October 16, 2019

In This Issue:

  • Secret Audio Recording of Texas House Speaker Released
  • Kraninger to Deliver CFPB's Semi-Annual Report to House Financial Services, Senate Banking Committees This Week
  • TDI Job Opening: Title Insurance Specialist
  • CFPB Issues Final HMDA Rule
  • FEMA Bought 44,000 Flood-Prone Homes. They May Have to Buy Millions More

Secret Audio Recording of Texas House Speaker Released

Teresa Woodard - WFAA | Oct. 15, 2019
A conservative activist on Tuesday released what he says is a secretly recorded conversation with Texas House Speaker Dennis Bonnen. 

On the recording, Bonnen and state Rep. Dustin Burrows, R-Lubbock, the former chair of the House Republican Caucus, can be heard making disparaging remarks about fellow lawmakers.

According to Michael Quinn Sullivan, CEO of Empower Texans, the audio is from a June meeting with the speaker and Burrows. Sullivan published 64 minutes of audio on his website. What he says is an unedited version of the recording is at the bottom of this page. 

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Kraninger to Deliver CFPB's Semi-Annual Report to House Financial Services, Senate Banking Committees This Week

TLTA | Oct. 16, 2019
CFPB Director Kathy Kraninger will testify on the CFPB’s semiannual report at 10 a.m. EST Oct. 16 before the House Financial Services Committee, and at 10 a.m. EST Oct. 17 before the Senate Banking Committee.


TDI Job Opening: Title Insurance Specialist

TLTA | Oct. 1, 2019
The Texas Department of Insurance has a job opening that might interest you or someone in your professional network. The agency is hiring a "Title Industry Specialist" with meaningful title insurance experience. 
 
Read TDI's Posting and Apply »
 
If you have questions, please contact TDI's David Muckerheide


CFPB Issues Final HMDA Rule

HousingWire | Oct. 10, 2019
Under the new rule, the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA will be extended for two years until Jan. 1, 2022.
 
The current temporary threshold is 500 open-ended lines of credit. For data collection years 2020 and 2021, financial institutions that originated fewer than 500 open-end lines of credit in either of the two preceding calendar years will not need to collect and report data with respect to open-end lines of credit.
 
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FEMA Bought 44,000 Flood-Prone Homes. They May Have to Buy Millions More

Bloomberg | Oct. 9, 2019
As the climate crisis worsens, more Americans will be forced from their homes. Many won’t be able to afford it, and the U.S. isn’t prepared for a massive, government-subsidized migration away from flood-prone areas, according to the first comprehensive analysis of Federal Emergency Management Agency data.

In the end, it is the nation’s poorest who may be left behind.

Americans have voluntarily sold more than 43,000 properties in high-risk areas to the government since 1989, according to a new analysis published Wednesday in Science Advances. FEMA’s Hazard Mitigation Grant Program has bought properties sprinkled among one-third of all U.S. counties, spread over 49 states, Puerto Rico, Guam and the U.S. Virgin Islands. After the properties are bought, the structures are demolished and the land remains open, ready to absorb future flood waters.

This 30 year-trickle is nothing compared with the great climate exodus to come. The potential number of homes that may be abandoned is staggering, said A.R. Siders, a co-author and assistant professor at University of Delaware’s Disaster Research Center. “There are 49 million housing units in at-risk areas on the U.S. coast, and over $1 trillion worth of infrastructure within 700 feet of the coast,” she said. The government isn't prepared to relocate even one-tenth of that, if it needed to, Siders said.

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