Indiana Department of Insurance Wins Rate Appeal

On December 19, 2012, the Indiana Court of Appeals issued a reversal in a discriminatory rate case involving Ticor Title Insurance Company of Florida and the Indiana Department of Insurance. The case, styled Robertson, Insurance Commissioner of the State of Indiana v. Ticor Title Insurance Company of Florida, Case No. 49A02-1110-PL-971, upholds the previous administrative order…

NAILTA Weighs in on NAIC Escrow Theft White Paper

14916933_sAs the National Association of Insurance Commissioners (NAIC) and the title insurance industry attempt to address the concerns of regulators over the subject of escrow account theft and consumer protection issues, the National Association of Independent Land Title Agents (NAILTA) released the enclosed white paper and introduced an important predictive measure to help regulators spot title insurance underwriters who may be at greater risk for insolvency.

CFPB Publishes Final Qualified Mortgage Rule

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its much-anticipated final rule concerning qualified mortgages. In July, 2010, Congress passed the Dodd-Frank Financial Reform Act mandating that the CFPB propose rules to protect consumers from toxic mortgage products. The CFPB, following its Congressional mandate, has created a final rule after reviewing 1,800 public comments from industry groups,…

CFPB Delays Implementation of New Rules

The Consumer Financial Protection Bureau has issued an extension for new mortgage disclosures, initially slated to go into effect in January. The agency will wait to implement the new disclosure forms until other mortgage rule makings have been completed. While some of these new disclosures were originally to be implemented by January 21, 2013, the CFPB issued…

Fiscal Cliff

On January 1, 2013, Congress passed the American Taxpayer Relief Act. Of direct concern to title insurance agents doing business in the arena of short sale transactions is the fact that the the bill also contained an important extension of the Mortgage Debt Relief Act (MDRA) of 2007, which NAILTA supported and advocated for. The…

CFPB Delays Disclosure Launch Date!

The Consumer Financial Protection Bureau has issued an extension for new mortgage disclosures, initially slated to go into effect in January. The agency will wait to implement the new disclosure forms until other mortgage rule makings have been completed. While some of these new disclosures were originally to be implemented by January 21, 2013, the…