September 12, 2012
TLTA Assessing Lender Vetting of Texas Title Agents
Please Provide Us With Some Important Feedback Below
As we reported in a recent Dateline, it has come to our attention that some Texas Title Agents are being asked to pay a third party as a condition of doing business with certain lenders. These third party firms are offering to vet the title agents on behalf of the lender. It has been reported to us that they are charging Title Agents a flat fee per year per escrow officer and other personnel related with the transaction, and requiring the submission of extensive confidential information about the escrow personnel as well as sensitive company information including bank account numbers.
In response, we have submitted a letter to TDI outlining some concerns and requesting a meeting to discuss this matter further. You may view the letter here.
TLTA Needs Your Feedback on This Issue!
We need some important information from you as we try to understand and assess the scope of this issue. Regardless of whether or not you have been contacted about this vetting requirement, please take a moment to complete this brief questionnaire to help us find out two things:
How many agents have or have not been contacted, and
As you communicate with your lenders about this, what feedback are you getting from them?
Your feedback on this issue is very important and we appreciate any information you can provide. If you have any questions or additional information you can provide us, please contact Aaron Day at email@example.com or 512.472.6593.
TLTA Working Group Analyzing Concerns About Proposed TREC Contract Changes
As we previously reported, the Texas Real Estate Commission (TREC) has proposed changes to several forms, which you may view here. TLTA has formed a working group to analyze these proposed changes and provide comments to TREC. Of particular concern are the changes to Section 6 A(8) on the One to Four Family Residential Contract (Resale) form, which you may view here. The working group is drafting alternative language for consideration by the TLTA Board that is designed to clarify the language while meeting the objectives of the TREC committee proposing the changes. Stay tuned for more information from TLTA about these changes and how to comment before the October 8 deadline.
White House Pushes Refinancing Expansion Before Election
Bloomberg | September 10, 2012
The White House is urging the U.S. Senate to vote as soon as this week on an expansion of a government mortgage-refinancing program, a move that could showcase President Barack Obama’s support for policies aiding homeowners before the Nov. 6 presidential election. Democratic leaders are considering adding the measure expanding the Home Affordable Refinancing Program to their agenda for the two-week Senate session that began yesterday, according to Senator Barbara Boxer of California and Senator Robert Menendez of New Jersey, who wrote the bill. Read More »
Donate to TLTAbay Today - We Need Your Support!
The TLTAbay online auction is an annual fundraiser benefiting the TLTAPAC. This year's auction will begin on Thursday, November 8 and run through Thursday, November 15. We need your help to secure auction items and ensure another spectacular year. Suggested donation items include: electronics, gift cards, sporting event tickets, travel vouchers, vacations, spa packages and jewelry. Don't know what to donate? You can make a monetary donation and we'll do the shopping for you! Read more about the auction and make a donation here or contact Ryan Poulos for more information.