October 3, 2018


In This Issue:

  • Remote Notaries Represent Less Than 1% of Notary Applications July 1 - Sept. 24
  • CFPB Seeks Feedback on Data Collection, Governance
  • Federal Reserve Seeks to Repeal SAFE Act Regulations to Reflect CFPB Authority
  • Here's the Skinny on Opportunity Zones
  • OPINION: Finding a Fix for Fannie and Freddie
  • Webinar: Completing the TDI Data Reports Due Oct. 31

Remote Notaries Represent Less Than 1% of Notary Applications July 1 - Sept. 24

TLTA | Oct. 2, 2018
The Texas Secretary of State's office reports that they've commissioned 132 online notaries as of Sept. 24, 2018. The remote online notary registration process began on July 1. During the same period of time, SOS commissioned 25,866 traditional notaries.
 
These revised rules for notaries public, including e-notaries, were effective as of Sunday, Aug. 19, 2018. TLTA will continue to monitor the implementation of this program.
 
To learn more, register for our on-demand webinar, Revised Rules for Notaries Public and Remote Online Notaries.


CFPB Seeks Feedback on Data Collection, Governance

ABA Banking Journal | Sept. 26, 2018
The Consumer Financial Protection Bureau has issued a request for information seeking feedback on its collection and treatment of consumer data as it assesses whether changes to its current practices are needed. Comments are due 90 days after publication in the Federal Register.

The bureau is asking the public to comment on its data governance program and any ways that it could be improved; its data collection practices and potential changes; how the bureau should (or should not) use data for multiple functions; ways to reduce reporting burden and increase efficiency around data collection; and any areas the bureau could expand its data collection authority to better support its statutory objectives.

Read More » 


Federal Reserve Seeks to Repeal SAFE Act Regulations to Reflect CFPB Authority

Lexology | Sept. 26, 2018
On Sept. 21, the Federal Reserve Board (Board) issued a notice of proposed rulemaking seeking comment on the repeal of certain provisions of regulations that incorporate the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which the Board states are intended to reflect the transfer of rulemaking authority to the CFPB by the Dodd-Frank Act.

Read More » 


Here's the Skinny on Opportunity Zones

HousingWire | Sept. 28, 2018
Opportunity zones are probably the buzziest potential solution for the affordability crisis and local economic stimulus out there at the moment.

But so far, they've been shrouded in confusion. But no more. Here’s the skinny on how they would work, some of the risks they present and what they are meant to accomplish.

According to a research bulletin from Yardi, there are more than 8,700 areas in the U.S. that were designated Opportunity Zones by the Treasury Department in the Tax Cut and Jobs Act of 2017.
 
Read More » 
List of Texas' Opportunity Zones Designated by Gov. Abbott »


OPINION: Finding a Fix for Fannie and Freddie

U.S. Rep. French Hill | Sept. 18, 2018
It’s been 10 years since Fannie Mae and Freddie Mac, government-sponsored enterprises (GSEs), entered conservatorship and, as of today, there are no set plans in action to unwind them.

The longer they sit in conservatorship, the more taxpayers must pay.

For years, Fannie and Freddie have continued to push the boundaries of their mission and, even after the 2008 bailout and increased government scrutiny, they continue to violate their charters — a systemic problem that’s been continuing since the 1980s.
 
Read More »


Webinar: Completing the TDI Data Reports Due Oct. 31

TLTA | Oct. 1, 2018
The Texas Department of Insurance issued its call for agent statistical data on Thursday, Sept. 20. Texas Insurance Code §2703.153 requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit certain data to TDI. TDI uses this data to set title insurance premium rates. This report should be completed with data generated during calendar year 2017.
 
You must respond to this data call using the provided instructions and forms no later than Oct. 31, 2018. If you are unable to download the forms or have questions about this data call, contact TDI's Shanna Sherwood at 512.676.6681 or PCDataCallTitle@tdi.texas.gov 
 
The education department at TLTA has produced a webinar to help guide you as you complete TDI's mandatory data report. Be in compliance – TLTA can help! Our team of experts will be on hand once again to walk you through the Texas Title Insurance Experience Report and provide a clear, basic overview for finding the information you need.
 
Webinar: On-Time and Error Free TDI Experience Reporting
Oct. 10, 2018
10:30-11:30 a.m. 
 
If you have concerns or questions, please call us at 512.472.6593 or email tlta@tlta.com.

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!