This may have significant impact on the title insurance industry. Fannie and Freddie both require title insurance. If they go away, whatever takes their place may not. Hard to imaging that investors would not want their investment insured but it is impossible to predect what our fine legislator might come up with.
Senators propose overhaul of housing finance – KXNet – Bismarck/Minot/Williston/Dickinson.
Here is ALTA’s reaction:
Washington, D.C., June 3, 2013 — The American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced today that it has launched a new mobile website to expand and facilitate access to industry news and member resources.
Visit m.alta.org on any mobile device to view the website.
“ALTA is excited to provide our members with more access to valuable industry information,” said ALTA President Frank Pellegrini. “Using this new mobile website, our members can keep updated with ALTA news, title industry developments, and interact with us on social media in a simple, user-friendly format.”
“The launch of this mobile site marks another step in ALTA’s continued efforts to deliver innovative and relevant resources to our members,” said Michelle Korsmo, ALTA’s CEO. “By providing on-the-go access to industry news and social networks, this tool meets the needs of title professionals working in a fast-paced and increasingly mobile world.”
Click here to watch a brief video summarizing the mobile site’s features and explore the new site from any mobile device by clicking here.
This is an interesting discussion over on Linkedin in the American Land Title Association Group.
The Act provides for exclusion of fees charged by creditor’s affiliates from the 3% Dodd-Frank “points and fees” threshold used to determine which loans qualify as Qualified Mortgages (QMs).
Check it out
