The National Association of Independent Land Title Agents (NAILTA) has joined with the Escrow Institute of California (EIC) and American Escrow Association (AEA) to participate in the Consumer Mortgage Coalition (CMC) in an effort to address third party vetting issues. The CMC is a coalition of trade organizations from the banking and finance sectors which…
In an important move for independent settlement service providers across the United States, Wells Fargo announced on July 25, 2013 that it was discontinuing its business relationship with at least eight (8) different controlled business arrangements as it seeks to downsize its role in the CBA marketplace. An article in American Banker helps to explain…
H.R. 1077 and S. 949 will raise the settlement cost of every residential mortgage loan transaction in the United States, thereby harming American mortgage consumers.
My Fellow Members and Friends It has been brought to our attention that two of our own have been affected by the devastating storms in Oklahoma. Various members of NAILTA and their families have sent donations to assist our fellow agents and the citizens of the town in their rebuilding process. I am asking you,…
We are excited to announce that this year’s NAILTA Annual Conference will be held at the Hotel Monteleone in New Orleans, Louisiana on November 10-12, 2013. Located within the historic French Quarter, this event at the Hotel Monteleone promises to be a wonderful mix of business and fun. We are currently lining up speakers and…
Never in the history of independent land title insurance agents has the choice between action and inaction become so clear and the need for urgent advocacy been so important. If you are an independent land title agent, you need to pay close attention to the following:
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…
As 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.
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,…
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…
