ALTA Advocacy Summit Attendees Set to Converge on Capitol Hill

May 2, 2017

Nearly 250 title professionals from across the country will meet with members of Congress and their staff on Wednesday to help advance the industry’s interests during the 2017 ALTA Advocacy Summit in Washington, D.C.

“With so much going on, the importance of ALTA members being in D.C. this week can't be understated,” said Michelle Korsmo, ALTA’s chief executive officer. “Our members' involvement in the policy making process help us not only protect but also strengthen the industry's future.”

While on Capitol Hill, the main asks will focus on:

  • telling Congress that consumers deserve accurate information about their title insurance costs. . We will ask Congress to require the CFPB to fix the TRID forms by allowing for the accurate disclosure of title premiums. We will also discuss the need for the CFPB to publish more formal guidance on its rules and provide official interpretations to help businesses make informed decisions.
  • sharing information that any tax reform should make it easier to comply with the U.S. tax code andincentivize growth and investment. With all the moving parts on tax reform, we want to encourage lawmakers to incentivize strong investment in American real estate (13.1% of our economy). Specifically, we will be discussing the deductibility of business and mortgage interest and 1031 like-kind exchanges.
  • reminding Congress that as it works to reform theGSEs, it should recognize that without lien priority to secure debt, mortgage lenders and investors have no recourse to the collateral. Title insurance is the only type of risk transfer that protects the priority of lienholders.

“The ALTA Advocacy Summit is our moment to exercise our political rights and use a collective voice to strengthen the industry and focus on its purpose—protecting property rights,” said Dan Mennenoh ITP, NTP, ALTA’s president. “ALTA members are the heart and soul of our advocacy efforts. Whether you’re a state leader, first-time attendee or you’ve attended 20 events in the past, the Summit is the cornerstone of the title industry’s advocacy efforts where we leave a legacy of contributions for future generations.”

Title professionals not attending the Advocacy Summit are encouraged to contribute to the effectiveness of this advocacy. On Wednesday, the Title Action Network (TAN) will ask its members to take part in our virtual lobby day. The goal is to amplify our reach and message by having TAN members echo the points that we will be discussing on Capitol Hill. Use #wetheprotectors to follow all the action this week in Washington on Twitter and Facebook .

On Tuesday, Advocacy Summit attendees heard from two panel discussions moderated by Korsmo. During the first session titled “Capitol Hill Insider: Think You Could Be a Member of Congress?,” U.S. Reps. Denny Heck (D-Wash.) and Dave Trott (R-Mich.) participated in a spirited discussion and provided an inside view of the environment in Washington, D.C. The two legislators–who are both members of the House Financial Services Committee–discussed how Congress can come together on important issues when the cameras are off and offer perspectives, not the partisanship, on regulatory and housing reform.

In addition, Trott—who was a former title agency owner and employee of a national underwrite—offered insight into what he’s learned since taking office in 2015 and shared advice on what title professionals can do to help their advocacy efforts.

During the second panel titled, “Industry Insights: Can You Evolve and Thrive Like Amazon?,” leaders from other industries shared how their industries have evolved to meet ever-increasing regulatory and consumer demands. The speakers provided lessons learned and best practices about how to respond to new competitive factors in your own business.

Panelists included:

  • Mark Birschbach, Second City Ventures/NAReach
  • Francis Creighton, Consumer Data Industry Association
  • Stacey Hutchinson, Chamber Technology Engagement Center at the U.S. Chamber of Commerce


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

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.