Articles Tagged with ''American Land Title Association''

Diane Tomb named CEO of ALTA

Industry leader to head land title insurance trade association
The American Land Title Association has named Diane Tomb its new chief executive officer. Tomb, a 2017 HousingWire Woman of Influence who has over 20 years of experience in housing, will leverage her advocacy and public policy expertise on behalf of ALTA and its members.
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American Land Title Association CEO Michelle Korsmo stepping down

Trade group’s longtime leader leaving for the liquor business
For the first time in nearly seven years, the American Land Title Association will soon have a new leader. The trade group, which represents more than 6,200 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real estate attorneys, announced this week its longtime CEO, Michelle Korsmo, is stepping down to move to a vastly different industry.
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Monday Morning Cup of Coffee: Goldman Sachs teases big move into mortgages

Marcus for mortgages? Maybe
Once a big player in mortgage lending, Goldman Sachs’ footprint in housing finance has gotten significantly smaller since the financial crisis…but that could be about to change. Is Marcus for mortgages coming soon? It appears that's something the megabank is considering. That, and more, in your Monday Morning Cup of Coffee.
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Message from housing finance groups: Congress must work on GSE reform

Groups send joint letter to Mnuchin and Watt
Initial talks from the Trump administration on reforming Fannie Mae and Freddie Mac are not happening as quickly as originally anticipated due to a growing backlog of things to accomplish in Washington D.C. Despite the slowed-down timeline, some of the biggest housing finance groups joined together to remind housing officials to stay focused on reform.
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Consumer survey: Voters say CFPB should be run by a bipartisan commission

What would a commission would do for the bureau?
The highly contested leadership structure of the Consumer Financial Protection Bureau should be a bipartisan commission if it was up to voters to decide. The Consumer Bankers Association, the Independent Community Bankers of America, and the American Land Title Association teamed up to commission a poll of registered voters in key battleground states. Ever wonder what some consumers think of the CFPB?
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ALTA urges CFPB to warn consumers about real estate funds phishing scams

Schemes involve hackers posing as agents, title companies to steal mortgage funds
Last year, the Federal Trade Commission and the National Association of Realtors warned consumers they could be the next victims of growing trend of mortgage closing cost phishing schemes. But, according to the American Land Title Association, that warning was not enough to fully prevent future schemes from being successful and consumers are still falling victim to the phishing scams.
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Housing industry's biggest trade groups push FHA to reconsider PACE rules

Concerned about energy improvement loans being given super priority status
Last month, the Department of Housing and Urban Development and the Federal Housing Administration announced that the FHA will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage. But the fine print of the new rules has the housing industry's largest trade groups concerned.
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The CFPB needs to fix this title insurance issue with TRID

74 members of Congress agree with ALTA
The Consumer Financial Protection Bureau shocked the industry when it announced it would take another look at the Know Before You Owe rule. And now with the bureau accepting comments and feedback on it, the American Land Title Association is quick to bring up a glitch it sees in title disclosures.
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From HW Magazine

The key to solving TRID hiccups? Collaboration

Ambiguity on closing issues means communication is more important than ever
A key area where there’s been confusion among business partners is the sharing of closing documents containing non-public personal information (NPI). While TRID implementation has required lenders, real estate agents and title insurance professionals to radically change the way they conduct business and exchange information, it changed nothing in regard to data privacy.
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ALTA: This is where the CFPB got title insurance wrong with TRID

Requires providing wrong information to consumers
Diane Evans, president of American Land Title Association, addresses the glaring issue in the new TILA-RESPA Integrated Disclosure Rule in regards to title insurance. According to the new rule, the CFPB actually mandates that the correct and actual price of title insurance products be withheld from consumers.
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