The Liaison Committee met Thursday June 11, 2015 at Alliance Title Parkcenter. Some of the issues discussed were:
1. Jim was unavailable as he was participating in a title audit. However, he advised via phone that things were relatively quiet. The audits are moving along good. Jim advised that as the process unfolds the DOI is tweaking its processes based on findings and understanding.
2. Lyn and Martin gave a legislative update. Regarding the oil and gas lease issue they advised the Dept of Lands is pushing the issue to the banks. The realtors have surfaced and it is unclear at this time what their concerns are although it appears Gem and Payette County realtors have concerns.
3. There is nothing new on the Parkwest issue. This will be a work in progress through the summer as Martin and Lyn coordinate with Sen. Davis’ office.
4. Sen. Dean Cameron is the new DOI Director. Sen. Cameron is a long time legislator from Rupert with a background in health and life insurance. He is very pro business. Lyn and Martin are inviting Dir. Cameron to the next meeting.
5. Rule 56 was discussed regarding potential review. The board had reviewed a study group on the Rule and felt that as a whole this was not a priority as the issues of interest seemed to be concentrated to the large markets and not applicable across the board to all members. Some of the issues identified were ed training due to the DOI advisory that reviewed ed training very narrowly as some training goes beyond title and escrow; donations to associations ($2,000/license per year questioned as too low for Ada and Kootenai Counties); the DOI interpretation that title companies giving breaks on title insurance to employees was a conflict of interest; and, new technology regarding apps, etc. that don’t’ seem to fit with the language in the Rule. If you have an opinion on these type of potential amendments – making changes or not making changes – please respond with feedback.
6. Matt brought up SB 1069. This bill was brought by Sen. Davis and amends the life of a money judgment from 5 years to 10 years. Attached is a copy. This law goes into effect July 1 and applies to judgments created July 1 forward.
7. American Tax and Property Recording/SLK Global was discussed as a potential unauthorized product. The matter was submitted to Jim for review. If you have information regarding this entity or its product please contact Jim.
8. The Pacific NW Convention is on the horizon. It is August 6-8 at the Coeur d’ Alene Resort. Don’t miss out on an opportunity to hear national speakers focusing on CFPB, a CFPB panel with lenders and realtors, and other relevant education and networking with peers from Idaho, Utah, Oregon, Washington and Montana. The hotel room block expires June 26 so make your reservation as soon as possible by calling the Resort at 888-976-3198 (ask for the Idaho Land Title Convention Rate).
9. The next meeting was changed to 10:00 Friday July 10 at Alliance Title Parkcenter.