I want to welcome our attendees, vendors and loyal sponsors to our/ your 7th Annual Education Conference in the historic city of Savannah, Georgia. Ranked by history as the first colonial and state Capitol its history dates back to the 16th century as a leading port city coveted by both Spain and later England. Founded…
We are proud to announce that Michigan independent land title agents have formed the Michigan Association of Independent Land Title Agents (MAILTA) in affiliation with the National Association of Independent Land Title Agents (NAILTA). The newly-formed organization is now taking membership applications from interested parties. If you would like to out more information about MAILTA membership opportunities, please send…
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…
The U.S. Senate Finance Committee has approved a bipartisan bill that would extend the Mortgage Forgiveness Debt Relief Act (MDRA) through 2013. Why is this important? Several reasons: The debt relief law spares homeowners who receive principal reductions on their mortgages from being hit with hefty federal income taxes on the amounts forgiven. Without it, millions of homeowners…
Today, the National Association of Independent Land Title Agents (NAILTA) submitted formal public comment concerning the CFPB’s Integrated Disclosure Rule under the Dodd-Frank Act. In summary, NAILTA’s Response to the CFPB on New HUD/TIL Disclosures: The proposed rule making can be found by clicking here. A summary of the rule can be found by clicking here. The…
Secure Settlements, Inc. provided a response to NAILTA’s white paper entitled, “Third Party Vetting Companies: Are they Legal or Necessary?”. In the letter, SSI argues that its vetting process, although not regulated by any administrative authority and not a test of agency competence, complies with the standards established by CFPB in its Bulletin 2012-03. SSI…
On April 13, 2012, the CFPB authored a benign looking guidance bulletin known as CFPB Bulletin 2012-03 to amplify their expectation that supervised banks and nonbanks should have an effective process for managing the risks of service provider relationships. Now, there are third party vetting companies that have established themselves under the guise of helping…
What is an independent land title agent? The question has eluded the National Association of Insurance Commissioners, the various state departments of insurance, the U.S. Department of Housing and Urban Development and state and national land title associations for over a century. No other title insurance constituency or organization has ever created an adequate definition to describe an independent land title agent — until now.
