September 12, 2024

In This Issue:

  • TDI Issues Call for 2023 Agent Statistical Data
  • Texas Legislature Update: TLTA Testifies at House Business and Industry Committee on Deed Fraud; Lt. Gov. Issues Second Round of Interim Charges
  • In Memoriam: William Jackson “Jack” Rattikin Jr.
  • Basic Manual Update Series - Countdown to November 1, Installment 6: The World of Prior Surveys and the “Area And Boundary” Exception to Title Policy Coverage
  • Emails Claiming to Sell TLTA Contact List Are a Scam – Don’t Click or Reply

TDI Issues Call for 2023 Agent Statistical Data 

TLTA | Sept. 9, 2024
The Texas Department of Insurance issued a call for agent statistical data on Sept. 6 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 2023. You must respond to this data call using the provided instructions and forms no later than Oct. 14, 2024.
 
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty Actuarial Office by phone at 512-676-6693 or by email at [email protected].

 TLTA Editor's Note: TLTA's Education Team is working on a new webinar to help agents complete their stat reports. Keep an eye out for an email with more info in the coming days!
 

Texas Legislature Update: TLTA Testifies at House Business and Industry Committee on Deed Fraud; Lt. Gov. Issues Second Round of Interim Charges

TLTA | Sept. 12, 2024

House B&I Hearing on Deed Fraud

The Texas House Business and Industry Committee met this week to discuss interim charges, including the following charge:
 
Examine the proliferation of fraudulent deeds purporting to convey the sale or transfer of real or personal property. Recommend policy changes that will better protect potential victims from this illicit activity.
 
TLTA Board Member and Judiciary Chair Committee Chair Leslie S. Johnson testified at the hearing. You can listen to her testimony by clicking the image below and forwarding to time stamp 2:08:08.
 

Listen to Leslie S. Johnson testify on deed fraud at House Business and Industry Committee meeting by forwarding to timestamp 2:08:08

Lt. Gov. Releases 2nd Round of Interim Charges

Lt. Gov. Dan Patrick this week issued a second round of interim charges for Texas Senate Committees to consider as they prepare for the 89th Legislative Session, which begins this January 2025.
 
At least two of the new charges address issues relevant to our industry: 
 
Non-Compete Agreements: Examine the impact of the Federal Trade Commission’s final rule on non-compete agreements on Texas employers including, but not limited to, contractual exceptions and limitations on independent contractors, for-profit and non-profit businesses, and senior executives. Identify ways to address balancing legitimate business interests of employers while also protecting employment mobility, increasing innovation, and fostering new business formation. Report on whether any changes should be made to existing law on the criteria, procedures, and remedies on enforcing noncompete and alternative agreements.

Financial Crimes: Evaluate financial criminal activity trends in Texas, including the fiscal impact on consumers, financial institutions, local economies, and businesses. Determine the extent of payment fraud by transnational criminal gangs. Study the impact of the Financial Crimes Intelligence Center (FCIC). Make recommendations that enhance penalties for check and payment fraud and identify ways to strengthen financial crime investigations in Texas.
 
Review the Lt. Gov.'s statement on new charges »
Review the new charges »
Review TLTA's ongoing work with the Texas Legislature interim charge process »

Senate Finance Committee Met to Discuss Property Taxes

The Texas Senate Finance Committee met last week to consider two of the committee's interim charges:

  • Monitor implementation of SB 2 (property tax relief bill passed last year)
  • Continue cutting property taxes
Review the hearing notice »
Review the witness list »
Watch a recording of the hearing »
 
This property tax-focused hearing is part of the Texas Legislature's interim charge process during which lawmakers are reviewing implementation of recently passed bills, as well as studying ideas that could lead to legislation when legislators meet again for their 89th Session in January 2025.
 
Your TLTA Advocacy Team remains engaged in the interim process, monitoring discussion related to property rights and other issues that could impact our industry, testifying at hearings, and communicating with lawmakers about developing sound public policy that will best serve Texas consumers and the real estate marketplace.
 

