March 23, 2022

In This Issue:

  • Results: TREC’s Wholesaling Survey for Title Professionals
  • Title Insurance Is Essential. Here’s Why.
  • ICYMI: CFPB News
  • Registration Open for Texas Land Markets Conference

Results: TREC’s Wholesaling Survey for Title Professionals

Texas Real Estate Commission | March 15, 2022
In February, TREC coordinated with the Texas Land Title Association (TLTA) to distribute a TREC-conducted survey specific to title company professionals regarding wholesaling in Texas.
 
Wholesaling is a model where a person enters into a contract to buy real estate and then sells their contractual interest in the property to a third party prior to closing. Individuals engaged in wholesaling are not required to hold a real estate license as long as they disclose the nature of their interest to potential buyers and do not otherwise engage in real estate brokerage activity.
 
Survey respondents were asked about their primary role in the title industry; the Metropolitan Statistical Area (MSA) of Texas in which they primarily work; the number of transactions they have been involved in where a party engaged in wholesaling; and a final open-ended comment section to provide their observations of wholesaling transactions in Texas.

Of nearly 400 respondents, 44% identified as escrow officers/closers and 25% identified as title agency owner or managers. The remaining respondents included legal counsel, underwriters, fee attorneys, escrow assistant, curative/backup closer, abstract/exam professionals, and other support staff.
 
Read Results From the Special TREC Survey for Title Professionals »
 
TLTA Editor's Note: TLTA is grateful to the team at TREC for the opportunity to help facilitate this research. In case you missed it, TREC also sent a general wholesaling survey to a broader group of real estate professionals and the results of that broader survey can also be found in this TREC article. 
 

Title Insurance Is Essential. Here’s Why.

Diane Tomb, ALTA | March 9, 2022
As we approach the beginning of home-buying season, with many buyers deciding on the purchase of their largest investment yet, title insurance is essential, giving homebuyers peace of mind and confidence that their property rights are protected.

The COVID-19 pandemic fundamentally changed the way we view our homes. Practically overnight, our homes became our workplaces, schools and gyms. But as our homes increase in value—to the market and, more importantly, to ourselves–it has never been more critical to ensure that our homes are protected.

While title insurance may be less understood by homebuyers, who may see it as just another fee involved in the closing process, it’s important for them to understand the many benefits title insurance provides and the dangers that can be incurred without it.

As an agent, it’s important you know the benefits of title insurance so you can educate buyers.

Read More »

ICYMI: CFPB News

CFPB Launches Initiative Targeting 'Junk Fees'

ALTA | March 7, 2022
 
CFPB launched an initiative to collect information on alleged junk fees that will help shape the agency’s rulemaking, guidance and enforcement priorities.
 
Within the eight-page request for information, the CFPB specifically mentions title insurance and closing costs in the section focused on mortgages.
 
Read More »
 
 

CFPB Redesigns Homepage

CFPB | March 15, 2022
 
At the CFPB, we believe all of our work should be rooted in research and experience from the very people we aim to serve. For many, our website’s homepage is the front door to the CFPB. For that reason, we are excited to unveil our homepage redesign, which benefited from extensive user research and testing.
 
Read More »
 

Registration Open for Texas Land Markets Conference

Texas A&M Real Estate Research Center | March 16, 2022
Registration is now open for the 31st Annual Outlook for Texas Land Markets. The two-day conference provides information on a variety of legal, economic, social and natural resources issues influencing current land market dynamics.

It will be April 28-29, 2022, at the Hyatt Regency San Antonio Riverwalk at 123 Losoya Street.

TREC Legal Update I will be offered after the conference on Friday, April 29. To attend the four-hour session, choose this optional course when you register for the conference.
 
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!