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THE PATH FORWARD

ALTA’s Strategic Priorities to Advance the Industry

Today’s Speaker

William Burding Jr., NTP

EVP/General Counsel

Orange Coast Title Company

billburding@octitle.com

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Strategic Priorities

OUR VALUES

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Remote Online Notary (RON)

• State laws in Virginia, Montana, Texas, Nevada, Indiana, Tennessee, Minnesota, Michigan and Vermont now allow for the use of RON in real estate transactions.

• During 2018, Secretaries of State

in Nevada and Texas will release

regulations for the use of RON.

• MBA-ALTA Model Bill

– Safe for Consumers

– Insurable

– Technology Neutral

• Resources: alta.org/RON

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Current Legislation - 2018Passed

▪ Indiana

▪ Michigan▪ Minnesota

▪ Tennessee▪ Vermont

Failed▪ California▪ Colorado▪ District of Columbia

▪ Florida▪ Kentucky

▪ Louisiana▪ Missouri▪ Nebraska

▪ Oklahoma▪ South Dakota

Active▪ Ohio▪ Pennsylvania

INFORMATION SECURITY

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www.alta.org/wirefraud

ALTA Resources

www.altaprints.com

• Member benefit

• Brand with company information and logo

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How can I protect my business?

• Accept that a breach/fraud will happen

• Conduct a risk assessment

• Take reasonable preventive measures

• Provide training and tips to all staff on an ongoing basis

• Develop and practice your response plan

• Stay abreast of the latest trends

SUBMIT ALL PHISHING EMAILS AND FRAUD ATTEMPTS TO THE FBI

IC3.gov

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WHAT IS

PHISHING/

WIRE FRAUD?

REPORT ALL PHISHING EMAILS AND FRAUD ATTEMPTS TO THE FBI at IC3.GOV

WHY YOU

SHOULD

CARE? $5.3B

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“ONLY YOU CAN PREVENT WIRE FRAUD”

RESOURCES AVAILABLE AT ALTA.ORG/WIREFRAUD

Data Security Laws & Regulation

• Insurance Data Security Model Law

– National Association of Insurance Commissioners (NAIC)

– Rules for insurers & agents

• Risk assessment

• Oversee third-party service providers

• Investigate data breaches

• Notify regulators

• Congress debating national data security law

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CUSTOMER EXPERIENCE

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Internet

Realtors/Agents

Family members/Friends

Open houses

Newspapers

Flyers/Brochures

TV

Magazines

Radio

86%

74%

67%

62%

47%

40%

36%

32%

24%

86%of home buyers use the internet

in the research

process

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Homebuyer Guide ResourcesMore than 60 useful tools!

Blogs Marketing

One-Pagers

PowerPoint

Presentations

Rack

Cards

www.alta.org/homebuyer

www.alta.org/alta-prints/

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www.alta.org/alta-prints/

www.alta.org/alta-prints/

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TALENT FOCUS

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BEST PRACTICES & ALTA REGISTRY

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Tool Box

• Visit the portal at www.alta.org/best-practices/faq.cfm

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Resources

• Elite Provider Program

– Help title and settlement companies implement the Best Practices

– Comprised of service providers committed to offering comprehensive benefits to the title insurance and settlement services industry

– Elite Providers provide effective solutions for ALTA members’ critical needs

– Discounts offered to ALTA members

www.alta.org/elite

Accurate. Efficient. Like a Jedi.

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The ALTA Registry is NOT

a verification system.

UPDATE FROM WASHINGTON, D.C.

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Sweeping Tax Reform

We need Congress to make the CFPB work better.

A consumer regulator should:

(1) encourage balance, stability and certainty

(2) give clear guidance

(3) welcome internal debate and deliberation

CFPB should be a bipartisan 5-member commission subject to Congressional appropriations

CFPB

• Less ‘Regulation by Enforcement’

– “We are working hard to make sure we tell you what the law is before enforcing it. Regulation by enforcement is gone. We will continue to enforce the law—including RESPA.” – Acting Director Mick Mulvaney

• Clear Guidance

– GUIDE Compliance Act or Give Useful Information to Define Effective Compliance Act (H.R. 5534)

– Standardize the Bureau’s process of providing rules and guidance to better protect consumers

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GSE Reform

• Congress has yet to enact comprehensive legislation to restructure our nation’s housing finance system

– Fannie Mae and Freddie Mac were put into conservatorship in September

2008 and received a taxpayer bailout of $187 billion.

• Treasury Administrative Reform

• Housing finance reforms should encompass:

– title insurance requirement

– preserve the 30-year-fixed-rate pre-payable mortgage

– allow small businesses to compete in the mortgage market

– equal access to credit in urban, suburban and rural communities

STATE ACTIVITY

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State Legislative Tracking Map

Title Action Network (TAN)

• Step 1: Join for FREE!

www.alta.org/TAN

•Step 2: Take Action!

– Watch for email alerts on state and federal legislation.

– Click the TAKE ACTION button to review a pre-drafted message to send to your legislator.

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Michigan Land Title Association

All-Stars• Matthew J. Barbour-Keir

• Debra A. Bartlett CLTP, NTP

• Carole Bullion

• John C. Bommarito

• Angela M. Crusoe

• Timothy M. Donovan

• Cindy Immonen NTP, CLTP

• Eileen K. LaPlante

• Angie Miller

• Bradley Miller

• Heather Moldovan

• Rose Moshier

• Nancy G. Pratt

• Kylie Quetell

• Thomas D. Richardson

• Jody Rogow

Michigan Land Title Association

All-Stars• Elizabeth Rozmarniewicz

• Maura A. Snabes CLTP,NTP

• Teresa M. Stuenkel

• Sarah M. Sutton CLTP, NTP

• Marcy Welburn

• Deborah A. Wiley NTP

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1800 M Street, NW, Suite 300S, Washington, D.C. 20036-5828 | P. 202.296.3671 | F. 202.223.5843

THANK YOU