Source: http://nyslta.site-ym.com/blogpost/1230749/News-You-Can-Use
Timestamp: 2017-07-27 16:30:13
Document Index: 594404680

Matched Legal Cases: ['§ 500', '§ 500', '§500', '§500', '§ 500', '§ 500', '§500']

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These comments can be viewed by all visitors to the site.
DFS County Clerk Nassau County technology Land Records Executive Committee Regulations EC change management FinCEN Reg 208 US Treasury ALTA Consumer protection public relations Agenda Convention fees GTO cybersecurity data security Licensing NYS Dept Tax & Finance Reg 206 CE CFPB cyber Education exemptions IDA Formal Comments on DFS' Proposed Regulations
On Monday, June 16, 2017 the NYSLTA submitted formal comments to the NY Department of Financial Services via email.
The letters are attached to this blog post.
The content of the letters was approved by the Executive Committee.
The effort to product these comment letters was a led by the Government Regulations Committee with support from the Officers.
Reg 206 comment letter issued 6-19-2017.pdf (1.62 MB)Reg 208 Comment letter issued 6-19-2017.pdf (2.27 MB)
Tags: DFS EC Executive Committee Reg 206 Reg 208 Regulations Share
June Executive Committee Meeting Agenda
1. Call to order – President Collins
2. President’s Greeting – President Collins
3. Approval of May Minutes - Executive Director Treuber
4. Exec Director Report – Executive Director Treuber
5. Nomination of Officers for the 2017-2018 Membership Year – Executive Director Treuber
a. The Executive Committee will take nominations for President-elect and Treasurer
6. Treasurer Report – Ms. Pereyo
7. Title Section Report – Chair Bagwell
8. Agent Section Report – Chair Giliotti
9. Government Regulations Committee Report – President Collins
a. Update on the progress of the response to proposed regulations
b. Time frame to completion
c. War gaming/scenario planning for outcomes
d. Options for Litigation – Legislation
e. Next steps – phone vote, July EC meeting 10. Adjourn
Tags: DFS EC Executive Committee Regulations Share
1 of these 3 may change how you make a living
[This is a revised version of a broadly distributed email sent on May 22, 2017]
The proposed DFS regulations have the potential to turn the title industry upside down. But together, we can do something about it.
Scroll down to see what the NYSLTA is doing to provide you with the tools and opportunities that will keep the people and companies in the title insurance business a vital part of the real estate finance economy in New York State.
Ring the alarm. Put out the fire.
It is not enough to complain and bring grievances to light. No one knows title insurance better than we do and every time we talk about the problems in these regulations, we will be asked, "What do you want to do about it?" A vigorous discussion is going on the title industry and the Association is working on releasing a statement that meets the needs of underwriters, agents, abstractrers, attorneys, closers and consumers. Get off your seat.
We are asking our Members to take the lead and we invite all title professionals to join us in taking action.
First - Sign up for lobby day. The linked page will explain about meeting in your legislators' local office, how we will schedule the meeting for you and prepare you with Talking Points. This is super important.
And if are not a member of the Title Action Network (TAN) you should sign up today.
Next - If you can possibly make it, attend the Town Hall meeting on Long Island at 10 AM on June 7. This event is free to everyone but we ask that you pre-register. We are also planning a live webcast Town Hall later in June.
Best - Attend the annul meeting and convention in Syracuse August 20-23. We have more that unites us than opposition to wrong-headed regulations. Meet with your peers, build your network and learn how to make your business stronger.
Tags: Convention DFS lobbying Long Island Reg 206 Reg 208 Regulations Town Hall Share
A Hard look at DFS regs 206 & 208
A Message to NYSLTA Members and all NY State Title Insurance Professionals
Two weeks ago, the NYS Department of Financial Services (DFS) introduced two new proposed regulations covering our industry. This letter is a report on what your Association has done to date and our planned next steps.
We are analyzing the regulations for their impact on the title industry and the real estate marketplace.
We have created an action plan and a time line for our response.
The proposed regulations would affect almost every aspect of the business of title insurance, from when you first market to a client to when you close a file and remit the premium
Requires underwriters to take an immediate 5% rate reduction on all polices or instead restate their data for the preceding six years
Limits charges for ancillary services
Prohibits all marketing and advertising activities including, but not limited to CLE’s, sporting events, meals and even giving away a ballpoint pen
Eases regulation of joint ventures and controlled businesses, much less strictly than RESPA
Changes significantly the compensation of closers, including elimination of “pick-ups” and gratuities
Changes the closing process and the accounting/remitting processes in both Zone1 and Zone2
We strongly encourage you to click on the links below and thoroughly read the regulations for yourself. The Officers, the Executive Committee, the Government Regulations Committee, Association Staff, our lobbyists and our communication firm are focused on the challenges posed by the regulations.
We have until June 19 to submit comments to the DFS. We recommend that you study the regulations and determine how they will affect your business. There is an important role for the Members and your voices are needed to accomplish our goals.
We are developing ways for you to express your opinions so as to have the most impact. Stay in contact with the Association and spread the word to your staff, your clients and other real estate professionals.
By misunderstanding how the title insurance industry operates, the DFS has proposed regulations that will not serve the consumer but will impede the real estate marketplace and inflict irreplaceable damage to the livelihood of thousands of people.
A very great deal is at stake here.
