New Jersey Form and Rate Manual Revision – Effective December 31, 2017
Director Cordray officially resigned as Director of the CFPB in November and later announced he would run for governor of Ohio. President Trump immediately named his budget director, Mick Mulvaney, as the Acting Director of the bureau. However, prior to resigning, Director Cordray named CFPB’s Chief of Staff, Leandra English, as the Acting Director causing the CFPB to have two Acting Directors. Cordray believed he had the authority to name an acting director under Dodd-Frank and while President Trump believed he had authority under the Federal Vacancies Reform Act of 1998. Both Mulvaney and English showed up for work that Monday.
The U.S. House Financial Services Committee passed the ALTA-supported TRID Improvement Act of 2017 (H.R. 3978) by an overwhelming 53-5 bipartisan vote in mid-November 2017. The bill, introduced by U.S. Reps. French Hill and Ruben Kihuen, corrects the inaccurate disclosure of title insurance premiums on the TILA-RESPA Integrated Disclosures (TRID). Under the current regulation, the CFPB does not allow title insurance companies to disclose available discounts for lenders title on the CDF.
SoftPro announced a new integration with New Jersey Search Experts for ordering judgment searches, chancery abstracts, corporate status reports, UCC’s, assessment, utility searches, and many other reports and searches. Now SoftPro users can order New Jersey Search Experts’ products and services directly through SoftPro’s free business exchange portal, SoftPro 360, for quick turnaround and maximum efficiency.
As one of the largest independent escrow companies in Southern California, Homestead Escrow, has built a resume of success throughout its more than 17 years in the industry. Its commitment to customer care impacts every aspect of its business including its choice technology resources.
Although the decertification date of the 2006 ALTA Commitment has been pushed back to August 1, 2018, you can still use the new 2016 Commitment now! SoftPro has worked with the various underwriters to ensure that the updated 2016 ALTA Commitment is ready and available for you now.
Join the SoftPro team and other title professionals at the 19th Annual SoftPro User Group Conference on April 4-6, 2018! Exclusive to SoftPro users, the 2018 User Group Conference will take place at the beautiful Omni Amelia Island Plantation resort, Florida’s premier AAA Four Diamond destination island resort. The 1,350-acre property overlooks the blue water of the Atlantic Ocean on the east and the green marshland and Intracoastal Waterway on the west.
SoftPro announced an integration with one of the nation’s largest and oldest regional title insurers, Security Title Guarantee Corp. of Baltimore. SoftPro users, who are also agents of Security Title, can seamlessly generate policy and commitment jackets, closing protection letters, and electronically report insured risks directly through their SoftPro software.
We’re extremely excited to announce that SoftPro was named the winner of an NC Tech Award in the Mid-Size Company of the Year category!
Tags: Company News
ALTA recently announced that on August 1, 2018, both the ALTA Commitment (06-17-06) and the ALTA Short Form Commitment (10-16-08) will be decertified from the current collection of standard ALTA forms and moved to the archives. The original decertification date for the 2006 ALTA Commitment was December 31, 2017. The reason for the change in the decertification date is to have the date coincide with the decertification of the ALTA Short Form Commitment.