Issues Library
Learn more about the issues that regularly impact the Texas land title industry. Select an issue below to view detailed news articles, reference materials and educational opportunities.
1031 Like-Kind Exchanges – Preserving
Limiting access to 1031-Like-Kind Exchanges is being considered in tax reform legislation. Due to the many benefits afforded, the current law tax treatment for Section 1031 real estate like-kind exchanges must be preserved.
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Agent Solvency Rules and Regulations
Title agents must comply with minimum capitalization requirements established in HB 4338 in 2011.
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Anti-Rebating and Marketing Compliance
Procedural Rule 53 (P-53) prohibits certain marketing activities considered to be rebates in the title insurance business.
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CFPB Combined Mortgage Disclosure and Settlement Form Proposal
The Dodd-Frank Act requires the Consumer Financial Protection Bureau (CFPB) to reform the Truth in Lending Act (TILA) and combine those disclosures with the RESPA requirements governing the Good Faith Estimate (GFE) and HUD-1 Settlement Statement.
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Current Court Cases & Amicus Curiae Briefs
TLTA periodically files amicus curiae briefs in cases pertinent to the title insurance industry.
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Data and Consumer Privacy
Data and consumer privacy are being regulated inconsistently by the states and there is no uniform federal law addressing the issue. Texas has recently passed legislation requiring businesses to provide notice if they experience a breach and has established a special committee to study the issue.
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Digital Closing
Digital closings (eClosings) continue to be a rising trend in the marketplace. TLTA has introduced resources to help you navigate this new arena.
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GSEs: Fannie Mae, Freddie Mac
Congress and the Administration are working to reform the institutions that help fund mortgages in the United States.
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Guaranty Assessment Recoupment Charge
On Nov. 30, 2017, the TDI Commissioner issued an order setting a GARC fee of $4.50 to be collected on each owner and loan policy beginning Jan. 1, 2018.
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Home Equity Lending
Home equity lending regulations were adopted effective Jan. 8, 2004 to clarify and incorporate into regulations the Texas Constitution’s limitations on where home equity loans may be closed. The regulations were amended effective Nov. 26, 2020 to provide further guidance on what constitutes the “permitted” location. The Constitutional requirements can be found in Section 50(N) of the Texas Constitution.
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Lender Vetting of Title Agents
Some Texas title agents have been asked to pay a third party as a condition of doing business with certain lenders.
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Minerals Coverage
Minerals coverage is an issue frequently addressed by judicial, legislative and regulatory bodies.
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Money Laundering Regulations
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Payoff Statement – Proposed Changes for Uniformity
The Texas Department of Savings and Mortgage Lending, in coordination with the Texas Department of Banking and Office of the Consumer Credit Commissioner, published proposed revisions to the payoff statements used in Texas mortgage transactions. TLTA has sought the inclusion of additional information.
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Private Transfer Fees
Private transfer fees were once written into neighborhood deed restrictions and would typically throw 1 percent of a home's sale price back to the original developer each time the home changed hands over a period of 99 years. These fees (with limited exceptions) were banned in 2011.
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Public Improvement District Disclosure
Effective Sept. 1, 2021, every seller of a property that is subject to or part of a Public Improvement District (“PID”) is required to disclose to a buyer the existence of and certain details about the particular PID prior to execution of a binding contract, otherwise the buyer has the right to terminate the contract.
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Rate Review
Periodically the Texas Department of insurance holds title insurance rate hearings to review title insurance rates. The most resent hearings were held in 2019. Complete coverage of rate hearings is provided on TLTA's
TDI webpage .
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Remote Online Notarization
Remote Online Notarization (RON) statutes, which were originally passed in 2017, allow for use of new notary technology and were updated in 2019 to provide a safe, clear and consistent approach to paper filing Remote Online Notary-related and electronically signed documents to provide consumers across Texas access to this new technology.
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RESPA
In 2008, the U.S. Department of Housing and Urban Development (HUD) released its new Real Estate Settlement Procedures Act (RESPA) rule.
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Short Sale Affidavits
TLTA learned that settlement agents are sometimes asked to sign short sale affidavits. In 2012, the Texas Department of Insurance (TDI) Commissioner issued an order that signing these short sale affidavits is a violation of P-35.
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Statistical Codes
The Texas Department of Insurance held a hearing Dec. 19, 2019 to review the proposal to amend the Texas Title Insurance Statistical Plan via the addition of new stat codes for changes made to rules R-5 and R-8 when the new rate rule changes were adopted in 2019.
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TREC Contracts
The Texas Real Estate Commission (TREC) is the state agency that governs real estate practices in Texas. The commission sometimes modifies forms to be used in the real estate transaction modify them from time to time.
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TREC New Anti-Rebating and Marketing Rules
The Texas Real Estate Commission recently amended §535.148 (and made conforming changes to §535.220) to strengthen settlement service provider independence and provide clarity about consumer protection issues when a license holder pays funds to or receives funds from another real estate settlement service provider.
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TREC Form Changes - Option Fee
TLTA proposed changes to the Texas Real Estate Commission's (TREC) Broker Lawyer Committee regarding the option language and related procedures included in TREC contract forms. TREC has adopted changes to their residential contract forms with respect to the delivery of option fees. The updated forms become mandatory on April 1, 2021 but may be used on a voluntary basis after Feb. 19, 2021.
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TRID
The Consumer Financial Protection Bureau (CFPB) is seeking public comment on a planned assessment of the Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z)—or TRID rule.
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