TLTA President's Message

 

Joe Grealish
TLTA President

 

 

 

Dear ,

It's been a very busy fall at TLTA!

Just a few weeks ago, Texas Department of Insurance Commissioner Julia Rathgeber signed a final order on 71 agenda items heard in the Feb. 28, 2012, Rule Hearing. Many of the items are housekeeping items, but there are also several very significant changes, including items addressing agency solvency requirements, agent licensing requirements, continuing education requirements and changes to rules and forms. Most of the changes will go into effect Jan. 3, 2014, with the exception of the agent minimum capitalization requirements that become effective July 3, 2014.

TLTA has put together a series of webinars to provide you with an in-depth understanding of the entire rule order. For each webinar, related changes have been grouped together, and expert industry and TDI speakers have been lined up to present these important topics. Read more about them here, and determine who in your office needs to participate in each webinar so you can be ahead of the curve.

This final Rule Order also means several changes are finally on the way to the Basic Manual. Most of these changes will go into effect Jan. 3, 2014, right after the busy holiday season. We all know how important it is to stay compliant with TDI regulations, so go ahead and check that off your list now by signing up or renewing today for the 2014 version of TLTA's Basic Manual Service. It's important to note that only those signed up for the service for next year will automatically receive the electronic updates since the changes happen after the New Year. Also, if you sign up now, as a bonus, you'll receive free access to the Basic Manual online through the end of the year. If you're one of those folks who still prefers using a print version of the Basic Manual, you can order that too! Check out the options here.

We are also expecting the Consumer Financial Protection Bureau (CFPB) to issue its final rule on combined mortgage disclosures as early as next week. After the rule is issued, TLTA's Federal Issues Committee will analyze it and develop programming to help you prepare for its implementation. Watch for updates in your inbox from TLTA with more information.

TLTA is also representing the industry Friday at a TDI hearing to determine the recoupment fee to be charged in connection with the failure of Southern Title Guaranty Company. Agents will be required to collect this fee in a similar manner to the guaranty fee beginning in 2014. Although this is referred to as a "rate hearing," the purpose of the Friday hearing is to simply establish the amount to be charged for a guaranty assessment recoupment fee in connection with the failure of Southern Title Guaranty Company and not to review the basic premium rate.

TLTA's Legislative and Regulatory Committees also met recently and have broken into subcommittees to further study issues that TLTA may want to take official positions on. Our advocacy team is also carefully monitoring several national issues, such as the increased requirements by lenders and the legislation aimed at reforming Fannie Mae and Freddie Mac. Stay tuned into TLTA's newsletter for up-to-date information about those issues and more.

In other big news, TLTA is proud to debut a completely revamped website. The staff has been working hard for the better part of a year on this new design, and I think you'll find much easier to navigate and find the things you're looking for quickly. Take a look, click around, and let us know if you have any suggestions for improvement here.

Finally, November marks the TLTAPAC's annual online auction, TLTAbay, which is open until Thursday, Nov. 14. If you've ever participated in TLTAbay, you know how fun it is to bid on items — especially when you get into a bidding war with friends! Proceeds from the auction benefit the TLTAPAC, which is dedicated to promoting the Texas land title insurance industry to members of the Texas Legislature and other elected officials. Participating in TLTAbay is a great way to make your PAC contribution while getting something in return. There are still several items available for far less than their value, including golf packages and registrations for TLTA events — go check out the items and bid on something today!

Sincerely,


Joe Grealish
TLTA President


 

 

Share This E-Mail:
   

Texas Land Title Association
1717 W. 6th St.
Austin, TX 78703
Phone 512.472.6593
FAX 512.472.5931

To unsubscribe from future emails,
click here.

 


If you would prefer not to receive emails from us, go here.
Please send any comments about this email to tlta@tlta.com

Informz for iMIS