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North Carolina Land Title Association 1500 Sunday Drive Suite 102 Raleigh, NC 27607 Ph: 919/861-5584 Fax: 919/787-4916 Email: info@nclta.org |
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![]() Items of Current InterestCarolina UpdateCarolina Update is our official newsletter, distributed quarterly to title insurance company members, attorney members, and other persons interested in the title insurance industry.Currently on this website you can read the Fall/Winter 2010 issue. Federal & State Legislator/Regulator SurveyNCLTA Members--Please let us know your relationship with any state or federal legislator, regulator, or governmental person of influence by completing our short questionnaire: Click Here to take survey. Final RESPA Rule Proposed by HUDThe Department of Housing and Urban Development (HUD) released its final rule on the Real Estate Settlement Procedures Act (RESPA) on November 12, 2008. The final rule and accompanying commentary is 341 pages long. HUD accepted many of the recommendations made by ALTA in its comments, testimony before Congress, and many meetings with the agency. Significantly, HUD has shortened the GFE and HUD 1/1A; dropped the closing script, volume discounts, and the "optional" reference to owners' title insurance; extended average cost pricing to all settlement service providers; and provided a right to cure for amounts in excess of tolerances and for HUD 1/1A errors.
Check the ALTA® RESPA Resource Center for the latest information on the RESPA Final Rule NCLTA Adopts ALTA "Principles of Fair Conduct" (11-8-07)NCLTA Celebrates 30th Anniversary (PDF, 3.6MB)North Carolina Title Insurance Rating Bureau (NCTIRB) files new comprehensive rate structure with Department of Insurance, effective July 1, 2007.April 18, 2007 - Final Approval of Standards for Electronic RecordingStandards for enabling uniform electronic recording as revised and adopted by the North Carolina Electronic Recording Council were approved by the North Carolina Secretary of State's office on April 18, 2007. Together with the work completed on June 20, 2006, by the Advisory Council on Electronic Notarization, North Carolina now has the full framework to implement e-recording and e-notarization across the state. Secretary of State’s Electronic Notary Home PageNC Electronic Notary Standards StatuteNew IRS Standardized Procedures for Balance Due Requests and Release of the Notice of Federal Tax LienWe make two documents available: (both PDF)
The ALTA Title Insurance Marketing Kit is now available on ALTA's website. North Carolina Department of Insurance approves title insurance premium for insured closing protection This action is consistent with the provisions of the Model Title Insurance Act which was sponsored by the National Association of Insurance Commissioners and provides for a charge for insured closing protection. That group recognized closing protection as a significant risk category for which the insurer must be compensated. Please note that the charge for closing protection is a premium and subject to the regulation of the Department of Insurance including sanctions for intentional deviation from filed rates. NC Department of Insurance determines that Mortgage Impairment Products are Title Insurance ALTA's new "Mortgage Impairment Resource Center" From HUD On the Legislative Front North Carolina General Assembly Web site FTC-DOJ: Are closings the practice of law? |
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Phone: 919-861-5584 | Fax: 919-787-4916 | Email: info@nclta.org © 2000-2009 North Carolina Land Title Association. All rights reserved. |
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