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  • July 29, 2016 2:16 PM | Kathy MacAdam (Administrator)

    Today the Consumer Financial Protection Bureau (CFPB) announced a Notice of Proposed Rulemaking (NPRM) for the TILA-RESPA Integrated Disclosure (TRID) rule. THIS IS BIG NEWS. We have until October 18 to tell our story and explain to the CFPB how TRID is impacting consumers.  
     
    The Title Action Network (TAN) has developed FOUR EASY STEPS to ensure you understand the proposed changes and can help us tell the CFPB to fix the problems with TRID over the next 60 days:
     

    1. ENGAGE: Learn more about the proposed changes by clicking here. Be sure to open our TAN emails to receive timely information on TRID and the comment period.
    2. COMMENT: Soon the comment period will be open at Regulations.gov (the government website designed to collect regulatory comments). TAN has streamlined the process to work like any other TAN call to action with just a few easy clicks!
    3. RECRUIT: Ask all of your staff and industry colleagues to join TAN now so they also have the most up- to-date information. Our voice must be stronger than ever to ensure the CFPB makes the appropriate changes to TRID! TAN is 100% free, doesn’t clog your inbox and is open to all in the land title industry.
    4. ACTIVATE: Sign up for text alerts to easily take action from anywhere using your phone by clicking here. (If you’ve previously signed up for text alerts you do not need to do so again).
     
    Click here to access ALTA’s statement on the CFPB’s proposed changes.
     
    Sincerely,
     
    Wayne Stanley
    American Land Title Association
    202-296-3671

  • July 29, 2016 10:23 AM | Kathy MacAdam (Administrator)

    I am sure you all are aware of the new requirement from DC Water that the Seller(or account holder) sign an authorization form to receive any information on the account including balances. I sent our general information request form for the Seller,in which we added authorization for DC Water to the existing language giving authority for payoffs, etc.

    Below is their authorization for our language:

    "A customer’s signature on this form satisfies DC Water’s authorization requirements in the following statement:

     I authorize _____________________(title agency) to request loan information, including tax and payoff information, from my current lender(s) on my behalf; to order my prior Owner’s Title Insurance policy on the above property; and to request, on my behalf, any information necessary to clear potential title issues on the above property, including but not limited to contacting condominium management companies, neighborhood associations, water and utility companies, and/or other corporate or governmental entities."

     Please amend your forms and you will be in compliance with DC Water’s requirements.


    Regards,

    R. Bradley Runyan, DCLTA WASA Committee Chair
  • July 14, 2016 11:47 AM | Kathy MacAdam (Administrator)

    Dear DCLTA Members and Friends:

         

    The Consumer Financial Protection Bureau (CFPB) will be considering changes to the TRID rule later this summer. We need your help to ensure TAN’s voice is stronger than ever as we work to convince the CFPB to fix portions of TRID.

     Let your voice count – Join TAN now!


    Join by JULY 22nd for a chance to win a 3-NIGHT CARIBBEAN CRUISE!

     Each person that you recruit to join TAN between today and July 22 will enter you to win a 3-night Caribbean cruise! All they have to do is join TAN at www.titleactionnetwork.com and enter your name as their “referral.” All new TAN members must join by July 22 to be counted toward this contest. The more you recruit, the more you win! Learn more at www.titleactionnetwork.com/cruise/

     




  • October 08, 2015 4:32 PM | Kathy MacAdam (Administrator)

    Washington, D.C. - October 7, 2015 — The American Land Title Association (ALTA), the national trade association of the land title insurance and real estate settlement services industries, released the following statement following tonight’s passage of the Homebuyers Assistance Act, H.R. 3192, by a vote 303 to 121 in the U.S. House of Representatives:

     “Tonight’s overwhelming bipartisan and veto-proof vote shows that the House of Representatives recognizes the need for consumers to continue to receive a positive and compliant real estate transaction,” said Michelle Korsmo, ALTA’s chief executive officer. “We greatly appreciate the support of Reps. Reps. French Hill (R-AK) and Brad Sherman (D-CA) and their efforts to pass this important legislation.”

     "We urge the Senate to pass this bill immediately so that our ALTA members and the broader real estate members can focus on delivering quality service to consumers when buying a home or refinancing a mortgage. Without certainty, service providers are likely to close fewer transactions to ensure compliance with TRID, which will delay homeownership for consumers around the country,” Korsmo continued.

     “Members of the Title Action Network sent nearly 8,000 emails and letters supporting H.R. 3192. We look forward to activating our grassroots network once again to support Sens. Tim Scott (R-SC) and Joe Donnelly (D-IN) to bring S. 1711, the Senate version of H.R. 3192, to the Senate floor as soon as possible.”

