The real estate and mortgage finance industries continue to be under intense scrutiny. From the Consumer Financial Protection Bureau (CFPB) to state regulators, business practices are being examined. This is why active participation is needed in the Title Action Network (TAN), the title industry’s grassroots organization. Launched in 2012, TAN promotes the value of the land title industry at the state and federal level. Over the past two years, TAN members have sent more than 4,400 communications to 380 policymakers in response to the network’s calls to action. Members have weighed in on the CFPB, RESPA/TILA reform, mortgage interest deduction, GSE reform, flood insurance and many other topics.
On the national front, TAN members have been crucial in building support for a bill that would create an advisory board for small businesses at the CFPB. Because of alerts sent by TAN members to their representatives, this important bill now has 37 co-sponsors in the House of Representatives.
TAN members have been just as active and successful at the state level as well. State victories are just as important. In my home state of Minnesota, our governor had proposed a budget that would have created an additional sales tax on real estate services. This would have included closing services and other professional services provided by the land title industry, as well as brokers’ commissions and appraisal services. In conjunction with the Minnesota Land Title Association, TAN members convinced the governor to drop his pursuit of taxes on most additional services, including real estate service taxes.
Earlier this year, our colleagues in Michigan partnered with the state land title association to drum up support for legislation to address recording issues. Most recently, members in New York worked with the New York State Land Title Association to convince legislators to pass an agent licensing bill. Meanwhile, members in Colorado used TAN to encourage regulators to hit the pause button on amending industry regulations.
As you can see, TAN is an essential piece in ALTA’s advocacy efforts to connect title professionals with members of Congress. The ability to systematize and fuse participation on federal and state issues makes TAN an effective tool for everyone involved. Through August, TAN had more than 8,000 members. We are pushing to eclipse 10,000 by the 2014 Annual Convention.
Now more than ever, it is critical to showcase a cohesive and energized voice when advocating for the value of the land title industry. Joining TAN is simple. Please go to www.titleactionnetwork.com to enroll. Membership is free. The more people involved, the stronger our voice. What’s holding you back? Get involved today!