December 17, 2015 — American Land Title Association (ALTA)
TRID Myth Busters: What You Need to Know When Sharing Closing Documents
The implementation of the CFPB’s Know Before You Owe regulation has brought up a number of questions regarding who is permitted to receive copies of closing documents, including the Closing Disclosure and alternate settlement statements, such as the ALTA Settlement Statements. It is important to note that the Know Before You Owe regulation did not implement any changes on data privacy; however, ALTA encourages title insurance and settlement companies to take this opportunity to review your company’s privacy policies to ensure they match your data-sharing practices. Read More at www.alta.org
TILA-RESPA Integrated Disclosures (TRID) rule effective date Saturday, October 3, 2015. Visit our TRID Information page:
TRID: Are You Ready?
Please be advised that the updated Realty Transfer Tax Statement of Value form recently distributed has been updated to correct an inadvertent rounding issue of the Common Level Ratio Factor. All links on our website as well as on the PA Department of Revenue’s website will direct you to the corrected form. Many thanks to our Title Issues and Records Committee for following up on this issue. REV-183 EX (10-14) form (click to download).
PLTA In The News
August 2014 - The Title Report, October Research, LLC - "Free Download: eTransactions Special Report"
For nearly 15 years, the PLTA has been vigilant in protecting its members from recorders who impose “unreasonable and illegal recording requirements,” and fail to properly discharge their responsibility to record submitted documents, according to Shatz.
To read more download the free report to read PLTA's Leonard A. Shatz, Esq., CLTP - page 14 "eRecording not a cure-all" article.
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