

Shea Place, legislative counsel and grassroots coordinator, will reach out to TLTA members soon.
In an effort to educate Texas' elected officials about our safe, stable title insurance system and to fight outside parties' efforts to deregulate that system, TLTA will be setting up grassroots meetings between members like you and your senators and representatives over the next few months. You do not need to take action at this time beyond logging in to your TLTA profile using your email address as your user name, then filling out your home address under the "Home Address" tab under "My Addresses" (middle of the left side of the page). If you need assistance, just email tlta@tlta.com or call 512.472.6593, and we'll be happy to assist you.
Shea Place, one of our grassroots coordinators, will be setting up these meetings, so look for a phone call or email from Shea. If you have questions in the meantime, please contact Aaron Day at aaron@tlta.com or 512.879.2881.

TRID News: Understanding the TRID Improvement Act

The M Report | Oct. 10, 2017
The TRID Improvement Act of 2017 was recently introduced by Congressman French Hill to modify disclosures as well as provide clarification and regulatory relief to consumers and financial institutions. To understand the act more thoroughly, The M Report reached out to Richard Horn, former CFPB attorney who led the rule integrating the mortgage disclosures under TRID.

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GSE News: Standardizing the Mortgage Industry

The M Report | Oct. 10, 2017
Data standardization has been a key area of focus for the GSEs through the Uniform Mortgage Data Program first introduced in 2010. On Tuesday, Oct. 10, FHA Senior Policy Analyst in the Division of Housing Mission and Goals Nana Nkrumah released an FHFA Insights Blog into better understanding the program.

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ALTA Submits Letter to CFPB on TRID "Black Hole"

American Land Title Association | Oct. 13, 2017
ALTA submitted a letter to the CFPB urging the removal of the four-business day limit for resetting tolerances with both initial and corrected Closing Disclosures.

Currently, the rule states that once a lender issues a Closing Disclosure, they are prohibited from issuing any further Loan Estimates. Once the initial Closing Disclosure is sent, the rule proceeds to set out a complex set of timing requirements for issuing updated Closing Disclosures. When a closing delay occurs, some creditors believe they can send the consumer an updated disclosure to reset tolerances while others believe they cannot. The rule states that an updated Closing Disclosure can be used to reset good-faith baselines after a valid changed circumstance in any situation in which a Closing Disclosure has already been issued.
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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.

Cyber Crime News: How to Build Strong Passwords 

American Land Title Association | April 4, 2017
Passwords are critical gateways to your company’s databases and networks. But they’re also potential open doors for hackers. Up there with “password” and “qwerty” in the Hack Me Hall of Fame are passwords that are short common terms like team names, dog breeds, dates and other easy-to-guess options. They’re risky on two fronts, according to the Federal Trade Commission. First, an up-to-no-good insider will take one look at the screensaver of an employee's adorable sheepdog Ralphie and immediately try “sheepdog” and “Ralphie.” Second, common words are particularly susceptible to dictionary attacks, the tech equivalent of the million monkeys at a million typewriters that systematically try every conceivable word until they hit pay dirt. When creating passwords, remind your employees to skip those obvious choices. This is one time when good spelling can lead to bad results.
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Note: TLTA will hold Cyber Crime Prevention Update – Scams, Schemes and Your Security, a pre-Institute cyber fraud program, on Wednesday, Dec. 6, the day before the Texas Land Title Institute. This important program will provide an important and informative update on the newest schemes and scams, how to spot red flags and what you can do to protect yourself. You'll walk away with detailed plans, timelines and checklists designed to help you if it’s too late. Learn more and register today!

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