August 29, 2018


In This Issue:

  • CFPB NEWS: Senate Banking Committee Confirms Kraninger for CFPB Director
  • TLTA Testifies, Submits Comments During TDI Hearing on Proposed Amendments to Licensing and Continuing Education Rules in Basic Manual
  • Are You Ready for Remote Online Notaries?
  • State Rep. Pat Fallon Delivers Update to TLTA-Hosted Gathering of Title Professionals
  • GSE NEWS: Fannie Mae, Freddie Mac Ending Expansion Into Single-Family Rentals

CFPB NEWS: Senate Banking Committee Confirms Kraninger for CFPB Director

ALTA | Aug. 23, 2018
The Senate Banking Committee on Aug. 23 voted along party lines to confirm Kathy Kraninger’s nomination to serve as the next director of the Consumer Financial Protection Bureau (CFPB).

All 13 Republicans voted in support of Kraninger, who is Associate Director of the Office of Management and Budget (OMB). The 12 Democrats voted against her.

If confirmed by the full Senate, Kraninger will succeed Richard Cordray, who resigned last November to seek election as governor of Ohio. Mick Mulvaney, the OMB Director, has served as the CFPB’s acting director since.
 
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TLTA Testifies, Submits Comments During TDI Hearing on Proposed Amendments to Licensing and Continuing Education Rules in Basic Manual

TLTA | Aug. 24, 2018
The Texas Department of Insurance held a public hearing Friday Aug. 24, where they considered proposed changes to the Title Insurance Basic Manual. The changes would affect agent and escrow officer licensing and continuing education requirements. See TDI's full proposal and reference material.
 
TLTA had registered formal opposition to some of the rules as proposed and requested the hearing in order to outline suggested amendments to the proposal. TLTA counsel and industry experts testified at the hearing and submitted these comments on behalf of the TLTA membership.
 
The team at TLTA will continue to monitor the development of TDI's proposed amendments, and we will provide thorough analysis of any changes prior to implementation. 
 
If you have questions or comments, please submit them to Aaron Day at aaron@tlta.com or call at 512.810.8800. 


Are You Ready for Remote Online Notaries?

TLTA | Aug. 28, 2018
The Texas Secretary of State revised Chapter 87 of Title 1, Part 4 of the Texas Administrative Code, containing administrative rules for notaries public, including online notaries. 
 
The revised rules, which are effective as of Sunday, Aug. 19, allow for a second type of appointment called Online Notary Public. These rule revisions were made in response to legislation that was passed by the 85th Texas Legislature.
 
The Texas Secretary of State published instructions regarding how to obtain this new appointment/commission. 
 
Additionally, TLTA is producing a webinar that will help answer your questions (see the orange box below).
 
If you have questions or comments, please submit them to Aaron Day at aaron@tlta.com, or call 512.810.8800. 
 

Be Sure to Register for the Remote Online Notary Webinar 
 
Join our expert presenters who have closely followed the Remote Online Notary issue from the passage of legislation through the recent adoption of final rules at the Secretary of State. They will walk you through the basic standards for this new type of notary appointment, point you to helpful resources and discuss the practical aspects of its application in the transaction. Register today:  
 
 Revised Rules for Notaries Public and Online Notaries (Tuesday, Sept. 25 - Intermediate)


State Rep. Pat Fallon Delivers Update to TLTA-Hosted Gathering of Title Professionals

TLTA | Aug. 20, 2018
Wichita Falls-area title professionals left their desks and gathered to hear State Rep. Pat Fallon deliver a district update at The Fox Hill on Aug 22.
 
The meet-and-greet-style event was crowded with title agents and escrow officers eager to learn more about issues facing their region. 


State Rep. Pat Fallon Addresses Gathering of Title Professionals
 

From Left to Right: Randy Schaffner, Christe’ Crook, Janice Goins, Marci Avery, Mike McGlaun, state Rep. Pat Fallon, Lindsey Russell, Shelley Welch, Aaron Day
 

Aaron Day, Jean Taylor, Mindy Schroeder, state Rep. Pat Fallon


GSE NEWS: Fannie Mae, Freddie Mac Ending Expansion Into Single-Family Rentals

HousingWire | Aug. 21, 2018
Over the last year or so, Fannie Mae and Freddie Mac both expanded their presence in the single-family rental market, with both of the government-sponsored enterprises beginning to fund single-family rental investments for larger players in the market.

But that expansion is about to end.

The Federal Housing Finance Agency announced Tuesday that Fannie and Freddie will both be shutting down their single-family rental pilot programs and ending their participation in the single-family rental market, outside of their previously existing small investor programs – Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages.
 
Read More »

TLTA has scheduled a variety of live webinars for 2018! Register now, or explore our library of more than 80 On-Demand webinars and videos covering the title industry topics you need!