Congress has introduced two pieces of bipartisan legislation known as the 21st Century Glass-Steagall Act - H.R. 3711 (co-sponsored by Rep. John Tierney (D-MA) and Walter Jones (R-NC)) and S. 1282 (co-sponsored by Sen. Elizabeth Warren (D-MA) and John McCain (R-AZ))...
NATIONAL ASSOCIATION OF INDEPENDENT LAND TITLE AGENTS
The Sprint to January 10th: HFSC Won’t Vote on H.R. 3211 This Year
Last week, we updated you on our progress with H.R. 3211, the so-called Mortgage Choice Act, that is being pushed through Congress by RESPRO, the banking lobby and others with affiliated business interests in the title insurance industry. We are happy to report that...
The Sprint to January 10th: Update on HR 3211
RESPRO and the banking lobby continue their efforts to push the Mortgage Choice Act in Congress. The bill now has 26 co-sponsors, the vast majority of which are Republicans, and RESPRO has succeeded in getting the Ranking Minority Member, Rep. Maxine Waters (D-CA) to...
HUD Ten Part Test Held Unconstitutional in Court of Appeals
U.S. Court of Appeals Issues Ruling in Carter: Shortly before everyone left for their Thanksgiving holiday, the United States Sixth Circuit Court of Appeals in Cincinnati, Ohio issued a decision in the closely-watched Carter v. Welles Bowen Title, et al., case. The...
CFPB files amicus brief in well-known Edwards v. First American kickback case
On Monday this week, the Consumer Financial Protection Bureau(CFPB) files amicus brief in well-known Edwards v. First American kickback case. From the CFPB website - This case concerns the types of evidence a private plaintiff needs to put forward to demonstrate that...
H.R. 1077 is Dead; Replaced with H.R. 3211
Never underestimate a determined opponent. On September 28, 2013, shortly before Congress shut down, a bipartisan group of representatives from the House Financial Services Committee introduced a RESPRO-sponsored piece of legislation known as H.R. 3211, the Mortgage...
Why Congress Should Oppose H.R. 1077 and S. 949, the Consumer Mortgage Choice Act
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. The Consumer Mortgage Choice Act is designed solely to provide lenders, who would otherwise be...
Pro-CBA Forces Reintroduce Harmful Pro-Affiliate Bill H.R. 1077
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:...
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....
Help Stop Referral Sources from Exempting AfBAs Under Dodd-Frank
The referral source lobby is making a last minute attempt to try to amend Dodd-Frank to exempt “affiliates” or controlled business arrangements from the 3% cap rule under Dodd-Frank. Legislation which exempts affiliated business from certain provisions in the...