March 2008


REGULATORY NEWS

Commissioner Adopts Rule Changes with Multiple Effective Dates

As reported in  TLTA Breaking News on March 13, Texas Department of Insurance (TDI) Commissioner Mike Geeslin has officially adopted changes to the current rules and forms. Overall, there were 39 rule and 7 rate hearing agenda items adopted. Review adopted and amended agenda items.

Several Changes to Current Rate Rules Effective May 1, 2008

As we reported to the membership on February 27 in a Breaking News, all parties to the 2006 Biennial Rate Hearing, including the Texas Department of Insurance and OPIC, agreed to a Consent Order that provides there will be no change in title insurance rates; however several rate rule changes were adopted.  More Story

Guaranty Fee to Increase April 1, 2008

On January 28, 2008, the Board of Directors of the Texas Title Insurance Guaranty Association voted to increase the policy guaranty fee from $1.00 to $5.00 effective April 1, 2008.  More Story

Basic Manual Changes Coming Soon – Become a Subscriber and Save $$$$

The Commissioner has officially adopted numerous changes to rates, rules and forms therefore it is time to update your basic manual.  The easiest and most cost-effective way to update your manual is to subscribe to our subscription service.  More Story
P-24 and More:  Sign Up Today for TLTA's Teleconference on the New Rule and Rate Changes
So many changes, so little time—no problem! Get an overall update on all the new rules and forms over your lunch hour.  For a very low cost, TLTA is hosting a teleconference featuring industry experts to discuss all the new changes. The program will be offered on April 22 from 11:30 a.m. to 1:30 p.m. Click here to sign up today! 

LEGISLATIVE NEWS

Regional PREP Chapter Meets in Denton

The regional Property Records Education Partners (PREP) Chapter of the Property Records Industry Association held their quarterly meeting in Denton on March 13 to discuss issues related to real property records and the title insurance industry. More Story

2008 Primary Election Update 

The TLTAPAC contributed to 20 candidates who were all incumbents with legitimate opposition. At the end of the night, eight incumbents lost and one headed to a run-off. More Story

TLTA Legislative Committee at Work 

On February 21, the TLTA Legislative Committee met under the direction of Chair Roland Love to begin drafting an agenda for the upcoming Legislative Session ( view photos). Items discussed at the meeting include: privacy issues, mechanic lien contracts, mortgage fraud, mandatory sales price disclosure form and management certificates. More Story

TLTAPAC UPDATE

Be a Part of History! 

Support the TLTAPAC and also make history by joining the Centennial Club. To become a member, contribute $100 or more by June 30 and you will receive an exclusive ribbon at TLTA events and have your name inscribed on a special plaque that will hang in the TLTA office. More Story

TLTAPAC Annual Golf Tournament 

It is not too early to begin thinking about the annual TLTAPAC Golf Tournament on June 5, held in conjunction with the TLTA Annual Conference. This year's tournament will be held at the magnificently scenic Westin La Cantera Resort. More Story

FEDERAL NEWS 

HUD Proposes Major Changes to RESPA 

The US Department of Housing and Urban Development (HUD) has published a revised RESPA reform proposal that would make significant changes to the closing process. The proposed rule, which was published in the Federal Register on Friday, March 14, 2008, is the product of a three-year revision by HUD to simplify the transaction process and encourage consumer choice. There is a 60-day comment period with comments due to HUD by May 13, 2008.  More Story
 

TLTA Visits with Members of Congress

TLTA Members recently traveled to Washington, DC to attend the ALTA Annual Federal Conference ( view photos). Members included TLTA Federal Issues Committee Chair Dawn Moore with First American Title, Todd Gregory with Countrywide Bank, FSB and TLTA Director of Government Affairs Mindy Carr. More Story
 

Financial Services Committee to Hold April 9 Hearing on Economic, Mortgage and Housing Rescue Bill

House Financial Services Committee Chairman Barney Frank announced today the committee will hold a hearing on the economic, mortgage and housing rescue plan he announced last week. More Story 

INDUSTRY NEWS

Department of Banking Launches New Tool to Combat Identity Theft 

On March 1, 2008, the Texas Department of Banking launched the Closed Account Notification System, known as CANS, a secure electronic notification system which enables banks and credit unions to immediately notify all major check verification companies when certain accounts have been closed due to fraudulent activity by identity thieves. This system is the first of its kind in the nation. More Story