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Dec 2018 Executive Committee Meeting Agenda

Posted By Robert Treuber, Friday, December 7, 2018

 

EXECUTIVE COMMITTEE MEETING
New York State Land Title Association
Benchmark Title Agency
222 Bloomingdale Road, White Plains NY
December 11, 2018


AGENDA
1.    Call to order – President Stancanelli
2.    President’s Greeting – President Stancanelli
3.    Approval of November Minutes - Executive Director Treuber
4.    Exec Director Report – Executive Director Treuber
5.    Treasurer Report – Mr. Frates
6.    Guest Speaker – Ms. Nagy, Executive Director TIRSA
7.    Legislative Advocacy Report – President Stancanelli
8.    Title Section Report – Chair Keyse
9.    Agent Section Report – Chair Giliotti
10.    Charitable works Committee – Chair Roper
11.    New Business
12.    Adjourn

Tags:  Agenda  Executive Committee 

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Oct 2018 Executive Committee Meeting Agenda

Posted By Robert Treuber, Tuesday, October 16, 2018
Updated: Tuesday, October 16, 2018

 

NOTE -

This meeting is closed to new registrations. The meeting space is "at legal capacity".

 

Members may audit via conference call.

 

To get the call-in number, log-in to the Member site and go to: https://nyslta.site-ym.com/page/Exec .

 


 

EXECUTIVE COMMITTEE MEETING

New York State Land Title Association

TitleVest

110 East 42nd Street

October 17, 2018

10:30 AM

 

 

AGENDA

Call to order – President Stancanelli

President’s Greeting – President Stancanelli

Approval of September Minutes - Executive Director Treuber

 Exec Director Report – Executive Director Treuber

Treasurer Report – Mr. Frates

Litigation Committee Report – Mr. Estrella & Mr. Giliotti

Legislative Initiative – President Stancanelli

Title Section Report – Chair Keyse

Agent Section Report – Chair Giliotti

a.       Mt. Vernon RPT

b.       FinCEN contact person

c.       Core Title Service

d.       Defense Fund

e.       Agents Dues

f.        Mutual Indemnity Agreement

g.       PAC

Education Committee – Chair Labar

Law Committee – Chair Danzi

Newsletter Committee Report – Chair Schirtzer

New Business

Adjourn

 

The twelve voting members of the Agents and Abstracters Section will be:

DeAnna Stancanelli

Richard Giliotti

Vincent Danzi

Nancy Farrell

Stephen Saler

Tommy Tafuri

Bill Collins

Andrew Zankel

Mark D’Addona

Paul Spano

Sarah Labar

Phil O’Hara

 

The next Executive Committee Meeting will be held at 10:30 am on November 13, 2018 at First Nationwide Title Agency, 50 Charles Lindbergh Blvd. Uniondale, NY 11553.

 

 

Tags:  Agenda  EC  Executive Committee 

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First Impressions of the NYSLTA Convention

Posted By Tim Su - SJ Carroll Jr, Inc, Wednesday, September 5, 2018

 

 
As a first time attendee to the NYSLTA Annual Convention I wasn’t sure what to expect walking in the front door of The Sagamore. However, the immediate warm greetings from familiar and not-so-familiar faces was a good indicator to what the convention would be like.
 
Starting with registration to the catered meals, you could tell that everything was well planned and thought out. The location was beautiful. Walking straight through the double doors in the back of the lobby, you had a gorgeous landscape view overlooking Lake George. The information sessions and CE that the NYSLTA had slated was, as always, informative and relevant. 
 
I still find it a bit daunting to enter a room of people who know each other, but don’t know you. However, from the bonfires on the first night to the last song at the gala, there were individuals who made it a point to come up to me, the "new kid", and introduce themselves, their families and their colleagues. This was not just an isolated incident but a prevailing attitude of most that attended. The true character of those that comprise the New York title industry showed especially through the generous donations, bids and fundraising during the charity night. 
 
Thanks Bob and Regina for hosting a great convention. Looking forward to seeing everyone at the next one!

 

Tags:  Annual Meeting  Convention 

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Insurance Chair Cahill letter of Aug 20, 2018

Posted By Robert Treuber, Monday, August 27, 2018
Updated: Monday, August 27, 2018

 

While many of us were at the NYSLTA Convention the Association received a letter from Assembly Insurance Committee Chairman Kevin Cahill. The letter was read to the members in attendance at the convention and is included here for the review of those members who were not with us. The letter sends a message consistent with that presented by the Officers at the Agent Section and Title Section meetings and General Session at the Convention.

