Fed Conference Attendees Ready to Influence Change

May 17, 2016

2016 Federal Conference & Lobby Day | May 16-18 | Washington, D.C.

More than 250 ALTA members are participating in ALTA’s 2016 Federal Conference and Lobby Day in Washington, D.C., this week. In addition to meeting with members of Congress and their staff during Lobby Day, two panels that delved into how businesses are adapting to deliver innovative products and services.

During the Tuesday, May 17 general session "Revolutions in Campaign Strategy," political strategists discussed the technologies they employ to influence elections in your hometown and across the country. Moderating the discussion was ALTA President John Hollenbeck NTP. Participating on the panel were Michael Meyers, TargetPoint Consulting; Alex Lundry, Deep Roots Analytics; and Brendon DelToro, iHeart Radio.

“Technology has changed more than how we communicate, make purchases and run businesses. It's also changed how elections are won and lost,” Hollenbeck said. “Political campaigns have embraced technology to gain a competitive advantage. Today, efficient campaigns are capable of micro-targeting single households and individual voters. Technology and TRID has disrupted and changed how the title and settlement industry works and shares information. Innovative companies will develop new processes to meet evolving market needs.”

Following that discussion, ALTA Chief Executive Officer Michelle Korsmo moderated a discussion of CEOs from other trade associations that delved into how their industries have evolved to meet ever-increasing regulatory and consumer demands. Joining Korsmo on stage were Rob Nichols, American Bankers Association; David Chavern, Newspaper Association of America; and Leigh Ann Pusey, American Insurance Association.

“ALTA leadership always is thinking about what we can do to help members re-think their intuition and better prepare our members for business challenges ahead,” Korsmo said. “We hope attendees learned lessons from other industries and take home best practices to respond to new competitive factors in the title industry.”

On Wednesday, May 18, attention will turn to Capitol Hill as attendees will meet with members of Congress and staff. Participants will take time to explain the important role the industry plays providing peace of mind to homebuyers by protecting their property rights.

The main priority will be to inform Congress that the TILA-RESPA Integrated Disclosure (TRID) rule  requires consumers in over half of the United States to receive inaccurate information about their title insurance costs on the new disclosures. Attendees will tell members of Congress that the CFPB should provide additional guidance to the regulation and correct the faulty disclosure of title insurance fees when policies are issued simultaneously.

“The current disclosure calculation is inconsistent with the Bureau’s mission to inform consumers about the true costs of their real estate transaction,” Korsmo said.

Contact ALTA at 202-296-3671 or communications@alta.org.