September 19, 2018
In This Issue:
- Texas Bank Petitions Supreme Court on CFPB Case
- State Sen. Joan Huffman Delivers Update to TLTA-Hosted Gathering of Title Professionals
- Are You Ready for Remote Online Notaries?
- Texas Federal Court Denies Motion for Remand On Title Dispute
Texas Bank Petitions Supreme Court on CFPB Case
National Mortgage Professional Magazine | Sept. 7, 2018
A community bank in Texas is seeking to take its six-year legal challenge of the constitutionality of the Consumer Financial Protection Bureau to the nation’s highest court.
State National Bank of Big Spring, Texas, in collaboration with the nonprofit Competitive Enterprise Institute (CEI) and the seniors’ advocacy group 60 Plus Association, filed a petition with the U.S. Supreme Court to hear a lawsuit that would declare the CFPB’s organizational structure unconstitutional. State National Bank first tried to void the CFPB’s structure in court in 2012, but its case was dismissed one year later. The U.S. Court of Appeals overturned that decision in 2015. However, the case has been in limbo since 2016, when the Court of Appeals opted to hear PHH’s similar case against the CFPB instead of the bank’s case.
John Berlau, a senior fellow at the CEI, noted that while his organization welcomed the changes in the CFPB’s focus following Richard Cordray’s departure as director and supports Kathy Kraninger’s nomination to become the next CFPB director, the problem with the agency is the design of its leadership structure.
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State Sen. Joan Huffman Delivers Update to TLTA-Hosted Gathering of Title Professionals
TLTA | Sept. 17, 2018
Houston-area title professionals left their desks and gathered to hear state Sen. Joan Huffman deliver a district update at Maggiano’s Restaurant in Memorial City on Sept. 17.
The meet-and-greet-style event was crowded with title agents and escrow officers eager to learn more about issues facing their region.
State Sen. Joan Huffman Provides District Update for Houston-Area Title Professionals
Michael Knudsen Greets state Sen. Joan Huffman
State Sen. Joan Huffman and the Title Professionals In Attendance
Are You Ready for Remote Online Notaries?
TLTA | Sept. 19, 2018
The Texas Legislature approved the use of remote online notaries (RON), and the Texas Secretary of State has adopted rules related to RON licensing and operations.
Are you ready to navigate the new landscape for notaries public and the professionals who hire them?
Our upcoming webinar, Revised Rules for Notaries Public and Online Notaries
, is guided by presenters who have closely followed the RON 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 »
Texas Federal Court Denies Motion for Remand On Title Dispute
ALTA | Sept. 18, 2018
Michael R. O’Donnell and Michael P. Crowley, both of the law firm Riker, Danzig, Scherer, Hyland & Perretti LLP, provided today’s review of a decision by a U.S. district court in Texas addressing a case where the title insurance company brought an action seeking declaratory relief against the plaintiffs regarding the existence of an alleged title insurance policy.
WFG National Title Insurance Company brought an action before the U.S. District Court for the Northern District of Texas seeking declaratory relief against plaintiffs regarding the existence of a title insurance policy. WFG alleged that some of the plaintiffs had engaged in some actions “consistent with an attempt to set up WFG for a claim to the policy,” and, therefore, sought a judgment that it was not obligated to issue the policy. The plaintiffs separately brought a state court breach of contract action against WFG regarding the same issues. WFG removed the state action to federal court, and the court consolidated the two actions. The plaintiffs then filed a motion to remand, arguing that the court did not have jurisdiction over the actions because the amount in controversy did not exceed $75,000. In support of their motion, they included a stipulation that they sought a maximum of $74,999 in damages. WFG opposed the motion.
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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!