Patrick Lee

The General Session agenda included standard opening procedures, the adoption of minutes from the previous meeting, and concurrence reports on licenses, penalties involving Nations Title Insurance Agency of Utah Inc. and Sam, Reynolds, & Van Oostendorp PC, and continuing education matters. Key discussion points involved an update on 2025 goals, including reports from the ULTA liaison, and defining 2026 goals. Department topics were reviewed, and new business included a report on Presidential Title v. Pike and a FinCEN update. Old business addressed the construction money rule and an email from Target River.

The General Session agenda for the meeting included the adoption of previous meeting minutes, concurrence reports covering licenses, penalties for Nations Title Insurance Agency of Utah Inc. and Sam, Reynolds, & Van Oostendorp PC, and continuing education matters. Key updates involved 2025 goals, including reports from the ULTA, and discussions regarding 2026 goals. Department topics, new business items such as a report on Presidential Title v. Pike and a FinCEN update, and old business concerning the construction money rule were also scheduled.

The meeting included discussions on the ULTA report, updates on 2025 goals, and department topics such as verifying new hires. New business included updates on the construction money rule and striking the affiliation restriction from R592-6. The commission also discussed charging fees to prepare payoff information and introduced a new title insurance regulator. Concerns were raised about the producer test containing outdated questions.

The meeting included swearing in a new board member, followed by updates on ULTA report, marketing questions, annual board member training on the Open and Public Meetings Act, and a proposal to repeal rule R592-1. A request was made for a rule to require title licensees to disclose an ABA relationship to a consumer. Discussions also covered the construction money rule and a subcommittee report on amending capitalization requirements, along with reports on hiring a title insurance regulator and recommendations for Insurance Amendments bill.

The Title & Escrow Commission meeting included updates on 2025 goals, such as the ULTA report focusing on anti-money laundering. Marketing questions were addressed, with final determinations posted online. The annual report highlighted a busy year with investigations, improvements in annual report payments, and the use of private letters of admonition. Proposed legislative changes for 2026 were discussed, including clarifying statutes, requiring wire fraud reporting, and establishing wind-down plans for title agencies. A contradiction between R592-1 and 31A-2-404(1)(c)(ii) was identified, with plans to repeal R592-1. The requirement for a physical office was discussed, along with the Title Insurance Recovery and Education Fund assessment deadline. The possibility of a joint meeting with the Real Estate Commission was postponed, and the status of the construction money rule and capitalization subcommittee were reviewed.