August 12, 2021

In This Issue:

  • REMINDER: TDI Agent Statistical Data Reports Due Tomorrow, Friday, Aug. 13 – On-Demand Webinar Available to Walk You Through Completing Your Report – Be in Compliance
  • ICYMI: TLTA Legislative Update for 87th Regular Session Available Now; Includes Effective Dates of New Laws Impacting Title Industry
  • CFPB Issues Interpretive Rule for the 2021 Juneteenth Federal Holiday

REMINDER: TDI Agent Statistical Data Reports Due Tomorrow, Friday, Aug. 13 – On-Demand Webinar Available to Walk You Through Completing Your Report – Be in Compliance

TLTA | Aug. 12, 2021
The Texas Department of Insurance sent its 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 tomorrow, Friday, 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. 
  
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty - Actuarial by phone at 512.676.6687 or by email at PCDataCallTitle@tdi.texas.gov.
 
Webinar Produced by TLTA's Education Team to Walk You Through Completing Your Experience Report Now Available On-Demand
 
In this webinar, TDI Experience Reporting - Industry Financial Reporting, our team of experts walk you through the Texas Title Insurance Experience Report and provide a clear, basic overview for finding the information you need. 
 
Purchase On-Demand Webinar »
 

ICYMI: TLTA Legislative Update for 87th Regular Session Available Now; Includes Effective Dates of New Laws Impacting Title Industry

TLTA | Aug. 12, 2021
The Texas Legislature's 87th Regular Session adjourned May 31, and Texas lawmakers passed legislation that could impact your operations. Our 2021 Legislative Report includes effective dates for new laws of which you should be aware, title-specific insights on the legislative session, and more:
  • Summary of the 87th Session of the Texas Legislature
  • Status of TLTA's affirmative legislative agenda items
  • Analysis of bills passed by the Texas Legislature that will impact our industry
  • Review of other bills we monitored
  • Recognition of the legislators and industry volunteers who made this session a success for our industry
Read Our 2021 Legislative Report »
 
TLTA Editor's Note: Legislative Committee Chair Steve Streiff, Regulatory Committee Chair Roland Love and TLTA Director of Government Affairs and Counsel Aaron Day delivered a live, deep dive legislative report at our Annual Conference and Business Meeting this week. 
 
 

TLTA Legislative Committee Chair Steve Streiff and Director of Government Affairs and Counsel Aaron Day discuss legislative session and new laws impacting industry
 

TLTA Regulatory Chair Roland Love moderates legislative update discussion
 
 

CFPB Issues Interpretive Rule for the 2021 Juneteenth Federal Holiday 

ALTA  | Aug. 10, 2021
On Aug. 5, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule to address lingering uncertainties surrounding the creation of Juneteenth as a holiday. Because the holiday was first celebrated as an official national holiday on June 18, 2021 (the 19th was a Saturday), it created questions regarding certain timing requirements for closings that occurred that week and the week after. 
 
Per the three-day advanced disclosure rule under TRID and the right of recission rule under TILA, federal holidays are not typically treated as a business day for the purposes of counting those periods. However, the late creation of the holiday, upended much of those calculations. Under the interpretative rule, to determine whether June 19, 2021, counts as a business day or federal holiday depends on when the relevant time period began. If the relevant time period began:
  • On or before June 17, 2021, then June 19 was a business day.
  • After June 17, 2021, then June 19 was a federal holiday.

Additionally, the interpretive rule explains that creditors are not prohibited from providing longer time periods than required, so if a time period began on, or prior to, June 17, 2021, creditors could still treat June 19, 2021, as a federal holiday. This should help lenders and quality control providers as they look to sell the loans closed around the holiday on the secondary market.
 
Read the Press Release From CFPB » 


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!