February 20, 2013

Aaron Day
Director of Government Affairs and Counsel




TDI Holds Rate Hearing in Austin
TDI hosted a hearing yesterday in Austin to consider the request by TLTA to increase the Basic Premium Rate. The hearing came after three informal public meetings during which TLTA, the Office of Public Insurance Counsel (OPIC) and Texas Department of Insurance staff discussed and analyzed various rate recommendations and considerations. At yesterday’s hearing, there was brief summary testimony from each of those groups and their expert witnesses. TLTA placed into record these exhibits, which include a joint recommendation from TLTA and OPIC for a 3.8% rate increase. OPIC also testified that the proposed rate adjustment was reasonable, and the TDI staff actuary said that it was reasonable and within their range of recommended rate changes.

No decision was rendered at the hearing. According to the notice of hearing, the Commissioner of Insurance will rule on this matter and issue an order by March 26, 2013. We will notify you as soon as a ruling has been made.

TLTA Supports Legislation Filed by Related Industries
The TLTA Board of Directors recently voted to take a position in support of several pieces of legislation being worked on by related industry groups.

The TLTA Board voted to support a reverse mortgage constitutional amendment that would authorize reverse mortgage loans for the purchase of homestead property and amend other requirements in connection with a reverse mortgage loan. You may view more about this legislation, including its current status, here. The TLTA Board also voted to support property tax lender lien legislation that would reform procedures relating to the transfer of an ad valorem tax lien, which you may read more about here.

We continue to work with stakeholders and related industries to seek for support for legislation that is part of TLTA's affirmative agenda, which you may read about here.

As Water Plan Moves Toward Reality, Who Benefits?
Austin American-Statesman | February 18, 2013

With the effects of drought in mind, legislative efforts to kick-start water infrastructure projects outlined as needed in a state water plan — reservoirs, pipelines and the like — have taken on the weight of important civic work. In the legislative imagination, it is Texas’ version of the creation of Dutch dikes. “There’s definitely a rah-rah feel for the state to do something,” said Mary Kelly, who is head of the Austin environmental consultancy Parula and who has long worked on water issues. Read More »

Senate Banking Committee Holds Oversight Hearing on Dodd-Frank Act
American Land Title Association | February 19, 2013
Last Thursday, the Senate Banking Committee held its first oversight hearing on the Dodd-Frank Act in 2013. While the hearing focused on a number of Dodd-Frank related issues, of interest to the title industry was when the Chairman, Tim Johnson (D-SD), asked witnesses if there was anything in the law that prohibited the Qualified Residential Mortgage from being defined the same as the Qualified Mortgage. The witnesses all agreed that regulators should strongly consider aligning the two rules to prevent either from restricting access to credit to low income borrowers. Ranking Member Mike Crapo (R-ID), focused his questioning on the need to perform meaningful cost-benefit analysis to understand better how these rules will affect the economy as a whole, how the rules interact with one other, and how the rules impact our global competitiveness.

Basic Manual Updates Coming Soon — Subscribe Now!
If you subscribed to TLTA's paper update service in the past, you'll now need to subscribe to our new Basic Manual Online to receive automatic electronic updates when they occur. Have peace of mind knowing your manual is always up-to-date, and enjoy the great online features to help in your business activities.

We are offering discounted pricing for bulk orders, so everyone in your office can have access to the Basic Manual Online. Try the demo version here and then subscribe here to ensure you stay compliant!   

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Texas Land Title Association, 1717 W. 6th St., Suite 120, Austin, TX, 78703
Phone 512.472.6593 |  Fax 512.472.5931
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