The Trusted Adviser
July-August 2017 | Volume 10 · Number 5

Applause for Consumer Alerts, ATG Lobbying in D.C.

Peter J. Birnbaum photoAll year we have been providing you information about how to protect your firm and your clients from wire fraud. The schemes targeting home buyers, sellers, and other parties to the transaction are now reaching alarming proportions. To refresh your recollection please take a look at our earlier communications:

Industry groups such as the American Land Title Association (ALTA) have issued multiple warnings about wire fraud and continue to be a great source of information for underwriters and the consumers we serve. Relatedly, the Consumer Financial Protection Bureau (CFPB) posted a notice to consumers July 7, 2017, echoing our industry’s concerns, Buying a home? Watch out for mortgage closing scams. We applaud the CFPB for listening to our views on how to protect and guide consumers.

On the same day, the CFPB finalized its series of amendments to Know Before You Owe or TRID (TILA-RESPA Integrated Disclosure). The amendments include helpful clarifications, but they fail to fix the requirement that results in inaccurate title insurance pricing disclosures. This is one of the most confusing and complained-about aspects of closings today. You can count on ATG to continue to work toward a better and more clear solution. Click Breaking News below for more information.

ATG (with the support of ATG FED PAC) continues to be the nation's leading advocate for the real estate attorney and their clients.

Peter J. Birnbaum
ATG President and Chief Executive Officer

ALTA Breaking News - CFPB Publishes Alert on Wire Fraud and Final TRID Amendments

[Last update: 8-21-17]

Back to Issue