Welcome to the Pennsylvania Land Title Association
Join us for the Pennsylvania Land Title Association’s
94th Annual Convention
PLTA President’s Update – March 2015
As frigid February and hopefully the last of winter precipitation are behind us, we look forward to March being a marvelous month! Temperatures should start to gradually warm, daylight savings time begins, and, at last, the first day of spring! Spring is a time of change and new beginnings.
With our industry facing some significant changes due to the new Loan Estimate and Closing Disclosure which go into effect August 1, 2015, we had over 250 attendees at the Mid-Year Meeting on January 15 at the Crowne Plaza Hotel. Our Education Committee delivered a program titled Together Towards Tomorrow which highlighted the new delivery requirements and the collaborative efforts with lenders which will be essential to our future business practices. The Mid-Year Meeting also provided an opportunity for the various PLTA Committees to report on their activity and I am pleased to say that as a result, several attendees have stepped forward to join a committee. This was also a time to acknowledge Shonna Cardello in achieving the Certified Land Title Professional designation. The PLTA is grateful for her service and commitment to the industry.
Our Convention Committee also ‘rolled the dice’ with the release of a Monopoly themed convention to be held May 31 through June 2 at the Omni Bedford Springs Resort and Spa located in Bedford, PA. The convention provides an opportunity to join your colleagues, industry leaders and vendors to learn of current title issues, your role in the changing marketplace and technology advances. There are plenty of opportunities for fun and relaxation along with the education. So Get Your Game On and register today at www.plta.org and reserve your hotel room from the Omni Bedford Springs Resort.
On the Legislative and Judicial front, the PLTA filed an Amicus Brief on February 6, 2015, in the US Court of Appeals for the Third Circuit concerning Montgomery County, Pennsylvania, Recorder of Deeds by and through Nancy J. Becker, in her official capacity as Recorder of Deeds of Montgomery County v. MERSCORP, Inc. and Mortgage Electronic Registration Systems, Inc. The District Court had held that for each transfer of a promissory note secured by a mortgage, the current record holder of the mortgage must prepare and execute an assignment of the mortgage and then record it with the Recorder of Deeds where the mortgaged property is located. The Brief, prepared by Fox Rothschild, sets forth our concerns with (1) the District Courts misinterpretation of Section 351 of the PA Recording Act; (2) the decision being problematic for lenders handling mortgage transactions in PA to be sold on the secondary market; (3) the decision ignoring well established principles to actions to quiet title in PA; and (4) the widespread negative implications for the title industry in Pennsylvania. We will keep you apprised of any further action in the case. [Click here to download the brief.]
The American Land Title Association will be hosting their Business Strategies in Philadelphia on March 18-20 and PLTA will be presenting a session entitled Fraud in the Real World. Our panel will consist of Len Shatz, Esq., CLTP, Laura Fox, Esq., CLTP, and Frank McGovern, Esq., CLTP along with Joan T. Decker, Commissioner of Records Philadelphia County. While the overall session describes the red flags to spot fraud and identifies steps to prevent fraud, Joan will provide experiences in her decade long effort to combat fraud in the City of Philadelphia. This will undoubtedly be another moment for PLTA to shine. For more details visit www.alta.org.
Be sure to check our website for information and educational offerings as well as contact information for the various committees. Changes have been happening on the site as well.
All the best for 2015!