    ###

    Wayne M. Stanley

    Director of Public Affairs

    American Land Title Association

  • October 06, 2015 11:37 AM | Kathy MacAdam (Administrator)

    The DCLTA annual meeting and election of Officers

    June 17, 2015.

    Sworn in by Madeline Nagy of ALTA, are the following:

    Board Members and Officers:

    Betsy Russo – President , Ben Soto – Vice President, Brian Thompson – Treasurer and President Elect (to take over after the 2016-2017 term)

    Barbara Kemp - Secretary

     Board Members at Large:

    Stuart Kruger, Bradley Runyan, Michael O’Neal, Scott Sweitzer,
    and
    Manus Holmes, Kevin Anderson, Chris Darby, Jack Reid

  • April 28, 2015 10:17 AM | Michael Russo (Administrator)

    DC's Mr. Torrell Thomas a Real Property Program Specialist Assessment Services Division as advised that the best way to search for Public Space and Vault Rental information is to contact him directly.  The information available on the searchable database is not complete.

    Mr. Thomas can be reached at the following:

    Mr. Torrell Thomas,

    1101  4th St, SW, Suite W550

    Washington, DC 20024

    P: 202.442.6769| F: 202.442.6691

    torrell.thomas@dc.gov<mailto:torrell.thomas@dc.gov>

    http://cfo.dc.gov<http://cfo.dc.gov/>

    THANK YOU TO MR. THOMAS FOR REACHING OUT TO PROVIDE THIS VALUABLE INFORMATION.

    Regards,

    Mike Russo

    President, DC Land Title Association
  • April 08, 2015 12:25 PM | Michael Russo (Administrator)

    On March 27, 2015 DCLTA joined with the American Land Title Association (ALTA) to write to DISB Acting Commissioner McPherson to express or continuing concerns  with the DISB rate review process.  The letter can be reviewed by clicking this link: DCLTA & ALTA Letter to DISB Acting Commissioner McPherson.  We have not yet had any formal response from Mr. McPherson.  We will continue our efforts.

    Should you have any questions or comments regarding this process, please do not hesitate to contact us.

    Regards,

    Mike Russo, President

    DC Land Title Association.


  • February 24, 2015 10:38 AM | Michael Russo (Administrator)

    DISB Insurance Commissioner Philip Barlow has responded to DCLTA's letter regarding the proposed DC settlement agent rate examination.  The response can be read at the following link: DISB's Response to DCLTA 021915.

    While I am certain you will agree that the response is somewhat disappointing, it also sheds some light on DISB and Mr. Barlow's expectations from the process.  In particular, Mr. Barlow states, as follows: "I also want to reiterate that the purpose of looking at
    information from individual producers is not intended to be a compliance audit. Rather, we are using the examination format as the safest and most effective method of getting the information needed for Mr. Birnbaum' s charge and to better enable the DISB understand the elements necessary to carry out our responsibilities under District law for reviewing rate filings."  He also notes his interest in DCLTA's future presentation on rate avoidance issues specific to DC settlement practice. 

    We are preparing the presentation and hope to get a date on the calendar for March to meet again with DISB for this presentation.  DCLTA will need your assistance in preparing for this.  In particular we are looking for an "in the DC trenches" perspective on your most pervasive DC risk avoidance problems; practical examples of these issues; and, any memos, guidelines or other written material that will illustrate the problems or necessary remedial processes.   In our last letter to DISB we included an outline of some such issues.  A copy can be reviewed at this link: DC Title Considerations.  Please contact me if you are able to assist us in moving this process forward.  

    As always if you have any questions let us know and if you are able to help, please do hesitate to contact me.

    Regards,

    DC Land Title Association

    Mike Russo, President

    mailto:russo@CouncilBaradel.com
  • February 16, 2015 5:59 PM | Michael Russo (Administrator)


    Through the enormous effort of Amy Klein, Roy Kaufman and Betsy Russo and with the generous cooperation and contribution of many members,  DCLTA has responded to DISB with our comments regarding their proposed settlement agent Rate Exam Questions.  Our response can be read at this link:DCLTA Letter to DISB with attachments 2/16/2015.

    We are planning to follow up with a presentation to DISB regarding risk avoidance obligations and other activities unique to being a responsible settlement agent in the District of Columbia.  We will be calling on members once again to assist with that process.

    We are hopeful that DISB will choose to continue this important dialogue.  However, DISB is free to proceed as it chooses.  We will continue to keep you informed of developments as we learn of them.  Likewise, we ask you to contact us with any questions, comments or observations you may have.

    Regards,

    DC Land Title Association

    Mike Russo, President.
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