Digital Closings, TRID Feedback & Privacy Laws Coming Soon

Dear Members,

More quick bits of info this week.  Check out the upcoming webinars on Digital Closings.  More info below.

TRID Feedback needed.  The CFPB is required (under Dodd-Frank) to perform an assessment of the TRID rules adopted 5 years ago.  They have begun the work around defining the data to be collected as part of this assessment.  The title and settlement industry has the opportunity to provide input on what type of data CFPB should collect and review.  I am serving on a committee for the American Land Title Association (ALTA) that will be working closely with CFPB on this effort so expect to hear a lot more from me on this topic!  Your input will be very valuable.

Privacy Laws are coming. This is one of the hot topics in our industry.  Private information about buyers and sellers has always flowed through our hands and we have always been very careful to protect that information.  In today's world, however, there are new risks to that private information getting viewed or even stolen by unscrupulous people.  State legislators are beginning to pay more attention to this and requiring businesses to do more to protect this information is a growing trend.  It is likely to be a topic of discussion in the upcoming Florida legislative session.  I will be paying close attention to this and will keep you in the loop if anything comes up.

Digital Closings are coming!  A recurring topic in my discussions with Members has been the coming of Digital Closings to your world.  You must learn about this new way to get documents signed in order to remain competitive.  So we have some great stuff for you in November - two webinars geared to show you how the technology works and what it looks like to you and the buyer/seller.  On November 19, we will have a demo of Pavaso and on November 26 there will be a demo of NotaryCam with the participation of a title agent in Texas that has used the platform.  Look for the announcements and the links to register coming soon to your in-box.

All for now.

Let me know what's going on and how we can help you!

Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
General Counsel and Secretary