ALTA Federal Conference Update

Find out what resources you can take advantage of, such as Title Action Network and your local RECs.

Dear Members,

I attended the ALTA Federal Conference in Washington, D.C. in mid-May. Did you know:

• The title industry employs more than 108,000 professionals?
• The title business is made up of many, many small businesses. The average office employs 3 people!
• The title industry collects $4.8 BILLION in back income taxes and $325 MILLION in unpaid child support annually!
• We have offices in every county in every state in the U.S.

The conference was a great opportunity to establish connections with our Florida representatives (in both the Senate and the House). But it was also a great way to get to know other people in the industry that are dedicated to defending and promoting our industry. I was reminded that each of us can make a difference by reaching out to our Senators and Representatives personally or by supporting those who do.

The Florida group met with the offices of Senator Nelson and Representatives Graham, Mica, Ross, Murphy, Crenshaw and Jolly. In some situations we met with staff and in others with the Member of Congress. It was a great opportunity to refresh their memory about TRID/KBYO and the confusing way in which title premiums must be disclosed. We also made sure they knew about CFPB’s announcement of their intent to issue a Notice of Proposed Rulemaking in July of this year. We want to be able to reach out to them during that process and get their assistance on these important issues.

Here is an EASY and FREE thing that you can do to help – join the Title Action Network (“TAN”). This is the title insurance industry’s free grassroots organization dedicated to explaining the value of title insurance to regulators and lawmakers. TAN is 100% free and only takes 90 seconds to join. For more info and to join, visit www.titleactionnetwork.com.

ALTA is promoting its Homebuyer Outreach Program (HOP), an initiative designed to educate consumers on the value of title insurance and hiring professionals to handle the transaction. HOP is a great program but we have our own, home-grown resource – the Florida ARECS website at www.flarecs.com. Visit it today and view the Consumer page. This is a great resource for you to provide to your clients, especially first time homebuyers. There is information for sellers, too! If you aren’t active in your local Real Estate Council, please consider joining and taking advantage of this incredible resource!

The summer season is here! It’s hot here in Central Florida. I hope each of you are as busy as you want to be and that you have a healthy and productive summer.

As always, thank you for your support of The Fund.

Best Regards,

Melissa Jay Murphy
Senior Vice President and
General Counsel