December 23, 2020
EDITOR'S NOTE: This is the final issue of Dateline for 2020. The next issue will be published on Wednesday, Jan. 6, 2021. Thank you for the opportunity to continue sharing news you can use. We hope you enjoy a refreshing holiday break and a healthy, prosperous new year!
In This Issue:
- TLTA Advocacy Update
- U.S. House Passes COVID Relief Bill
- Town Halls to Continue in 2021. What Speakers or Topics Should We Cover?
- FHFA Proposes Liquidity Requirements for GSEs
- 2020 Texas Land Title Institute: It's Not Over Yet!
TLTA Advocacy Update
TLTA | Dec. 22, 2020
TLTA Board of Directors Approves Amicus Letter Submission
At its meeting Dec. 22, the TLTA Board of Directors
voted to submit an amicus letter to the Texas Supreme Court in the case of Concho Resources, inc. et al. v. Marsha Ellison, d/b/a/ Ellison Lease Operating
. This action, recommended by TLTA's Judiciary Committee
chaired by Leslie Johnson, urges the Texas Supreme Court to uphold the Appellate Court decision and affirm the following principles and policies:
- The uniform interpretation of real property records is essential to the real estate, title and oil and gas industries. The positions urged by the Appellants and the other amici would result in significant damage to well-established Texas precedent.
- The Court of Appeals correctly interpreted the 1927 deed as including all land north of the road notwithstanding the recital as to amount of acreage, in accordance with the Texas Supreme Court’s opinion in Stribling v. Millican DPC Partners, LP, 458 S.W.3d 17 (Tex. 2015).
- An unambiguous instrument cannot be retroactively changed by a subsequent boundary agreement, particularly one containing no granting clause and not signed by all persons in title.
- A subsequent unrecorded letter agreement cannot affect record title.
- TLTA would express no opinion as to other issues in this case but would urge the Court to preserve the long-standing law regarding deed interpretation and conveyancing in order to preserve stability in this important area.
TDI Extends Modified Requirements for Sworn Statements
The Texas Department of Insurance will allow filings to be submitted without sworn statements, affidavits, and notarizations through March 31, 2021. View the modified filings chart
for a complete list of temporary changes due to the COVID-19 outbreak.
TDI Statistical Data Report for 2018, Data Call for 2019
We can expect to see 2018 statistical data published early in 2021. No date has been set yet for collection of 2019 statistical data.
We remain in close communication with TDI about this. We are monitoring the 2019 data call closely, and as soon as it is issued, you’ll receive notification from us.
U.S. House Passes COVID Relief Bill
James E. Hyland, TLTA Federal Legislative Counsel | Dec. 21, 2020
On Monday, Dec. 21, around 9 p.m., the U.S. House passed the omnibus bill that would provide a stimulus for the economy related to COVID. The bill will also fund the government through the Fiscal Year 2021 and provide relief for certain expiring tax provisions. The bill is expected to pass the Senate, and the President is expected to sign it into law all within a very short period.
The bill is over 5,000 pages, but in the bill, the PPP program will be extended and have over $284 billion available in new lending authority. Loans are forgivable. Second loans for businesses are included in the new legislation and new uses for the loans are expanded. In an important late development, expenses paid with PPP loans will be also deductible as expenses for a business.
Americans making less than $75,000 (or couples at $150,000) will receive stimulus checks for $600 per person. Unemployment benefits will receive a federal add on of $300 a week through March 14. PPP is also extended to non-profits, local TV, radio and newspapers.
Of interest to the Texas economy, the bill is set to provide $15 billion for airline payroll support, including $1 billion for airline contractors. Restaurants will also get indirect relief via the tax code with deductibility of business meals and be eligible for slightly higher PPP loans.
Town Halls to Continue in 2021. What Speakers or Topics Should We Cover?
More Town Halls are being scheduled in 2021. What speakers or topics should we cover? Have ideas? Send them to us
TLTA town halls have traditionally been a roadshow with our current association president (and TLTA staff in tow) traveling the state to gather member feedback, make new connections and more. Because we can’t be in your community this fall, TLTA President John Bruce and your team at TLTA are doing something new instead.
Keep an eye out for emails about upcoming Town Halls in 2021. All virtual Town Hall sessions will be available to all TLTA members free of charge. You won't want to miss them!
FHFA Proposes Liquidity Requirements for GSEs
HousingWire | Dec. 17, 2020
The Federal Housing Finance Agency is looking to finalize a rule that would require Fannie Mae and Freddie Mac to hold higher levels of liquidity to protect against any sudden shortfalls, creating a further $10 billion cushion for the publicly held mortgage companies.
The measure – which is now up for final comment after previously having been implemented – also creates minimum funding requirements for the government sponsored enterprises.
The FHFA said the liquidity rule would provide additional security to the public in the wake of the 2008 financial crisis, when the mortgage giants did not possess enough truly liquid access or have consistent access to longer-term unsecured debt markets.
Read More »
2020 Texas Land Title Institute: It's Not Over Yet!
Our 2020 Virtual Land Title Institute may have been our best Institute yet!
First, a huge shout out and thank you to Roland Love for chairing our TLTA Institute Committee
. Texas Land Title Institute would not have been possible without the good work of Roland and all the industry volunteers serving on the committee. Kudos for the smooth transition to a virtual format!
A big round of applause is due, too, to our presenters for all their hard work and making time to be a part of this year's Institute. Thank you for sharing your subject matter expertise with us!
We're also so grateful for our generous sponsors, without whom Institute would be lost. If you haven't already done so, please visit the Institute Sponsor Gallery on the 2020 Virtual Institute Homepage and make sure our sponsors know we love them!
But wait – It's not over yet!
All presentations and CE Hours are available anytime, on-demand through Jan. 30, 2021. Start, stop, pause, rewind - you're in control as you learn and earn CE on-demand.
Learn More About Texas Land Title Institute »
Register Now »
In addition to live webinars held throughout the year, you have access to our library of more than 80 On-Demand webinars and videos covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends!
Escrow Officers: If Your License Expires This Month, Schedule Your CE Hours Now to Make Sure All Is in Order Before End of Year
If you're an escrow officer with a license expiring this month, please be aware that TLTA will be closed Dec. 31. If you'll need CE hours to complete licensing requirements, we suggest you order your on-demand courses now to ensure you have the login and password you'll need to access the materials.
Have questions? Email us