The Liaison Committee met January 14, 2016 at Alliance Title Parkcenter. The meeting was also available via conference call. Some of the issues discussed included:
- The February 11 will be at Alliance Title Parkcenter and will also be available via conference call. The call in number is 866-951-1151 and conference ID is 6789500.
- Please mark your calendar for the 2016 Ed Seminar that is set for March 3-4 at The Grove Hotel in downtown Boise. The seminar is a great opportunity for education and networking. Please make your reservations – the room block is through February 10 and the block is under the Idaho Land title Association. The format is changing together with the location. No Casino Night but immediately following the last session on Thursday we will have an icebreaker and PAC silent auction (please bring your auction items to support our PAC fundraising). Featured speakers are Mary Schuster from Ramquest on TRID issues and Matt Reass and Matt Lemma from RynohLive on Best Practices compliance and cyber security issues. We will also have sessions on fraud schemes and claims as well as case law review that will include discussion of a recent case regarding railroad issues – seminar agenda attached. The Board is offering 4 scholarships of $250/each to go towards registration and travel costs. Please circulate the attached application within your offices. Registration will also be available online at www.idaholandtitle.comin the next few days.
- Jim advised the DOI sent out exam notice letters that will require all info be back to the DOI by March so their exams can proceed. Escrow rate filings are due by March 15. A new Advisory on recovering costs for information that exceeds the listing package also was briefly discussed – copy attached and posted on the ILTA website.
- Martin advised all is quiet on the oil and gas lease issue but he continues to monitor. The ILTA legislation to clean up the Parkwestdecision proceeds forward. Draft language is being reviewed and circulated and Martin will seek comments from the bankers, realtors, builders and engineers so we are prepared in advance of moving forward. We will also be working with Sen. Davis and Representatives Lynn Luker and Luke Malek as well.
- Ric and Jesse met with the Association of Counties regarding the flat recording fee issue. A fixed or flat fee per document versus cost per page seems in line with the ALTA and national trend as it will help with estimation of fees and clearing up disbursements of small checks that arise as fees are finalized. Initial contact with the Counties seemed receptive. We will continue to dialogue with the Counties with a target to addressing in the 2017 legislative session. Discussion centered on any proposal being revenue neutral. The Counties meet the first week of February. If you have comments on this issue please contact Ric or Jesse.
- There was discussion on the issue regarding closings done out of the County from where the property is located. Please send comments to Jim but also send comments to the ILTA. The ILTA wants to hear from all members as the board will craft an ILTA position to present to the DOI. Jim indicated that he had received several comments that ranged from agents wanting the closing to remain in the County where the property is located to comments that it is not an issue. Discussion seems to indicate there are a couple different scenarios in play so this needs to be clarified. In an order placement or referral scenario from out of County the issue may also involve possible notice (or lack thereof) issues to the consumer as to an option of closing in County as well as possible CPL issues as the closing agent needs to be affiliated with the same underwriter that insures the property. This issue will be brought up again at the February 11 meeting as well as at the ed seminar March 3-4. The comment deadline and positions to be taken and forwarded to the DOI is March 15.
- Similar discussion was had regarding possible Rule 56 changes. Cameron is heading a committee and he will reach out to committee members but the matter will also be on the agenda for the Feb 11 meeting and at the ed seminar March 3-4.
- The 2016 Pacific NW convention is set for September 9-11 and will be hosted by Oregon in Sunriver.
- The next meeting is 10:00 February 11 at Alliance Tile Parkcenter with conference call in at 866-951-1151, conference ID 6789500.