April 25, 2012
Title Insurance to be Featured on Lifetime Television Tomorrow
The American Land Title Association (ALTA) recently partnered with Lifetime Television and the show Designing Spaces to record a segment on title insurance and the closing process. The episode will premiere tomorrow at 6:30 a.m. CDT (check your local listings). The segment is a great opportunity for our industry to explain the value of title insurance directly to consumers as the show is expected to reach over a million potential and current homebuyers. ALTA and TLTA will make a link to the video available after the segment airs - please share it on your website and in your emails!
Comment Period Open for Proposed New Title Exam Standards
The Title Examination Standards Joint Editorial Board is seeking comments on newly proposed standards. It is important to note that these title standards do not apply to title insurance, but may prove useful in your work. You may view the proposed standards here and email your comments to Chair of the Title Examination Standards Committee, Edward Hill here. The comment period closes May 22, 2012.
Nominate Someone to Serve on the TLTAPAC Board of Trustees
The TLTAPAC Board of Trustees is now accepting nominations for 2012-2013. If you are interested in serving a three-year term on the board or know someone who would make a good trustee, please fill out this form no later than this Friday, April 27. We need folks who are committed to our cause of continuing to enhance the title insurance industry's political influence at the Capitol and who can help us educate TLTA members on the importance of investing in the PAC. If this sounds like something you would be interested in doing or if you know the perfect candidate, we urge you to send in a completed form today! The slate of nominees will be approved at the annual TLTAPAC Breakfast held in conjunction with the TLTA Annual Conference & Business Meeting in Fort Worth, June 14-16, which you may read more about here.
ALTA Survey: Borrowers Receive Between 2-3 GFEs Per Transaction
According to a recent survey of more than 200 title professionals by the American Land Title Association (ALTA), the estimates received by consumers at the beginning of their real estate transactions are getting more accurate. In the survey, 72% of respondents felt the estimates in the initial GFE were either accurate or highly accurate. However, despite this increased accuracy, 75% of consumers still receive multiple Good Faith Estimates in the transaction. The survey was conducted as ALTA and TLTA continue to work with the Consumer Financial Protection Bureau as it integrates the RESPA/TILA mortgage disclosure and settlement forms, which you may read more about here.