Members,

The Liaison Committee met Wednesday, October 9, 2024, at 10:00 at Martin’s office and via ZOOM. Some of the issues discussed included:

1. Matt gave a DOI update. There were no new consumer issues. Exams continue to progress per schedule. Matt noted a couple of issues that have come up in audits regarding marketing activities. Entertaining producers of title business at charitable events is not an exception to compliance with the marketing rules – i.e. you can’t buy a golf team or a table and then just give it to a producer of title business. A second issue came up regarding developer rates – this is not permitted – deviated rates for certain customers or types of transactions are not permitted. The DOI rules, including our Good Funds amendments, were published and are on track for final DOI adoption and then for approval in the 2025 legislative session. Matt also advised there were no further comments at this time on the DOI 4 bills they are proposing for the upcoming session – 1) Insurance Data Security Act; 2) Group Capitol which monitors solvency and is an NAIC requirement for accreditation; 3) Unfair Trade Practices amending 41-1314 to create an exception for device mitigation; and 4) Wildfire mitigation pool. Matt further advised he has received questions about Home Title Lock and has referred parties to the local title agents when he gets these calls.
2. Niko gave a legislative report. The HOA Mgmt. and fee issue is being monitored with the realtors. It is important to establish facts so we have real case examples. If you have examples, please contact Martin and provide documentation. It is also recommended that clients go to the Attorney General Consumer Protection site and file a complaint. This will help establish a record with the AG’s office and help when we meet with the AG to seek enforcement of the violations.
3. ILTA will sponsor a homestead bill (Bob’s Bill). The proposed language has been circulated to the realtors and lenders without note. The bill would eliminate the need for a spouse to sign when separate property of one spouse is being sold or encumbered. This amends I.C. 55-107.
4. We met with Judy Boyle, who was the sponsor of the foreign investment law, on amendments to include divestiture and enforcement procedures. We expressed the enforcement provisions are typically handled by the AG. Rep Boyle will reach out to the AG to see if they will support enforcement.
5. Short term rentals, homeowner’s exemption, and flip transactions remain on the agenda and we will monitor with the realtors to see if they will be on their 2025 legislative agenda. The homeowner’s exemption bill from the realtors focuses on the pro ration. However, a new wrinkle has developed where Counties are inconsistent in their interpretation of the requirement of a driver’s license or state card as part of the exemption application. Some Counties are requiring the driver’s license or state card be Idaho issued. This impacts incoming owners who don’t have an Idaho license or state card. Uniformity would be helpful. This wrinkle is now on the realtor’s radar.
6. We continue to monitor the SOS and secured docs issue. We requested title companies be exempt.
7. UWM and Alita Group (Voxtur) AOL’s was discussed. No new info was shared. Please keep your ear to the ground and gather documentation so that the info can be presented to Matt.
8. Tied to this is the mission creep of Fannie Mae and the pilot title waiver program that Pres. Biden touted in his SOTU as a means to save first time homebuyers money in real estate purchases – total unsubstantiated nonsense. The GSE’s acting as title insurers is not only outside their charter but in violation of state regulation – much like what it sounds like UWM and Alita Group are doing with AOLs. We need to be vigilant and get documentation to the DOI.
9. The Board approved introduction of a Resolution from ALEC supporting state regulation of insurance. This is a bill that we will present.
10. A new issue from the same people who brought MV Realty is a Right of First Offer Agreements. These agreements are from Stone Brook Partners and are 30 year terms. Let us know if you see any of these.
11. Vacant land fraud was discussed as a very relevant and ongoing issue despite the amount of discussion and seminars. We will target in the fall for a webinar with the realtors.
12. Other issues discussed that are ongoing and will remain as topics for discussion are plant subscriptions allegedly in the works in Ada County – Matt advised the DOI does not consider a subscription tantamount to a lease; the CFPB interest in addressing contracts for deeds; and, tax foreclosure laws and possible requirements that any profits go to the original owner.
13. ILTA social media presence was discussed. Members and affiliates are encouraged to follow the ILTA on LinkedIn, Facebook and Instagram. Invite your contacts to follow.
14. Stay tuned for fall webinar announcements. The annual Ed Seminar is changing from March to August 10-12 at The Riverside in Boise. The Legislative Breakfast will continue as a stand-alone event in January or February.
15. See the attached challenge from Marie Hunter for members to obtain their ITP designation with a special added incentive from former ILTA President and ITP wannabe, Cameron McFaddan, who is working to get his ITP. We have two new applications so far – keep them coming!
16. The October 9 Liaison Meeting was also a special session and a vote was called to amend the By-Laws to clarify that dues are required from members in all Counties they are licensed in. This proposal was passed unanimously. A second proposed amendment to the By-Laws adding a Technology Committee to review and monitor our social media presence and website to enhance communication to our members and for outreach was also approved unanimously.

17. The next meeting is Wednesday November 13 at Martin’s office and via Zoom.