May 19, 2021

In This Issue:

  • TLTA Legislative Update
  • Other Advocacy Updates From TLTA: Texas Title Industry Connecting With Congress During ALTA's Advocacy Summit This Week
  • Senators Urge CFPB to “Reconsider” QM Delay
  • Where Texas A&M Real Estate Economist Jim Gaines Sees Ups - and Downs - in the Year Ahead

TLTA Legislative Update

TLTA | May 19, 2021


Less than two weeks remain in the 87th Legislative Session, and some major legislative deadlines passed last week, killing thousands of bills in the process. We're grateful to report that some of the good bills (i.e., the bills TLTA is actively working to pass this session) made the cut and are in great shape, including SB 885, Sen. Hughes' Quitclaim Bill, which has been passed by both the Senate and House and is now headed to Gov. Abbott's desk. 
 
The other bill we are working to pass this session, HB 3115 by Rep. Shine, the Homestead Certainty Bill, was passed by the House Tuesday, May 11, and had a hearing in the Senate Business and Commerce Committee on May 18. The Texas Association of Builders and the Independent Bankers Association of Texas joined TLTA's Aaron Day, registering in favor of the bill during the hearing. The bill was left pending, which was expected. 
 
Also heard at yesterday's hearing and left pending was HB 2240, the Good Funds Bill on which TLTA's Board adopted a neutral position at the beginning of the legislative session after the bill author agreed to address some fundamental concerns we had about the bill language. As the bill progressed, the bill author incorporated additional changes to address industry and other stakeholder concerns both in the version adopted by the House and the committee substitute that the Senate Business and Commerce Committee is now reviewing.

For your reference, here's our Master Legislative Tracking List and Action Report, which was updated today, April 28. This report includes updates on the bills TLTA is trying to pass this session, updates regarding other bills on which TLTA's Board of Directors has taken positions, as well as a link to the larger list of more than 150 bills on which we are working this session. Click the image to access this helpful tool:
 
 
 
Only 20 days remain in the 87th Legislative Session, but special sessions are expected due to redistricting and other issues. 
 

Bills TLTA Is Trying to Pass

The bills TLTA is trying to pass during the 87th Legislative Session were approved by TLTA's Board of Directors  as recommended by our Legislative Committee , which is chaired by Steve Streiff. TLTA is seeking passage of two statutory changes that would improve real estate transactions: In addition to the bills we are trying to pass listed above, you can review our broader Master Legislative Tracking List and Action Report, which includes other bills on which TLTA's Board has taken positions, as well as a link to a list of the more than 150 bills we are working this session. We have been actively addressing concerns and seeking improvements to these bills to avoid unintended consequences and preserve our daily functions as title agents and underwriters.  

Questions about TLTA's legislative process and how you can get involved?

 The TLTA Legislative Committee, our Local Legislative Liaisons, our Grassroots Network and our PAC Board of Governors are all part of our team of engaged legislative advocates. Learn More About TLTA's Legislative Process and How You Can Get Involved »

Other Advocacy Updates From TLTA: Texas Title Industry Connecting With Congress During ALTA's Advocacy Summit This Week

TLTA | May 19, 2021
ALTA's Advocacy Summit is happening virtually in D.C. this week, and a large contingent of TLTA members and staff are participating in this impactful annual advocacy event with federal lawmakers and staff. 
 
While most states have a single day of activities, our state's large congressional delegation necessitates a multi-day commitment to ensure we visit with as many of Texas' elected officials as possible.
 
We will provide more detail on who we visited with and what we discussed in next week's Dateline.
 
Learn More About ALTA Advocacy Summit 2021 »
 

Senators Urge CFPB to “Reconsider” QM Delay

HousingWire | May 12, 2021
Compliance attorneys and mortgage industry lobbyists aren’t the only ones wishing the Consumer Financial Protection Bureau (CFPB) would proceed with the General Qualified Mortgage Final Rule as it had initially planned.

The same day the CFPB announced plans to delay the compliance date, Sens. Mark Warner (D-VA) and Tim Scott (R-SC) fired off a letter to CFPB Acting Director Dave Uejio, urging the agency to “reconsider” the move.
 
Read More »
 

Where Texas A&M Real Estate Economist Jim Gaines Sees Ups - and Downs - in the Year Ahead

Houston Chronicle | May 10, 2021
Jim Gaines has been tracking the state’s real estate as an economist with the Texas Real Estate Research Center at Texas A&M University since 2005. Before he joined the center, Gaines spent 16 years as a real estate consultant for the accounting firms KPMG International and Arthur Andersen and five years as the president of Rice University’s urban research center, the Rice Center. His PhD is from the University of Georgia.

As the economy begins to recover from a recession that pummeled commercial tenants and rents and catapulted home sales and prices, we ask how a recovery may unfold in the real estate industry.
 
Read the Interview »
 
Editor's Note: While we generally refrain from sharing market speculation in Dateline, some economists are worth noting, and we count Dr. Gaines among them. As you may recall, Dr. Gaines has been a featured speaker at past TLTA events, including Institute and our Annual Conference, and we're pleased to hear he has semi-returned from retirement to continue his good work at A&M.
 
If you haven't registered for this year's Annual Conference and Business Meeting live and in-person in Round Rock Aug. 9 - 11, 2021, you can register now. As always, our conference program will feature valuable market insights, legislative updates, and more.



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!