NAILTA 2015 Conference has been cancelled

The National Association of Independent Land Title Agents (NAILTA) has gone through numerous changes in the last year with respect to our leadership.  Our national conference which was to be held September 19 -22, 2015 in Baltimore was scheduled at that time for a very specific reason, the implementation of TRID (TILA-RESPA Integrated Disclosure).  We felt that our conference, together with our speakers and panel of experts would provide very timely and concise information for the independent title agents during this time of implementation.   Considering recent events in Baltimore , the changes in our  leadership, the recent the death of our President, David LeClere and other factors outside of our control, the Board of Directors of NAILTA has determined that it is necessary to cancel this year’s Conference.  This decision was reached after much discussion and debate.  Refunds are being made to all parties who had enrolled to date. It is the intention of the Board as newly constituted to re-focus and re-commit our future efforts to the principles upon which NAILTA was initially created, namely: Restore transparency and credibility to the land title process, preserve the objective and impartial role of the title agent at the closing table to improve the consumer experience. To eliminate conflicts of interest between title agents and their referral sources, as well as, between all real estate settlement service providers and their sources of business. To establish a minimum search standard for title examinations to restore faith in the system of land title.  And, to bring together common interests and concerns from across the country from the entire spectrum of real estate settlement...

CFPB to mortgage industry: Get out of MSAs | 2015-07-30 | HousingWire

The Consumer Financial Protection Bureau wants to mortgage lenders to stop using marketing services agreements, and it’s using the stick rather than the rules process to do so. Two major players in the mortgage space announced this morning that they are discontinuing marketing activities that depend on MSAs because of regulatory uncertainty, recent interpretations of RESPA, and a generally toxic enforcement environment, and that appears to be exactly what the CFPB wants. “Wells Fargo’s decision to exit all marketing services agreements is an important step for . . . Source: CFPB to mortgage industry: Get out of MSAs | 2015-07-30 |...

Small Texas bank winning big fight against CFPB | 2015-07-24 | HousingWire

A small Texas bank was handed a large victory this week, when a federal court ruled that the bank is allowed to challenge the constitutionality and authority of the Consumer Financial Protection Bureau. The repercussion of this battle could also have a huge ripple effect on the entire financial market. The bank, State National Bank of Big Spring, Texas, filed suit against the federal government in 2012, claiming that CFPB’s “unprecedented, unchecked power” violates the Constitution’s separation of powers. In August 2013, after 11 states . . . Source: Small Texas bank winning big fight against CFPB | 2015-07-24 |...

Sen. Ted Cruz introduces bill to abolish CFPB | 2015-07-22 | HousingWire

  The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz, R-TX, has his way. Cruz, along with Rep. John Ratcliffe, R-TX, introduced a bill in Congress this week that would abolish the CFPB, an agency that Cruz says does not stand up to its name. “Don’t let the name fool you, the Consumer Financial Protection Bureau does little to protect consumer,” Cruz said in a release. “The agency continues to grow in power . . . Source: Sen. Ted Cruz introduces bill to abolish CFPB | 2015-07-22 |...

Senate GOP Adds Dodd-Frank Rewrite to $21B Funding Bill

As reported by Associated Press on Wednesday, Jul. 22, 2015 11:30 am John Boozman WASHINGTON — Senate Republicans are trying to use a must-do spending bill to advance legislation significantly revising a landmark law that tightened regulation of the financial services industry after the 2008 financial crisis. Click here for full...