January 9, 2019

In This Issue:

  • The Texas Legislature Is Back In Session
  • Day at the Capitol: Registration Deadlines Approaching Quickly
  • Five Things to Watch As the Texas Legislature's 86th Session Gets Underway
  • Maxine Waters: Much of My Work Will Be Undoing Mulvaney's 'Damage' to CFPB
  • Watt Out: OCC's Otting Officially Takes Over As FHFA Director

The Texas Legislature Is Back In Session

TLTA | Jan. 8, 209
The 86th Session of the Texas Legislature commenced yesterday, and TLTA was on hand at the state Capitol, building strong relationships with legislators and other community partners who share our commitment to property rights.
Much of the discussion around the pink building yesterday was focused on Texas Comptroller Glenn Hegar’s delivery of the biennial revenue estimate, which forecast an 8 percent increase in revenue over the previous biennium and a projected balance of $15 billion in the state’s rainy day fund by the end of the fiscal year – positive news for the state’s budget writers.
Reducing property taxes, reforming the state’s school finance system, Hurricane Harvey recovery and other legislative challenges were among the most discussed topics as legislators, staff and leaders from around the state gathered on opening day to kick off the 140-day legislative session.

While his election was no surprise, it is worth noting that Texas House members unanimously elected state Rep. Dennis Bonnen to be the new Speaker of the House. The honor of delivering Bonnen's nominating speeches was given to state Reps. Dustin Burrows, Senfronia Thompson, Matt Krause, Mary Gonzalez, Lyle Larson and Eddie Lucio III.
In the speech he delivered after his election, Speaker Bonnen spoke about the importance of collaboration and the value of the House's agenda being led and shaped by all members of the body. Citing school finance reform and property tax relief, Speaker Bonnen said, “I’m convinced we can move the needle on these opportunities, if we treat one another with mutual respect and understanding and stay focused on the lives we affect with every vote we take on this floor.”
Your team at TLTA is already tracking bills and advancing an affirmative legislative agenda that includes clean-up of the Remote Online Notary statute, modernization of TTIGA and other priorities identified by TLTA’s legislative committee and approved by TLTA’s Board of Directors.
We will continue to keep you updated as the legislative session progresses. If you have questions about our ongoing work with the Texas Legislature, please contact Brandon Custer or Aaron Day.

Day at the Capitol: Registration Deadlines Are Approaching Quickly

TLTA | Jan. 9, 2019
For our state’s part-time Legislature, this is prime time. The 86th Session of the Texas Legislature kicked off yesterday, and legislators' work will continue for the next 140 days. In the months ahead, state lawmakers will listen to thousands of Texans’ stories, and make innumerable decisions that will impact our communities and our businesses.

That’s why it’s so important that you register today to join the title professionals and other industry advocates who are gathering for TLTA’s Day at the Capitol in Austin Feb. 12-13. Elected officials at the Capitol in Austin have the power to help maintain the long-term health and success of our regulated industry. One of the best ways to cut through the noise during a busy legislative session is to gather at the state Capitol and go office to office, sharing our industry's powerful story with legislators, staff and other influencers. 


Registration deadlines—including the deadline to book a hotel room at the group rate—are approaching quickly, so register for TLTA’s Day at the Capitol today and make a plan to join us at the Capitol in Austin Feb. 12-13!


Five Things to Watch as the Texas Legislature's 86th Session Gets Underway

Texas Monthly | Jan. 7, 2019
At noon on Tuesday—the second Tuesday of odd numbered years, as prescribed by the state constitution—150 members of the Texas House and 31 members of the Texas Senate were sworn into office to convene the 86th Texas Legislature. Each House member represents approximately 113,000 constituents. Each member of the Senate represents roughly 500,000 constituents. For the next 140 days, these two groups of elected officials will be locked into a marathon of public policy making, considering in excess of 6,000 bills (and rejecting most of them). Here are recommendations for five things to watch this legislative session:
New House Speaker
House Democrats
Social Conservatives
Property Tax and School Finance Reform
The Border
Read More »

Maxine Waters: Much of My Work Will Be Undoing Mulvaney's 'Damage' to CFPB

The Hill | Jan. 3, 2019
Rep. Maxine Waters (D-Calif.) said one of her top priorities will be undoing the damage by former Consumer Financial Protection Bureau chief Mick Mulvaney now that Democrats control the House.
In an interview Thursday on "All In with Chris Hayes," the newly-named House Financial Services Committee chairwoman called Mulvaney's reforms to the agency, which she says eroded consumer protections, "dangerous" for American consumers.
"I've been focused on the Consumer Financial Protection Bureau," Waters told MSNBC on Thursday. "That was the center piece of the Dodd/Frank reform. And Mulvaney who was sent over temporarily by the president to oversee it after the guy who headed it left to run for governor. And he's tried to dismantle the consumer financial protection bureau."

Watt Out: OCC's Otting Officially Takes Over As FHFA Director 

HousingWire | Jan. 7, 2019
Mel Watt’s time as the director of the Federal Housing Finance Agency is officially over.
Watt became the first Senate-confirmed director of the FHFA back in 2014, and led the FHFA for five years, but his term as FHFA director ended on Jan. 6, 2019.
Going forward, the FHFA will be led by Comptroller of the Currency Joseph Otting, who was picked by President Donald Trump to serve as acting director of the FHFA while Mark Calabria is awaiting Senate confirmation to replace Watt on a permanent basis.
In December, Trump nominated Calabria, who serves as Vice President Mike Pence’s chief economist, to replace Watt as FHFA director.
But as Calabria is waiting for Senate confirmation, Otting has officially replaced Watt as the leader of the agency overseeing Fannie Mae and Freddie Mac.


TLTA has scheduled a variety of live webinars for 2019! Register now, or explore our library of more than 80 On-Demand webinars and videos covering the title industry topics you need!