May 16, 2024

In This Issue:

  • TDI Formally Publishes Basic Manual Rulemaking Proposal
  • Texas Title Industry Connects With Congressional Delegation During ALTA's Advocacy Summit in D.C.
  • Supreme Court Upholds CFPB Funding, Saving Agency
  • Early Voting for Primary Runoff Election Starts Monday - Know Who Represents You

TDI Formally Publishes Basic Manual Rulemaking Proposal

TLTA | May 15, 2024
Yesterday the Texas Department of Insurance published a proposal to update, correct and clarify rules and forms in the Basic Manual. After a public comment period that ends July 1, a final adoption order will be issued with a Nov. 1 effective date. Note: This proposal does not address the Basic Premium Rate, but does include some endorsement rate changes. 

Next Steps
Following a public comment period with a July 1 deadline, a final adoption order will be issued. The effective date of these changes will be Nov. 1, 2024
 
Background
Most of the items in this proposal were generated by TLTA's Regulatory Committee and approved by TLTA's Board of Directors following many years of work. Our proposed rule package contained several improvements to current procedural rules, a modernization of certain fees, new endorsements, and plain language rewrites.  
 
We are grateful for the agency's good work, and we look forward to working with them to complete the final steps in this ongoing process.
 
Once the items are formally adopted, TLTA will offer comprehensive education to help you and your team with implementation of these extensive changes. A preview of all these changes will be presented at the TLTA Annual Conference June 3-5. 
 
Questions?
If you have questions or comments, please submit them to Aaron Day at [email protected] or call at 512.810.8800.
 
Review TDI's proposal »
Learn more »
 

Texas Title Industry Connects With Congressional Delegation During ALTA's Advocacy Summit in D.C.

TLTA  | May 16, 2024
TLTA members and staff traveled to Washington, D.C. to participate in ALTA's Advocacy Summit May 6-8, attending 25 meetings with members of the Texas congressional delegation and their staffs.
 
The following Texas title professionals participated as part of TLTA's delegation: TLTA President Rodney Anderson, Jim Dunkerley, Celia Flowers, Anna Grace Hallmark, April Gentry, Scott Gillen, Chad Hansen, J. Christopher Phillips, Brian Pitman, Paul R. Rodriguez, Michael L. Rubin, Mary Thomas, John T. Updegraff Jr., Eugene Urcan, Jonathan Wu, Blaine Yeager, Brooks Yeager, TLTA Vice President of Government Relations and Counsel Aaron Day, TLTA CEO Leslie Midgley, and TLTA Federal Counsel Jim Hyland.
 
TLTA's delegation met with members and staff from the following congressional offices: U.S. Sens. John Cornyn and Ted Cruz. U.S. Reps. Monica De La Cruz, Veronica Escobar, Sylvia Garcia, Marc Veasey, Jasmine Crockett, Pete Sessions, Keith Self, Wesley Hunt, Nathaniel Moran, Roger Williams, Dan Crenshaw, Lance Gooden, Lizzie Fletcher, Pat Fallon, Colin Allred, Jake Ellzey, Henry Cuellar, Beth Van Duyne, Vincente Gonzalez, Chip Roy, Randy Weber, Al Green, and Kay Granger.
 

From left tor right: Michael Rubin, TLTA President Rodney Anderson, Chad Hansen, Jim Dunkerley, Congressman Lance Gooden, Celia Flowers, Anna Grace Hallmark, John T. Updegraff Jr., Blaine Yeager, Brian Pitman, Brooks Yeager
 
All the meetings TLTA's delegation participated in during the advocacy summit were productive, and we took the opportunity to share with federal lawmakers our industry's strong concerns related to Fannie and Freddie’s proposed pilot program to waive title insurance and the FinCEN proposed rule, as well as CFPBs inclusion of title insurance in a study of junk fees. The meetings were extremely positive and we are confident that there is bi-partisan support for the Protecting Property Rights legislation, HR 5837, that would require a state regulated title insurance policy on all loans purchased by Fannie and Freddie. 
 
See More Photos From TLTA's Advocacy Meetings with Federal Lawmakers and Staff »
 

Supreme Court Upholds CFPB Funding, Saving Agency

Politico | May 16, 2024
The Consumer Financial Protection Bureau’s funding stream, which bypasses the congressional appropriations process, is constitutional, the Supreme Court ruled Thursday, saving the controversial agency from a potentially devastating blow.
 
Read More »

Early Voting for Primary Runoff Election Starts Monday - Know Who Represents You

TLTA | May 16, 2024
Most elections in Texas are decided during the primaries. It is crucial that our industry get out the vote for the elected officials who share our values, support our industry, and serve as good stewards of Texas' real estate marketplace. 
 
Early voting for the primary runoff election starts this Monday, May 20 and continues through this Thursday, May 24. If you voted in a party primary in March, you can vote only in that same party’s runoff. Voters who didn't cast a ballot in the primary can vote in either party’s runoff. Please make your plan to vote today, and encourage your network to do the same.
 
Who represents me?
Identify your local officials using this search tool from Texas Legislative Reference Library.
 
How do I know if one of my local officials is in a runoff?
See who's on the ballot with Texas Tribune's interactive tool.
 
Where to vote and other need to know info
Find polling location and more using these resources from TX Secretary of State's office. 
 
Primary Runoff Election dates to note on your calendar
May 20 - 24 - Early Voting
May 28 - Election Day