Regulation 208 may have been annulled, but members should be mindful that all other laws, rules and regulations are still in effect. This includes Regulations 206 and 500 (Cybersecurity), as well as your responsibility to your closers and adherence to the TIRSA Rate Manual and the Insurance Law, especially section 6409(d). We urge you to continue to conduct yourselves as good title professionals and reach out to your underwriters for guidance or with questions.

We will discuss the letter, Chairman Cahill’s request that we adopt a code of conduct and other options at the September Executive Committee meeting.

 


Chairman Cahill's letter is attached to this blog post as a PDF.
Click the link below to download.

Download File (PDF)

Tags:  Insurance Committee  NYS Assembly  Reg 208 

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Recap and Status of Litigation

Posted By Jean Partridge, Agent Section Vice-chair, Wednesday, August 1, 2018

 

The recent decision by Judge Rakower and the ensuing developments have been overwhelming to understand at times.  Much of this complexity was explained at the two Town Hall meetings but of course every member was not able to attend those sessions.

Therefore, we are providing you with a brief summary of the status of the litigation below.  I will do my best to keep this simple and concise.

  •     We brought our suit in the NY State Supreme Court in New York County.
  •     The case was assigned to Judge Rakower and pleadings were filed by our attorneys.
  •     The Attorney General’s (AG) office representing the DFS replied to our pleadings and we responded.
  •     A hearing was held before Judge Rakower on  June 14, 2018.
  •     Judge Rakower rendered a decision on July 5th.
  •     The decision effectively nullified Regulation 208 in its entirety.
  •     The AG filed a notice of appeal on July 6th.
  •     The AG immediately notified our attorneys of their intention to seek an emergency stay of the judge’s decision. An emergency stay, If granted , would postpone the judge’s ruling of annulling the regulation and “reimpose” the Regulation 208 until the case was heard on appeal in the Appellate Division).
  •     The AG later informed our counsel that they would NOT be seeking an emergency stay.
  •     Both the AG and NYSLTA must file additional pleadings with the Appellate Division prior to the next court appearance.


The earliest this matter could come before the Appellate judges is October. Given the congestion of the court’s schedule, it could slip to late October or later.  Until then, the regulation 208 is annulled.   All other regulations pertaining to the title industry remain in effect.

 We will continue to keep you advised.

Tags:  Article 78  DFS  litigation  Reg 208  Regulations 

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The new Yonkers RPT form is here!

Posted By Robert Treuber, Monday, July 30, 2018

 

The City of Yonkers has a new RPT form. 

 

NYSLTA Members can access it from the COUNTY & MUNICIPAL file library on this page -
https://nyslta.site-ym.com/page/FilesandDocs

 

Tags:  Land Records  NYS Dept Tax & Finance  Yonkers 

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Report to The Membership on Litigation

Posted By Robert Treuber, Sunday, July 8, 2018
Updated: Sunday, July 8, 2018

 

To NYSLTA Members –

 

As you may have seen in the New York Times, The NY Law Journal, Crain’s NY and The Real Deal, on July 5, 2018, Judge Eileen Rakower in New York County Supreme Court ruled in favor of the NYSLTA, Venture Title and Great American Title Agency by declaring NYDFS Regulation 208 annulled in its entirety.

 

The following day, the DFS filed an appeal with the Appellate Division.

 

The judge’s ruling and the DFS appeal can be viewed online, here: https://bit.ly/2KO7u8T

 

There is a natural exuberance at our victory in Supreme Court and a sense of vindication. These emotions are to be enjoyed but tempered with an understanding of the “big picture” and the realization that this matter is not yet settled.

 

First, act professionally.
When this is all behind us, there will still be a DFS and we will still be a regulated industry. Heed the advice of Ron Burgundy and “stay classy”. This is not a time for grandstanding and chest-thumping.

 

Second, be mindful of everything we have learned about DFS in this process.
We can assume greater scrutiny, an expanded market conduct investigation and efforts to provide evidence for the DFS claims of deceptive practices. Don’t give your adversary the rope she will use to hang you.

 

The “safe harbor” is to operate one’s business conservatively.  Are your disclosures in order? Are you fully in compliance with Regulation 206? Does your cybersecurity program meet all requirements of the regulation?

 

Third, silence is golden.
Resist the lure of a request for comment from a reporter “on a tight deadline”. If you have seen some of the news stories, you can see how innocuous statements can appear disparaging to the entire industry.

 

As we learn more about the implications of the DFS appeal, more information will be forthcoming to Members. Town Halls are being planned for Westchester and Long Island. Details to follow.

 

The Underwriters and the Agent Members have funded a significant victory for the title industry. A handful of people have dedicated hundreds of hours to prosecuting this case for the benefit of everyone.

 

Thank you for your support.

 

Thank you for being the New York State Land Title Association.

