April 4, 2018
In This Issue:
- TLTA Regulatory Committee Meets in Austin
- TLTA Comments on TDI Proposed Amendments to Basic Manual Rules
- GSE News: Fannie Mae Now Allowing Lenders to Contribute to Borrower Closing Costs
- CFPB News: Bureau Seeks Comment on Its Guidance and Implementation Support
- CFPB News: Mulvaney Asks Congress to Dramatically Reduce CFPB's Independence
TLTA Regulatory Committee Meets in Austin
TLTA | April 3, 2018
TLTA's Regulatory Committee, which is chaired by Peter Graf, met in Austin on Tuesday, April 3, to prepare for the Texas Department of Insurance's next round of substantive rulemaking. Our Regulatory Committee studies and recommends TLTA's position on all Texas regulatory agency proposals/rules that could affect the Texas title insurance industry. They also develop proposals for new rules and forms as appropriate.
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TLTA Comments on TDI Proposed Amendments to Basic Manual Rules
TLTA | April 2, 2018
As we reported in February, TDI proposed rule amendments that are designed to update, correct and clarify rules and forms in the Basic Manual of Title Insurance.
These proposed amendments were submitted by TLTA in 2016 to address "housekeeping items" in the Basic Manual. This round of rule amendments avoids substantive or potentially controversial changes, focusing on a large volume of needed technical corrections instead.
TLTA submitted written comments on the proposed amendments earlier this week. Final amendments will be effective later this year, resulting in changes to the Basic Manual.
Speaking of changes, TLTA's online Basic Manual now includes a new, more user-friendly format (view a demo
Read TLTA's Comments »
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GSE News: Fannie Mae Now Allowing Lenders to Contribute to Borrower Closing Costs
HousingWire | April 4, 2018
Fannie Mae announced this week that it will now allow lenders to contribute to borrowers’ closing costs, as long as the money is a gift and is not used towards a borrower’s down payment. Over the last few years, Freddie Mac on a larger scale, and Fannie Mae on a smaller scale, allowed lenders to gift money to borrowers that could be used on their down payment on a 3% down mortgage.
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CFPB News: Bureau Seeks Comment on Its Guidance and Implementation Support
National Law Review | March 29, 2018
The CFPB has issued a request for information that seeks comment on its guidance and implementation support. Comments on the RFI must be received on or before 90 days after the date the RFI is published in the Federal Register, which the CFPB expects to occur on approximately April 2, 2018.
The new RFI represents the tenth in a series of RFI's announced by the CFPB.
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CFPB News: Mulvaney Asks Congress to Dramatically Reduce CFPB's Independence
HousingWire | April 2, 2018
On Monday, the CFPB issued its first semi-annual report to Congress since Mulvaney took over as acting director of the agency last year. In the report, Mulvaney asked Congress to enact four major reforms that would considerably cut the CFPB’s independence.
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Read CFPB's Semi-Annual Report »
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