January 24, 2018

Compliance Update: Use Texas Disclosure Form T-64 to Correct All Incomplete or Incorrect Disclosures on Closing Disclosure

TLTA | Jan. 22, 2018
Since TRID went into effect and lenders took over the role of preparing the Closing Disclosure, title agents have experienced challenges with CDs that have incomplete or incorrect disclosures. Those challenges have also been evident in TDI audits, as shown in the most recent quarterly report where 98 agents were cited for violating P-73. Many of these violations occurred when the title agent failed to clearly and fully disclose what was necessary to the consumer. 

TLTA has been asked to share some guidance with Texas title agents regarding the use of Form T-64. It is understood that lenders have control over the creation of the Closing Disclosure and at times may aggregate (combine) fees on the form, may not display the correct payee or may not display a fee as required by Texas law. In those instances, title agents should use Texas Disclosure Form T-64, required in every transaction where a CD is used, to clear up and resolve any and all incorrect or incomplete disclosures.  
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TDI Releases 2015 Underwriter Experience Report

TDI | Jan. 23, 2018
Earlier this week, the Texas Department of Insurance posted the Title Insurance Industry Experience Report Compilation for Calendar Years 2011-2015. The report is available in both Excel and pdf formats.
Get the Report » 
See All Available Title Insurance Reports » 

CFPB News: Acting Director Mulvaney Announces Call for Evidence Regarding Consumer Financial Protection Bureau Functions

Consumer Financial Protection Bureau | Jan. 17, 2018
The Consumer Financial Protection Bureau today announced that it is issuing a call for evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers. In coming weeks, the Bureau will be publishing in the Federal Register a series of Requests for Information (RFIs) seeking comment on enforcement, supervision, rulemaking, market monitoring, and education activities. These RFIs will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.
"In this New Year, and under new leadership, it is natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau’s statutory mandate. Moving forward, the Bureau will consistently seek out constructive feedback and welcome ideas for improvement," said Bureau Acting Director Mick Mulvaney.
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Who’s on the Texas Primary Ballots in 2018?

The Texas Tribune | Jan. 2, 2018
Texas will hold its 2018 primary elections on March 6 — the first state in the country to do so — and hundreds of candidates across the state have filed to run for public office. 
Voting Registration Deadline: Monday, Feb. 5 (Make sure you're registered to vote here.)
Early Voting: Tuesday, Feb. 20 - Friday, March 2 
Primary Election Day: Tuesday, March 6

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