The Consumer Mortgage Choice Act (H.R. 1077) reintroduced

This is an interesting discussion over on Linkedin in the American Land Title Association Group.

The Act provides for exclusion of fees charged by creditor’s affiliates from the 3% Dodd-Frank “points and fees” threshold used to determine which loans qualify as Qualified Mortgages (QMs).

Check it out

ALTA Best Practice Pillars 1 and 6

ALTA Best Practices –  Pillars 1 and 6

Click here to Enroll

This course is one in a series of Courses that discuss ALTA Best Practices. This one covers Pillars 1 and 6. The objective of the course is for the learner to complete the section of their policy and procedure manual for the pillars discussed in the course. Also, upon completion the learner will be confident that they will be able to pass an ALTA Best Practice audit for the pillars discussed in the course.

streamline

Pillar 1 is about licensing. The course covers the 10 questions asked in the ALTA Pillar 1 Workbook so that the learner understands what is expected to by compliant. The course covers the Action Items report, Assessment Readiness, and Certification

Pillar 6 is about Professional Liability Insurance. The course covers the 12 questions asked in the ALTA Pillar 6 Workbook so that the learner understands what is expected to by compliant. The course covers the Action Items report, Assessment Readiness, and Certification.

Streamline Consulting has done the research and put together the content for the course. Streamline Consulting is a privately owned company that was formed in order to meet the personnel, technical and business needs of Title Insurance Companies. They are advocates for their clients in all aspects of the title insurance industry.

While the nature of the business is the same in all states, the nuances of each title company, even within the same city, can be very different. Streamline customizes every project and product for each title company, regardless of size, location or products and services provided to their customers.

Click here to Enroll

ALTA Best Practices by Diane Evans

2 credits

Click Here to Enroll

Current American Land Title Association President, Diane Evans discusses ALTA Best Practices. Her presentation includes a discussion of how the industry has arrived a the point where the promulgation of Best Practices is important. She covers legislation that requires title agencies to implement Best Practices and the role of the Consumer Financial Protection Bureau. This course covers an overview of each of the 7 Pillars

  • Pillar 1 – Licensing
  • Pillar 2 – Escrow Accounting
  • Pillar 3 – Protecting Non Public Personal Information
  • Pillar 4 – Pricing and Recording
  • Pillar 5 – Policy Production
  • Pillar 6 – Professional Liability Insurance
  • Pillar 7 – Consumer Complaints

Diane Evans has served the title insurance industry for more than three decades. She joined Denver, Colorado-based Land Title Guarantee Company in 1981 and currently serves as vice president. A member of the American Land Title Association’s (ALTA) Board of Governors and 2014-15 president, Diane also is a member of ALTA’s Government Affairs Committee, State Regulatory Advisory Committee, NAIC Committee and Agents Executive Section.

Additionally, she has served as chair of ALTA’s Abstracters and Title Insurance Agents Section Executive Committee. Diane has been active in the title industry in Colorado as well. She served as president of the Land Title Association of Colorado in 2001, served on its Board of Directors from 1992-2002 and continues to serve on its legislative committee. She has served on the Colorado Secretary of State E-Recording Panel, a member of the Producers Council of the Colorado Division of Insurance and the Colorado Division of Insurance Title Advisory Panel. She has served as chair of the State Board of Land Commissioners and on the Colorado State University System’s Board of Governors

Click Here to Enroll

New Integrated Mortgage Disclosure with Anne Anastasi

2 credits

Click Here to Enroll

Former ALTA President Anne Anastasi discusses the New Integrated Mortgage disclosure in this course published by Learntitle.com. The course covers:

  • New terminology
  • New definitions
  • Aspects of inclusion on the “Provider List”
  • Tolerances
  • Preparation and Delivery
  • The new form

Anne AnastasiAnne Anastasi if a former president of the American Land Title Association. She has been instrumental in speaking for the Land Title Industry as the Consumer Financial Protection Bureau redesigns how real estate transactions will be done.

Click Here to Enroll

Help TAN your office and WIN!

From the ALTA Linkedin Group

  • Group: American Land Title Association – ALTA
  • Subject: Help TAN your office and WIN!

