Please see below an email I got from the American Land Title Association’s (ALTA) Title Action Network (TAN). If you would like to join a united front with over 6,500 members from the title industry, join TAN at https://www.alta.org/advocacy/tan/. TAN is free, you do not need to be a member of ALTA, and is the grassroots network of the title insurance and settlement services industry. TAN had over 1,500 messages sent to Congress within 24 hours of President Biden’s SOTU earlier this month, and I know additional title and settlement professionals could be very helpful in presenting a unified voice to Congress.
Angela
FROM TAN:
Stop the Misguided Title Waiver Pilot
Tell Your Federal Elected Officials To Protect Consumers!
Dear Friend,
As a member of the Title Action Network, we need your voice to help fight for the title insurance industry in Congress! As you may have seen, President Biden announced last week in his State of the Union address a plan to waive the requirement for a lender’s title insurance policy on certain refinances.
This is a political move that offers a false promise of savings for homeowners which instead exposes consumers, lenders and taxpayers to greater financial risk.
As a title professional, you know President Biden’s decision is dangerous and misleading. But Congress can stop this. We need you to act now.
Last fall, Congress introduced the bipartisan Protecting America’s Property Rights Act. Championed by Representatives Andrew Garbarino (R-NY) and Vicente Gonzalez (D-TX) in the House of Representatives (H.R. 5837) and Senators John Kennedy (R-LA) and Katie Britt (R-AL) in the Senate (S. 2687), this bill would require all loans purchased by Fannie Mae and Freddie Mac (the GSEs) to be protected by a state regulated title insurance policy. It would also require enhanced oversight of any new programs or activities proposed by the GSEs, like this ill-advised title waiver pilot we successfully fought back against and defeated in 2023 with the help of Title Action Network members.
Please act today and ask your Member of Congress and Senators to Co-Sponsor this legislation! [LINK BELOW]
As title professionals in your community, your voice can make a difference in pushing this legislation forward. We must tell Congress to push back against the Administration’s misguided proposal and defend title insurance companies across the country!
If your Senator or Representative is already a co-sponsor, you will be asked to send them a thank you message.
For more information alta.org/tan
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 | F. 202.223.5843
www.alta.org | service@alta.org | @altaonline