July 28, 2021

In This Issue:

  • TDI to Lift COVID-19 Suspensions
  • TLTA Submits Follow-Up Amicus Letter to Texas Supreme Court in Concho v. Ellison
  • Compliance Alert - Live Webinar Tomorrow Walks You Through TDI Experience Reports Due Aug. 13
  • FHFA Eliminates Adverse Market Refinance Fee

TDI to Lift COVID-19 Suspensions

TLTA | July 22, 2021
The Texas Department of Insurance issued a bulletin July 22 announcing that Gov. Greg Abbott is rescinding suspensions of insurance-related statutes and rules issued in response to the COVID-19 pandemic, including the suspension of the two-signature requirement on escrow checks, effective September 20, 2021. This bulletin outlines actions the Texas Department of Insurance is taking to return to the ordinary course of business.
 
Learn More About the Statutory and Rules Suspensions Lifted and TDI Actions Taken »
 

TLTA Submits Follow-Up Amicus Letter to Texas Supreme Court in Concho v. Ellison

TLTA | July 28, 2021
On Dec. 31, 2020, TLTA submitted 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. 
 
The opinion produced by the Court in this case addressed TLTA's concerns, but TLTA's Judiciary Committee, upon reviewing the opinion, recommended a follow-up amicus letter requesting the Court limit its opinion to the parties and the issues before it and expressly state that the Boundary Stipulation in the case does not affect a real property conveyance that is binding on third parties. 
 
The Court’s opinion as currently worded leaves substantial confusion as to whether a contractual agreement, such as the Boundary Stipulation, with an off-record binding joinder, is sufficient as a real property transfer. Such confusion will do immense harm to the functionality and reliability of Texas’ recording system for real property records, which is not what the Court or the parties intended. Therefore, a clarification by the Court is warranted limiting this opinion to the Court’s contractual analysis and precluding any reading that allows parties to utilize an agreement and estoppel to transfer real property, whether retroactive or prospective.
 
Review TLTA's Follow-Up Amicus Letter to the Texas Supreme Court »
 
TLTA's Judiciary Committee, which is chaired by Leslie Johnson, is responsible for recommending to our board of directors TLTA's position on court decisions that could affect the defense of title companies and title agents.
 

Compliance Alert - Live Webinar Tomorrow Walks You Through TDI Experience Reports Due Aug. 13

TLTA | July 28, 2021
Be in compliance – TLTA can help! In this webinar, TDI Experience Reporting - Industry Financial Reporting, which will be held live tomorrow, Thursday, July 29, 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. 
 
This webinar was crafted in response to the Texas Department of Insurance's call for Agent Statistical Data on July 2 to each agency in Texas in accordance with Texas Insurance Code §2703.153, which 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. 
  
Please note that this call is for data collected during calendar year 2019. You must respond to this data call using the provided instructions and forms no later than Aug. 13, 2021. If the title agent wasn't licensed until 2020 or later, they are not required to report for this data call. If they were licensed in 2019, they are required to report.
 
Register for Tomorrow's Webinar »
 

FHFA Eliminates Adverse Market Refinance Fee

Federal Housing Financing Agency  | July 16, 2021
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will eliminate the Adverse Market Refinance Fee for loan deliveries effective August 1, 2021.
 
Learn 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!