TLTA Legislative Committee volunteers hard at work

TLTA's Legislative Committee, which is chaired by Steve Streiff, develops policy proposals and makes recommendations to TLTA's Board of Directors regarding TLTA's affirmative legislative agenda and the organization's position (if any) of legislation being considered at the state capitol. There are established subcommitees for common legislative issues, and special subcommittees related to hot topics impacting our industry are formed as needed.
 
The Legislative Committee met 3 times in 2024, most recently on June 20, and will meet again Sept 25. Here's an accounting of recent legislative subcommittee meetings: 
 
  • Quitclaims-Tax Foreclosures Subcommittee: April 11
  • County Clerk Recording Fee: Aug. 23
  • Memorandum of Contracts: Aug. 26
  • MUD and PID Notices: Aug. 22
  • Wind Rights: Sept. 5

In Memoriam: William Jackson “Jack” Rattikin Jr.

TLTA | Sept. 12, 2024
It is with great sadness that we report the passing of Jack Rattikin Jr., former TLTA President (1974-1975), 1964 TLTA Title Person of the Year, Honorary TLTA Member, and past American Land Title Association (ALTA) President (1984-1985).
 

William Jackson “Jack” Rattikin Jr.
 
Jack passed away peacefully on September 5, 2024, at the age of 90, leaving behind a legacy of leadership and service to the title industry that will be remembered for generations.

Read More of TLTA's Tribute »
Read His Official Obituary »
 

Basic Manual Update Series - Countdown to November 1, Installment 6: The World of Prior Surveys and the “Area And Boundary” Exception to Title Policy Coverage

TLTA | Sept. 12, 2024
On May 14, 2024, the Texas Department of Insurance published a proposal to update, correct, and clarify rules and forms in the Basic Manual. The public comment period has passed. A final adoption order will be issued with a Nov. 1 effective date.
 
To ensure TLTA members are prepared for these upcoming Basic Manual changes, we launched a Dateline series, Basic Manual Update - Countdown to Nov. 1, to provide detailed overviews of the modifications that will be implemented in the Basic Manual starting Nov. 1.
 
This multi-part series covers revised rules and forms, helping you understand and implement changes by the November 1 effective date to ensure you and your business are in compliance with state regulations. We are grateful to TLTA Regulatory Committee Chair Roland Love for producing this series, as well as the webinar that you will find below.
 
Learn more about TLTA's role in the development of the new rules being finalized by TDI for implementation in November. 
 
Read installment 6 of this series below:
 

 
Installment 6
The World of Prior Surveys and the “Area And Boundary” Exception to Title Policy Coverage
by Roland Love, TLTA Regulatory Committee Chair
 
The Owner’s Policy T-1 provides in Covered Risks that the title insurance company insures against loss or damage sustained or incurred by the Insured by reason of:
 
Read Installment 6 »
Read earlier installments in this series »
 
Looking for additional resources on Basic Manual changes to be implemented Nov. 1? Check out our on-demand webinar.
 
Watch our latest on-demand webinar, 2024 Basic Manual Changes, for a detailed overview of the upcoming rule and form changes presented by TLTA's Regulatory Committee Chair Roland Love.
 
Is your team "all-in" for TLTAPAC? See the list of title companies who've already made the "all-in" commitment. Click here:

Emails Claiming to Sell TLTA Contact List Are a Scam – Don’t Click or Reply

TLTA | Aug. 28, 2024
Some TLTA members have reported receiving emails that claim to be selling TLTA contact lists (here’s an example):
 

 
These emails are a scam. Any links they contain should not be clicked, as they likely open the door to malicious software.  
   
Additionally, these emails should not be replied to. TLTA does not sell members’ contact information, and any info third-parties claim to be TLTA-related is fraudulent.  
   
If you are in the market for B2B marketing help, research vendors by first talking to other industry professionals. Responding to a cold call via email purporting to deliver something that seems too good to be true should be avoided.  
   
As always, if you see something strange that claims to be associated with TLTA, please share it with us, and we’ll be happy to review and advise you regarding its validity.