During August, the Title Action Network (TAN) is challenging all TAN members to recruit ONE new Title Action Network member this month. Simply encourage your new recruit to visit www.titleactionnetwork.com and click “Join TAN” on the right side of the page.

The TAN member who refers the most new TAN members from August 1 to August 31 will win a free 2014 ALTA Federal Conference Registration! Just make sure that your new TAN members type your name into the “who referred you to TAN” field on the entry form.

Not a TAN member? Visit www.titleactionnetwork.com and join today to start recruiting!

Is your office already at 100% TAN participation? Call an industry colleague and ask them to join today at www.titleactionnetwork.com.

We need our entire industry to be involved in promoting the value of the land title industry to legislators and regulators. Recruiting at least one new TAN member this month will help reach that goal!

Here are a few points to encourage your colleague(s) to join TAN today:

– TAN is free & takes only 90 seconds to join!
– TAN promotes the value of the land title industry to state and
federal policymakers.
– We don’t bog down your inbox & our action alerts are easy-to-
understand.
– We focus on issues that are important to you and your business.

Come TAN with us. Encourage your colleagues to join today at www.titleactionnetwork.com.
Posted By Wayne M. Stanley

ALTA Best Practices Assessments

Implementing changes can be a daunting process.  While many in our industry mean well, they simply do not have the technical knowledge to ensure your title agency or settlement services company is secure. Good news! Cloudstar is here to help you with your ALTA Best Practices implementations.

ALTA Best Practices Assessments | mycloudstar.com.

More information about New GSE Legislation

As part of the Title Agent Network, I received this info today:

We wanted you to know that today Senators Bob Corker (R-TN), Mark Warner (D-VA), Mike Johanns (R-NE), Jon Tester (D-MT), Dean Heller (R-NV), Heidi Heitkamp (D-ND), Jerry Moran (R-KS) and Kay Hagan (D-NC) introduced a GSE reform bill that recognizes the value of title insurance. This is great news!

What is GSE reform? GSE (short for government sponsored enterprise) reform aims to fundamentally alter Fannie Mae and Freddie Mac. This is important to the land title industry because Fannie Mae and Freddie Mac currently require title insurance in their service guides. If Fannie/Freddie are replaced, we must ensure standards for title insurance remain in place as a risk-management standard for lenders and consumers.

ALTA’s CEO, Michelle Korsmo released a brief statement today thanking Senators Corker and Warner for recognizing the importance of title insurance in their legislation. Read Michelle’s statement here.

ALTA is working very hard for our members as Congress begins to consider GSE reform, but we will continue to need your help to explain the land title industry to legislators and regulators. Our members continue to be our very best advocates. If you want to learn about ways that you can help locally, please email ALTA’s manager of external communications, Wayne Stanley.

We will continue to pass along important updates on GSE reform as they become available. As always, I can be reached at justin@alta.org if you have any questions.

Senators propose overhaul of housing finance – KXNet – Bismarck/Minot/Williston/Dickinson

This may have significant impact on the title insurance industry.  Fannie and Freddie both require title insurance.  If they go away, whatever takes their place may not.  Hard to imaging that investors would not want their investment insured but it is impossible to predect what our fine legislator might come up with.

Senators propose overhaul of housing finance – KXNet – Bismarck/Minot/Williston/Dickinson.

Here is ALTA’s reaction:

American Land Title Association Announces Launch of Mobile Website

Washington, D.C., June 3, 2013 — The American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced today that it has launched a new mobile website to expand and facilitate access to industry news and member resources.

Visit m.alta.org on any mobile device to view the website.

“ALTA is excited to provide our members with more access to valuable industry information,” said ALTA President Frank Pellegrini. “Using this new mobile website, our members can keep updated with ALTA news, title industry developments, and interact with us on social media in a simple, user-friendly format.”

“The launch of this mobile site marks another step in ALTA’s continued efforts to deliver innovative and relevant resources to our members,” said Michelle Korsmo, ALTA’s CEO. “By providing on-the-go access to industry news and social networks, this tool meets the needs of title professionals working in a fast-paced and increasingly mobile world.”

Click here to watch a brief video summarizing the mobile site’s features and explore the new site from any mobile device by clicking here.