Dear ITLA Members,
2016 marks the 25th year that I have had the pleasure of working in the title insurance industry. As I reflect on the past 25 years, I am amazed at how this industry has grown and the challenges that we, as a united group, have overcome. The Idaho Land Title Association continues to strive to bring our membership to-gether and keep you informed. Over the years I have always looked forward to attending the Annual ILTA Education Seminar in Boise. Not only does this seminar provide an enormous amount of education and current information to keep members “in the know”, but it also represents a great opportunity for Associa-tion members to collaborate with other industry professionals from around the state and discuss trials, trib-ulations, and successes. This interaction benefits everyone as we work together to navigate through our ever changing environment for the continued success of the title insurance industry. The 2016 ILTA Educa-tion Seminar will be held at the Grove Hotel in Boise on March 3rd and 4th and I hope you will plan to at-tend, as it will not disappoint. We have a fantastic line up of speakers that will address very timely and im-portant issues that impact our business.
March 3rd marks the fifth month of the implementation of the CFPB TRID Rule, now known as “Know Before you Owe Rule”. There is no doubt this has been a gigantic change and the transition has been challeng-ing at times, for us and for the mortgage industry. This is one of the many great topics that will be dis-cussed at the seminar. Mary Schuster with RamQuest will share tips and cautionary tales from what the in-dustry has experienced on a national level and an Agency panel of experts will discuss what we are seeing on a regional level.
There are two hot topics that have been discussed at the ILTA Liaison Committee meetings since Novem-ber of 2015 that affect YOU:
Closings out of County
The Idaho Department of Insurance has voiced concerns regarding escrow closings conducted in Counties different than the County where the land is located. A committee is being formed to dis-cuss the concerns which will include the ILTA, the Department of Insurance and the Department of Finance. The ILTA Board would like to present the Department of Insurance with a position statement based on the collective opinion of the membership. The ILTA’s position will need to be presented to the Department of Insurance by the end of March so time is of the essence.
? Changes to IDAHO ADMINISTRATIVE CODE IDAPA 18.01.56 (“Rule 56”)
A committee has been formed to determine necessary updates to Rule 56. Possible areas of discus-sion include trade association donations, marketing allowances, educational functions and technol-ogy advances.
These issues affect members differently based on the market size and geographic location. We have sched-uled time at the seminar to discuss the issues and will provide time for comments. As mentioned in the monthly ILTA Liaison Committee meeting minutes, the ILTA Board seeks comments from all members in all geographic locations. Your input is needed for the Board to fully understand how the issues impact dif-ferent members and areas. You can read more detailed information about these issues on the ILTA website at Idaholandtitle.com. Click on “Help Needed” and “Communications”. As mentioned, time is of the essence, so please do not delay in making your voice heard. You can submit comments directly to any member of the Board or email ILTA at .
MARCH 3-4 ED SEMINAR
It’s not too late to attend the ed seminar March 3-4 in Boise at The Grove Hotel. Take advantage of this opportunity for education on a number of hot topics and trending issues as well as networking opportunities and vendor interaction. In addition to the TRID discussions that Cindy identified in her “President’s Message” we will discuss Best Practices with an emphasis on cyber issues. Cyber issues have been identified by ALTA as a major area of concern for our industry – identi-fying and preventing. We will also have a message from Department of Insurance Director Dean Cameron and a discus-sion of rebate and inducement issues from Jim Scanlon of the DOI. We also have speakers on claims; fraud, deceptions and schemes; legislative issues; and, case law. Ada County representatives will advise us on the Tax Commission’s expand-ed definition of real property that now includes cell towers and bill boards. Flat recording fees will also be discussed. This is also a national trending topic that the ILTA has a committee exploring. We will have a guest speaker outlining this na-tionally trending topic with comment from Ada County officials. We conclude with a keynote presentation from Idaho Supreme Court Justice Daniel Eismann.
Together with a new location at The Grove Hotel we are also shaking up our PAC fundraising. Instead of the Casino Night and silent auction we will have an icebreaker immediately following the last presentation on Thursday. The silent auction will be conducted during the icebreaker. Please support IPAC and bring a silent auction item.
The ILTA thanks the following Vendors for their support of the March 3-4, 2016 Ed Seminar