Nov. 1, 2017

Vote Yes on Proposition 2 on Nov. 7 to Make Home Equity Loans More Accessible for Texans

TLTA joins several industry groups, including Realtors and lenders, in supporting Proposition 2 dealing with home equity loans. We hope you will support these measures to improve access to home equity loans for all Texas homeowners. Please vote yes, and encourage others you know to do the same! 

What does Prop 2 do, and why are we in favor of it?

  • Lowers the cap on fees from 3 to 2 percent of the loan principal, and ensures that title insurance fees are not counted in that 2 percent
  • Makes it easier for homeowners to get lines of credit on their property
  • Permits loans to be made against agricultural property
  • Allows additional advances on home equity lines of credit, as long as the principal is below 80 percent (rather than the current threshold of 50 percent)
  • Lets homeowners refinance a home equity loan as a non-home equity loan under certain conditions
  • Expands the list of approved lenders
Texas Association of Realtors has created online resources, including FAQs and videos, that are available at
Note: Election day is Tuesday, Nov. 7, while early voting runs through Friday, Nov. 3. Learn about early voting at, or find early voting locations at your county clerk's website.

Housing’s Biggest Trade Groups, Including TLTA, Declare Support for Congressional Push to Change TRID

HousingWire | Oct. 26, 2017
A bill to change part of TRID has bipartisan support in the House of Representatives and a coalition of many of the biggest trade groups in housing – including TLTA – now say they support the bill, too.

The bill in question deals with a title insurance issue and how its fees are presented on both the Loan Estimate and the Closing Disclosure forms that are part of TRID, also called the Know Before You Owe mortgage disclosure rule.
Read More »
Read "Trade Groups Join ALTA Urging Support for TRID Improvement Bill" (ALTA) »
Read the Letter »

Cyber Security News: ALTA Immediate Past President to Testify Before Congress About Data Security, Wire Fraud; What TLTA Is Doing to Help You Keep Your Company Safe

Daniel D. Mennenoh ITP, NTP, the immediate past president of ALTA, will testify Wednesday, Nov. 1 before the Subcommittee on Financial Institutions and Consumer Credit during a hearing titled “Data Security: Vulnerabilities and Opportunities for Improvement.”
Read "ALTA Immediate Past President to Testify Before Congress About Data Security, Wire Fraud" (ALTA) »

What TLTA Is Doing to Help You Keep Your Company Safe 

The TLTA Cyber Security Task Force has unveiled two new resources to help you deal with this massive threat affecting everyone in our industry: a cyber fraud resources page on the TLTA website, and an educational program addressing all the key issues.
The TLTA Cyber Fraud Resources web page is full of links to critical resources and a video that can help protect your company and your clients. It also includes downloadable flyers that you can brand with your company information, designed for internal use with your staff and externally with your customers. Check it out today, and let us know what you think.  
In addition, Cyber Crime Prevention Update – Scams, Schemes and Your Security will take place Wednesday, Dec. 6, the day before the Texas Land Title Institute in San Antonio. You'll hear about the newest schemes and scams, how to spot red flags, what kind of insurance you need and what you can do to protect your company. You'll walk away with detailed plans, timelines and checklists designed to help you. Learn more and register today!

Don't Miss Tomorrow's Webinar on Filling Out the TDI Experience Report

Be in compliance with the TDI Experience Report, due Dec. 15. 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 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.
Register for Tomorrow's Webinar »
View the Original Compliance Update »

TDI Quarterly Audit Results Published

Texas Department of Insurance | Oct. 30, 2017
The following is a summary of recent TDI audits, violations and enforcement actions from June through August 2017. Read TDI's complete summary of operations for the quarter or read the key statistics below.
Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. That means this quarter (within the last three months), TDI conducted 83 audits.
Commissioner Orders: From June through August 2017, TDI signed three orders resulting in fines. As of this report, 47 cases remain active and under investigation.
Compliance Audit Results: Below are TDI's most common audit findings from June through August 2017. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred.
Number of Agencies
Texas Insurance Code
Section 2702.053 – Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed.
Escrow Accounting
Outstanding checks not cleared timely.
Minimum Escrow Accounting Procedures and Internal Controls
#16 – Every disbursement not supported by invoice or sufficient other evidence.
Procedural Rules
P-21: Schedule D of commitment not in file or premium split not disclosed on commitment.
Guaranty Files
Funds not disbursed or escheated to state.

CFPB News: Senate Votes to Repeal CFPB Arbitration Rule in Win for Financial Institutions

American Banker | Oct. 24, 2017
The Senate voted 51 to 50 on Tuesday, Oct. 24, to repeal the CFPB’s rule banning mandatory arbitration clauses in financial contracts, ending months of fighting between the consumer agency on the one hand and the financial services industry and a few fellow regulators on the other.

The rule, which was released in July, would have prevented banks, credit unions and other lenders from requiring customers use the arbitration process to resolve disputes, stopping them from filing class-action lawsuits.
Read More »

Tax News: Home Builders Change Position, Oppose Tax Reform Bill

The National Association of Home Builders changed course on tax reform over the weekend, announcing that it would oppose the GOP plan after learning that a proposed tax credit for mortgage interest had landed on the cutting-room floor. Meanwhile, the association community at large is raising concerns about how tax reform legislation could harm nonprofits.

Efforts by Republican lawmakers to pass a tax reform bill in the coming weeks suffered a setback over the weekend, courtesy of a major trade association.
Read "Home Builders Construct Fresh Opposition to Tax Reform Bill" (Associations Now) »
Read "Ryan Loses Key Ally on Tax Reform After Switch on Breaks for Homeowners" (Politico) »

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