The Liaison Committee met Thursday February 8 at the DOI. Some of the issues discussed included:
1. Jim advised he was finalizing the last exams for 2017 and all looked good. Examination reports are available to review on the DOI website. Notices for this year’s exams have gone out. Jim advised the rule changes to Rule 25 and 56 regarding cancelation fees were approved in the House Business and Senate Commerce Committees and will go to the legislature for concurrent resolution with an anticipated approval but not effective until the legislative session ends.
2. Jim expressed a desire of the Director and the Republican led legislature to eliminate and consolidate rules. This is a general theme and goal with nothing specific regarding title at this time.
3. Jim advised the DOI has received contact from an entity called States Title that is licensed in Illinois. They issue policies based on algorithms versus title plant data and want the plant law changed.
4. Jim also advised of an entity called Closing Source. Investigation indicated they are a time share scam that utilize a local Meridian number as a front. The DOI issued a cease and desist Order on 2/7/18.
5. Permitted education topics were discussed with Jim with particularity to cybersecurity issues. Because this is becoming a national issue of concern Jim advised the DOI is good with title companies using this as a title topic for ed with realtors, lenders, etc.
6. An entity called Homes for Heroes was also discussed. They are apparently soliciting title companies in some type of program to generate deviated rates. Jim advised that current Rules do not allow deviated rates.
7. Another entity was also discussed – 208 Cares. This is apparently a charitable entity and it was discussed that making a charitable donation was allowed but prohibited if it is tied to a specific transaction.
8. Jim also reminded about the annual escrow rate filing due March 15. A copy of the DOI Reminder is attached. Please contact Jim with any questions.
9. Martin advised our flat fee amendment bill and employee reimbursement clarification bill to include escrow with title were both introduced 2/7. The realtor’s bill on HOA fees was also introduced on this date. Martin indicated there was some response to the HOA fee bill from the Property Management Association that liked language that was used in UT.
10. Mark your calendar for the 2018 Ed Seminar on March 8-9 at the Grove Hotel – Thursday/Friday format and get your registrations in.
11. Mark your calendar for the 2018 Pacific NW Convention hosted by the ILTA at the Coeur d’ Alene Resort August 2-4.
12. The next meeting is scheduled for 2:00 Wednesday at The Grove Hotel.