Industry News
Can YOU Exempt CE?
The Virginia Insurance Continuing Education Board has in place the opportunity to apply for Continuing Education Exemption. In the April 2010 edition of the Agent Information Handbook, you can now apply for CE exemption if you are age 65 AND 20 years licensed. Click here to download the form!
HUD Announces Posting of Frequently Asked Questions on New RESPA Rule
U.S. Department of Housing and Urban Development Assistant Secretary for Housing-Federal Housing Commissioner David Stevens today announced the release of frequently asked questions (FAQs) concerning implementation of the new Real Estate Settlement Procedures Act (RESPA) rule. The FAQs were compiled from questions received from industry since the publication of the Rule.
Click here to check out the new HUD FAQs for the New RESPA Rule.
AGENT ALERT! CRESPA Registration Changes
Due to 2009 legislation passed, beginning on July 1, 2009, title settlement agents and companies will no longer register or renew with the Bar, but will instead be required to register and renew with the Bureau of Insurance.
The Bureau is implementing a biennial renewal process that will require all the title settlement agents and companies to renew with the Bureau on or before June 30 of each even year beginning in 2010.
What you need to know…
*** Renewal notices will be mailed by April 1
*** Renewal Registration must be filed with the Bureau NOT the Bar on or before June 30 (the BOI states that an online renewal process will be available soon).
*** The fee for Agency Registration and Renewal is $100.
*** The fee for Agent Registration and Renewal is $35.
Failure to renew will result in termination of the title settlement registration.
For more information http://www.scc.virginia.gov/division/boi/webpages/crespa/index.htm
Do you have questions regarding the new registration? Contact the BOI directly!
ALTA Form Licensing Initiative
The American Land Title Association (ALTA) recently announced its plans to license the use of all ALTA policy forms (including Endorsement forms). This licensing program begins on October 1, 2009. ALTA will be contacting all non- ALTA members and offering a free ALTA membership for the remainder of 2009. This membership will include a free license to use the ALTA forms. On January 1, 2010 those new members will be sent a dues invoice for 2010. Those who renew their membership will be allowed to continue their free use of the forms. Those who do not renew will be invoiced $195.00 as a licensing fee for use of the forms. Click here for FAQS relating to this initiative.
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.”
VLTA News
Habitat for Humanity Needs Volunteers!
It's that time of year again to sign up for VLTA and Habitat for Humanity's Protecting the American Dream days. Click here to learn more and sign-up to volunteer!
VLTA Adopts Agency Standards
As a result of the 2009 Fall Workshop, a sub-committee (Tim Akers, Myrna Keplinger, and Joanne Payne) was formed to work on developing agency standards that VLTA could adopt. Input was sought from several agent and underwriter members of VLTA for this effort. We are pleased that the Agency Standards were formally adopted by the Virginia Land Title Association Board of Directors on June 5, 2010.
Click here to view the Agency Standards.
Member Discount Programs
VLTA is shopping and everyone likes a discount!
We know that title industry professionals do business with vendors they trust. If you know of a vendor who excels when it comes to service and quality - let us know. We would like the opportunity to negotiate a discount for all our members statewide.
As always, our Associate Members support VLTA and the industry on many levels and encourage them to contact VLTA today to discuss a program that will be mutually beneficial to all. Members, don't forget to offer your business to those supporting your profession.
For more information, email Virginia Land Title Association.
Tech Bits
by Greg Marshall, CPMR, CSP
I use a scanner to bring home literature without the weight.
I also converted my three 5 drawer filing cabinets into PDF files that were OCR’d so I can search and find documents when I need them using Microsoft Desktop Search.
I can also carry those 33,458 pages of scanned documents on a pocket sized hard disk.
If I were still a salesman, I’d carry all my literature, technical support documents, manuals, etc. on the same drive. Our salesmen used to have a trunk full of paper to have the information they might need with them while they were on the road.
I also use that pocket sized hard disk to make daily backups of my notebook computer when I’m traveling.
That’s all possible with a hard drive that’s just a little larger than a deck of cards and connects to your computer via a USB cable (which also supplies its power).
Right now I’m using a Western Digital Passport (http://www.wdc.com/en/), which is frequently on sale for less than $100. My current one is the original black, but I’ve been tempted by either the red or blue ones.
In the past I’ve used other brands such as Fujitsu. One new pocket drive that looks really interesting is Seagate’s Free Agent, which includes a docking station for your desktop computer and can still connect via a USB cable to your notebook.
While USB flash drives are available at 16 GB, it’s nice these pocket drives hold up to 500 GB.
You can even store a few movies on them to make waiting for that next delayed flight much more tolerable.