Nov. 8, 2017

House Republicans Unveil Tax Reform Package – Read the Highlights

James E. Hyland, Esq. | The Pennsylvania Avenue Group and TLTA Federal Legislative Counsel | Nov. 8, 2017
On Thursday, Nov. 2, House Ways and Means Committee Chairman Kevin Brady (R-The Woodlands) unveiled the long-anticipated Republican tax reform plan. The bill contains over 420 pages and makes major changes to the U.S. tax code, the biggest rewrite in 30 years. While this is only the first step, many of the core aspects of the bill will likely become law, such as cutting the corporate tax rate, helping small businesses and reducing the number of tax brackets.
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All Constitutional Amendments, Including Prop 2, Pass in Election

Texas Land Title Association | Nov. 8, 2017
All seven constitutional amendments passed in the Nov. 7 election, despite only five percent of eligible voters turning out to the polls. This includes the TLTA-supported Prop 2, which will:
  • Lower the cap on fees from 3 to 2 percent of the loan principal, and ensure that title insurance fees are not counted in that 2 percent
  • Make it easier for homeowners to get lines of credit on their property
  • Permit loans to be made against agricultural property
  • Allow 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)
  • Let homeowners refinance a home equity loan as a non-home equity loan under certain conditions
  • Expand the list of approved lenders
Read "Texans in Favor of All Seven Constitutional Amendments" (Texas Tribune) »

Cyber Security News: ALTA Past President Details Wire Fraud Threats During Congressional Testimony; What TLTA Is Doing to Help You Keep Your Company Safe

ALTA Past President Daniel D. Mennenoh ITP, NTP detailed the threat of wire fraud during a Congressional hearing Nov. 1 before the Subcommittee on Financial Institutions and Consumer Credit.

During the hearing titled “Data Security: Vulnerabilities and Opportunities for Improvement,” Mennenoh shared that wire fraud scams have increased 480 percent over the past year. These crimes have cost consumers $5.3 billion.
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Read the Testimony Transcript »
Watch the Testimony »

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!

Rep. Jeb Hensarling (R-TX) to Retire After End of Current Term

The Hill | Oct. 31, 2017
House Financial Services Committee Chairman Jeb Hensarling (R-TX) announced Tuesday, Oct. 31, that he will retire at the end of his term.
"Today I am announcing that I will not seek reelection to the U.S. Congress in 2018. Although service in Congress remains the greatest privilege of my life, I never intended to make it a lifetime commitment, and I have already stayed far longer than I had originally planned," Hensarling said.
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TLTA is scheduling more live webinars for fall and winter 2017. Register now, or explore the On-Demand webinar library today!