Join DCLTA Today!
Dear Members
As we welcome the start of spring, I encourage you to celebrate the purpose and value in what you do and what we do. DCLTA is the only organization that represents the title industry at the local level in the District of Columbia.
DCLTA liaisons with government officials. Backed by the strength of our membership, DCLTA advocates for sensible laws and policies that improve not only the business landscape for the title industry but allow for the transfer and marketability of title for DC properties.
Employing the richness of our resources, DCLTA educates it members. In addition to educational opportunities, networking with other DCLTA members is invaluable. DCLTA is a place for professional growth. You each have a wealth of knowledge and experience to share.
Of utmost importance to me during my tenure as President is the long-term sustainability of the organization. The bottom line, DCLTA needs to generate revenue for it to survive and thrive. Developing a plan for sustainability will be the mission of my presidency.
For those that are not already actively involved with DCLTA, I encourage to become involved. Join a committee or start a committee. Recognize your value and the value of all members of the DCLTA. Let’s see what we can do together to make DCLTA the organization that represents the voice of title for decades to come.
Amy E. Klein
DCLTA President 2022-2023
ALTA TIRS STATE COMPLIANCE GUIDE
As you may know, ALTA maintains a state-by-state regulatory information product called TIRS State Compliance Guide. The 2022 Washington DC TIRS State Compliance Guide is now updated! It is a great resource to stay up to date with Washington DC’s legislative changes and customs and practices.
Developed by industry regulatory counsel, each state guide has been reviewed by in-state editors to ensure that the guides reflect the proper legal and operational environment in all jurisdictions.
"ALTA thanks Brian W. Thompson, Esq., Director of Jackson & Campbell, PC, and Board Member of the District of Columbia Land Title Association for his invaluable industry expertise and his time and effort in updating this guide."
The District of Columbia’s TIRS guide is available for download for FREE at https://www.alta.org/tirs-state-compliance-guide/
DCLTA members get a $100 discount for the purchase of any other individual TIRS state guide with code “TIRS100”. This offer is not valid with any other offer.
Contact Carolina Perez at cperez@alta.org for additional information or if you need assistance in purchasing the TIRS State Compliance Guides”
The division of the DC Office of Tax and Revenue that processes Homestead/Senior/Disabled applications (FP-100) has announced that, as of July 17, 2019, it will suspend the processing of applications, grant benefits, and tax account adjustments. This action was “taken to meet a demanding billing timeline to reconcile tax accounts” associated with the upcoming 2019 2nd half tax year billing.
It is anticipated that the office will resume normal processing on August 16, 2019, but that it may take up to 45 days for accounts to be “updated and a corrected tax bill mailed”. Obviously, tax bills that go out without current homestead reductions may be paid (by lenders and others) in the interim, which may require refunds of overpayments.
Inquiries should be directed to homestead@dc.gov.
Washington, D.C., April 4, 2017 — The American Land Title Association (ALTA), the national trade association of the land title insurance industry, in a letter urged the Consumer Financial Protection Bureau (CFPB) to issue an alert warning consumers about wire fraud schemes attempting to steal funds for real estate closings.
“Despite efforts by the title industry and others to educate consumers about the risk, homebuyers continue to be targeted,” said Michelle Korsmo, ALTA’s chief executive officer. “With the spring homebuying season underway, it’s vital to continue raising awareness about these schemes. The CFPB should take this opportunity to protect consumers from criminals looking to steal their money.”
The alert should provide tips to on how to consumers can protect themselves and questions to ask to help determine if real estate professionals have procedures in place to protect their money. ALTA has educated its members over the past few years about these wire fraud schemes, but the best defense is to inform consumers about the danger.
“Unfortunately, these criminals frequently target homebuyers prior to the title company getting involved in the transaction,” Korsmo said. “In many instances, they obtain access to unsecure email accounts used by consumers or real estate professionals. They use this access to find transaction patterns and details to make their fraudulent communications seem legitimate. The criminals will instruct the buyers to send the funds to a different account and the money vanishes in minutes.”
Ida Williams has informed us that ROD will be closed on Thanksgiving and Friday, 11/25. Regular hours will be observed on Wednesday 11/23.
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:
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,
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/.
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.”
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Wayne M. Stanley
Director of Public Affairs
American Land Title Association
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
1201 Dublin Road, Ste 136, Columbus, OH 43215 Phone: 202-318-0207 ©2022 DC Land Title Association
exec@dclta.com
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