NSText_208_New.pdf (145.68 KB)NSTextProp_Title_Regs_206.pdf (178.86 KB)
Tags: DFS Reg 206 Reg 208 Share
May 9 Executive Committee Meeting Agenda
Call to order – President Collins
President’s Greeting – President Collins
Approval of April Minutes - Executive Director Treuber
Exec Director Report – Executive Director Treuber
Treasurer Report – Ms. Pereyo
Government Regulations Committee Report – Chair Partridge
Report on review of proposed DFS regulations 206 & 208
Discussion of strategic directions
Title Section Report – Chair Bagwell
Education Committee – Chair Labar
Legislative Committee Report – Chair Keyse
Membership Committee Report – Chair O’Hara
Public Relations Committee Report – President Collins
The next Executive Committee Meeting will be held at 10:30 am on June 13, 2017 at First Nationwide Title Agency, 50 Charles Lindbergh Blvd. Uniondale, NY 11553
Tags: Executive Committee Share
Cyber Reg Limited Exemption Filing
The DFS Secure Portal is now accepting the filing of Notice of Limited Exemption, as cited in § 500.19 of 23 NYCRR 500.
Here is a link to the Portal - https://myportal.dfs.ny.gov/web/cybersecurity/
COMPLIANCE TIMELINE FOR COVERED ENTITIES WHO MEET THE LIMITED EXEMPTION REQUIREMENTS (§ 500.22)
March 1, 2017 - Effective Date of Regulations August 28, 2017 - Transitional Period ends – compliance requirement begins for most provisions of the regulation (§500.22)
February 15, 2018 - Notice of exception must be filed with the DFS (and each year thereafter on 2/15) (§500.17)
March 1, 2018 – Risk Assessment to be completed (§ 500.09)
August 30, 2018 – Policy must be in place for periodic disposal of NPI (§ 500.13)
March 1, 2019 - Develop a Third Party Service Provider Security Policy (§500.11)
Tags: cybersecurity DFS Share
April 11 Excecutive Committee Agenda
The Executive Committee meets at 10:30 AM Tuesday, April 11 at Benchmark Title, 222 Bloomingdale Road.
Immediately following the EC, there is an important Agents Section meeting.
We will experiment with presenting this meeting via the internet using Go-To-Meeting. Instructions to log on, including the URL and the teleconference number on on this page
https://nyslta.site-ym.com/events/EventDetails.aspx?id=946149&group=
You can hear and speak using your computer microphone and speakers or you can also dial in using your phone. Call: (571) 317-3112 Access Code: 410-940-973
Approval of February 2017 Minutes - Executive Director Treuber
Treasurer’s Report – Ms. Pereyo
Sabol Award Nominations Committee Report – Ms. Pereyo and Ms. McElligott
The next Executive Committee Meeting will be held at 10:30 am on May 9, 2017
Heights Abstract Ltd.
Pinnacle Land Services, LLC
Title Help Agency LLC
The March Executive Committee meeting was cancelled due to a snowstorm.
We issued seven email blasts in February, averaging an email blast every four days. In February, the Government Regulations Committee issued a memo on the cybersecurity regulation (23 NYCRR 500), which is posted in the Government Regulation File Library. We also issued alerts on the IDA Mortgage Tax refund, ACRIS refunds, the Agent Data Call webinar, the extension of the FinCEN GTO, the agent license renewal period and the upcoming Town Hall meetings.
Our web analytics company, Web Solutions, has been working with NYSLTA Staff to place tracking code on our sites. Initial conclusions are positive and are favorable for the objective of making nysslta.org an informational hub for title insurance and as a channel for feeding traffic to member web sites. The analysis includes the member site and the online directory. Members who are interested may contact me to request further information from the web audit.
The Town Hall scheduled for March 15 in Westbury was cancelled due to the March snowstorm. It has been rescheduled for April 26. The April 5 Town Hall was held at the Tarrytown Doubletree Hilton and the May 10 Town Hall will be at the Doubletree Hilton in Rochester.
There is a CE webinar scheduled for April 19, the topic is Sales Tax.
Agent Section Report
· Wells Fargo update · Town Hall meetings · Bar Assoc. meetings · FinCEN · ECB Subpoenas · Agent Licensing · IDA update
Long Island Town Hall Rescheduled
The Town Hall meeting on Long Island that was cancelled due to a snow storm has been rescheduled.
The event will take place at 10 AM on Wednesday April 26 at the Holiday Inn in Westbury.
To register for this free event, go to the CALENDAR & EVENTS tab on this site or CLICK HERE.
Tags: Long Island Nassau County Town Hall Share
EVENTS CANCELLED Posted By Robert Treuber,
ALL NYSLTA EVENTS FOR MARCH 14 AND 15 ARE CANCELLED DUE TO FORECAST WEATHER CONDITIONS.
There will be NO Executive Committee meeting on Tuesday March 14.
The Long Island Town Hall on March 15 will be rescheduled.
Agenda - March Executive Committee meeting
NOTE – This meeting will be webcast. Remote attendees should connect via computer, tablet or smartphone using the link https://global.gotomeeting.com/join/410940973 You can hear and speak using your computer microphone and speakers or you can also dial in using your phone. Call: (571) 317-3112 Access Code: 410-940-973
Agent Section Report – Vice-chair Stancanelli
The voting members of the Agents and Abstracters Section will be:
DeAnna Stancanelli
The next Executive Committee Meeting will be held at 10:30 am on April 11, 2017 at Benchmark Title, 222 Bloomingdale Road, White Plains NY.
Tags: EC Executive Committee Share
6/19/2017Formal Comments on DFS' Proposed Regulations6/12/2017June Executive Committee Meeting Agenda
8/20/2017 » 8/23/20172017 NYSLTA Annual Meeting and Convention