 

 

 

 

Tags:  Article 78  DFS  litigation  Reg 208  Regulations 

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Article 78 Update

Posted By Robert Treuber, Monday, June 18, 2018
On June 14, 2018, Judge Rakower granted the request for a stay on the filing of a premium rate reduction, per Regulation 208.

Please see the attached document.

 Attached Files:

Tags:  Article 78  DFS  Reg 208  Regulations 

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Article 78 Litigation – Key Dates

Posted By Robert Treuber, Monday, April 23, 2018
Updated: Monday, April 23, 2018

 

Article 78 Litigation – Key Dates

 

Originally filed on February 20th, our litigation to oppose DFS regulation 208 is reaching a critical juncture.

 

On April 13th the Attorney General’s Office, as attorney for DFS, filed their response to our petition.

 

At this time, our legal counsel Gibson Dunn Crutcher is preparing our reply to the DFS.  The reply document will consist of only two dozen pages. It will be filed on May 1st with the Supreme Court of New York, county of New York.

 

The judge, Hon. Eileen A. Rakower, will hear oral arguments on May 8th.

 

What happens next is not certain.

 

Judge Rakower may issue her ruling from the bench on May 8th or she may decide to issue a written decision at a later date of her choosing.

 

The Officers have been working closely with our legal counsel to inform their filing with technical information about the title industry and the history of our relationship with the DFS and the Insurance Department.

 

While this matter makes its way through the court, the Association continues to lobby our legislators for support of bills which will correct many of the problems created by the DFS and their regulation 208.

 

Whatever the outcome of the litigation, the title industry needs to pass the Seward-Cahill bill (S6704/A8467) and the Golden-Abbate bill (S7901/A10207) to establish limits on the DFS and to protect homebuyers.

 

All title professionals, Members and non-members, are urged to attend Lobby Day in Albany on May 15th and to respond to the Title Action Network Alerts.

 

(If you want more background on this, look at the previous Newsblog item titled “The Long Game”, posted on April 12, 2018)

 

 

Tags:  Article 78  DFS  EC  litigation  lobbying  Reg 208  Regulations 

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The Long Game

Posted By Robert Treuber, Thursday, April 12, 2018
Updated: Thursday, April 12, 2018

 

The current issue of City and State Magazine is dedicated to the topic of insurance.  You can read it online here - https://issuu.com/cityandstate/docs/csny_04092018_version .

 

This edition contains interviews with the Chairmen of the Insurance Committees in the State Senate and the Assembly, Senator Seward and Assembly Member Cahill.  Both of these gentlemen answer a question on title insurance on page 21 and I encourage you to read their comments. (I also suggest you take a look at the NYSLTA ad on page 23.)

 

For several months, NYSLTA Members and other concerned citizens have activity communicated with our legislators to repair DFS regulations that threaten our livelihood, disrupt the real estate finance marketplace and create new costs and complications for consumers, lenders and attorneys.

 

At times, it may appear our efforts are fruitless. I admit the investment is great and to date the returns have been slim. For perspective, I ask you to look closely at Chairman Cahill's reply to the title insurance question.

 

" Last year, the Assembly Insurance Committee held a hearing on the impact the new regulations are having or would have. The testimony and evidence from stakeholders and consumer advocates was compelling.

 

Since then, even more colleagues have approached me as chair of the Assembly’s Insurance Committee to discuss title insurance regulatory change.

 

In fact, more than any other single insurance topic, Assembly members from across the state have brought the concerns of their constituents regarding title insurance regulation to my attention.

 

While some would attribute the currency of the issue to heavy industry lobbying, it is clear, instead, that the disruption caused by regulatory overreach has impacted stakeholders in every phase of real estate transactions..."

 

This growing awareness and understanding of the problematic consequences of DFS regulation 208 is the result of YOUR phone calls, YOUR emails, YOUR person-to-person conversations with legislators and key staffers.

 

The process is slow but this is how we build a presence for the title insurance industry in the halls of government. One by one, one meeting at a time, with follow-up and repetition, with single-minded and consistent messaging - this is how we counter the misinformation and misunderstanding about the work we do and the financial product we provide.

 

Our work informing and educating the legislators and their staff does not end with Regulation 208. Next year and every year after that, we will function under the purview of the DFS.  Strong relationships in the legislature are our best means of counterbalancing onerous regulation.

 

If you have sent an email or made a phone call to your Senator or Assembly Member - thank you and now take the next step and meet with them in person.  If you have lobbied in the district office or in Albany - you are a champion, and we need you to bring along others as we continue the effort.

 

 

 


 

Tags:  DFS  engagement  lobbying  NY Senate  NYS Assembly  Reg 208  Regulations 

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