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Mortgage Interest Deduction
Despite a partial resolution of issues around the fiscal cliff budget talks, changes to the mortgage interest deduction (MID) is still among major issues being considered, probably to be debated in the spring. READ MORE!
CFPB Releases Updated Rulemaking Agenda - January 8, 2013
The Consumer Financial Protection Bureau (CFPB) released its semiannual regulatory agenda, announcing its plans to release the final mortgage disclosure rule, as well as confirming release dates for five other final rules. The agency also included a description of at least one long-term action concerning Regulation B – Business Lending Data. READ MORE!
VETTING? Title Insurance and Settlement Company Best Practices
ALTA seeks to guide its membership in best practices to protect the consumers, ensure quality service and meet legal and market requirements. These practices are voluntary and designed to help members illustrate for consumers and clients the practices the industry uses to ensure a positive and compliant real estate settlement experience. ALTA is publishing these best practices as a benchmark for the mortgage lending and real estate industry. ALTA seeks comments from stakeholders on these best practices as the Association seeks to continually improve them, seeking comments on each revision. Click here for ALTA Best Practices.
The Consumer Finance Protest Bureau “Proposed Rules” – Take ACTION!
The Consumer Finance Protection Bureau (CFPB) has published their proposed rule for the new Loan Estimate and Closing Disclosure that will replace the current Truth in Lending (TIL), Good Faith Estimate (GFE) and the HUD-1 disclosures. The CFPB is actively seeking comments from the title industry that will be taken into consideration before a final rule is adopted. The CFPB wants to know how these proposed rules will impact the way you do business, to be sure that the practical application of these rules is what they intended. The final rule will profoundly affect every member group in our association. This is your opportunity to voice what you believe to be the most viable practices for our industry. The five main topics being discussed are shown below with questions to consider when making your comments. READ MORE! (Comment Period Closes on November 6)
CFBP Releases Proposed Regulations and Mortgage Disclosure Forms
July 9, 2012
The Consumer Financial Protection Bureau (CFPB) today released a Proposed Rule to integrate mortgage disclosures required under the Truth in Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA). The proposed forms will replace the current TIL, GFE and HUD-1. ALTA’s RESPA Task Force is reviewing the Proposed Rule and will provide deeper analysis to ALTA membership over the coming weeks. READ AND LEARN MORE!
The Title Industry Consumer Initiative ~ Principles of Fair Conduct
It goes without saying that the widespread criticism of our industry in recent years has reached unprecedented proportions. It is important that everyone band together to help elevate the title profession in the eyes of lawmakers, regulators, consumers, and the news media. You can find more information about The Title Industry Consumer Initiative and Principles of Fair Conduct on ALTA’s Web site at www.alta.org, under “About ALTA.” Click here to be redirected automatically.
In The Supreme Court of Virginia
First Anerican Title Insurance Company, Plaintiff - Appellee v. Western Surety Company, Defendant - Appellant
Brief Amicus Curiae ~ Virginia Land Title Association, written by Kevin T. Pogoda, Esq.
Given that the VLTA is partly comprised of title insurers and wholly comprised of members affecting and affected by the title insurance industry, the scope of this Brief Amicus Curiae is limited to addressing Western Surety's argument, set forth in Section F, that "Title Insurers Such as FATIC Lack Standing to Pursue a Private Cause of Action Against a CRESPA Bond." READ MORE!
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