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Volume 105, 
December 2014



Will Housing Survive or Thrive? Three Big Predictions for Mortgage Lending Next Year
excerpted from Housing Wire 12/19/14

Housing survived 2014, and now heading into next year, experts are once again weighing in on what they see for the future of the housing industry and overall economy.  Ghazale Johnston, a managing director with Accenture Credit Services, outlined in an interview with HousingWire three topics she believes will take precedence in 2015. Here are her predictions for mortgage lending in 2015.


1. Regulations:

Some lenders may be under the impression that the regulatory scene will quiet down somewhat in 2015. But that doesn't look likely. Lenders will need to be prepared for the CFPB's proposed HMDA rules which will place an even greater emphasis on monitoring of predatory lending and consumers' access to credit.   

2. Flat mortgage market:

With origination volume unlikely to spike markedly in 2015, according to projections, lenders will need a sales capture strategy that focuses on taking market share away from competitors. In short, lenders will be fighting for fewer customers.    

3. Data analytics:

To broaden their customer base next year, some lenders may ramp up non-qualified mortgage lending and go back to originating mortgages with as low as three percent down payments per the FHFA's new guidelines. To take advantage of these opportunities however, lenders will need to strengthen their data and analytics solutions to ensure that the expansion of new originations does not introduce unnecessary credit and repurchase risks.  (Read complete article.)  



News from PREP Chapters


In every edition of the PREP Newsletter, we highlight at least one PREP Chapter and post an abbreviated version of their most recent Chapter Meeting minutes.  You can also see what any of the PREP Chapters are talking about by going to PRIA's PREP Chapters webpage.  


Co-Chairs:  Government, Juan Sarti at and Business, Kathy Taylor at


The Colorado PREP Chapter held a meeting on November 20, 2014.  The primary presentation was about "Prosecution of Real Estate Fraud", given by Erika Reuer and Steve Fauver from the 18th Judicial District Attorney's Office Economic Crime Unit. They gave an informative overview of the Unit - what they do, how cases get opened, the assessment process, and the types of cases they prosecute. The overview was followed by an in depth description of two real estate fraud cases they've prosecuted. The meeting also included updates on pending legislation and discussion regarding the election of a new Business Co-chair for this PREP Chapter by the end of 2014. (To see the complete minutes for this Chapter's meeting, go to PRIA's PREP webpage.)   




We're looking forward to two new Chapters being added to the PREP Chapter family in 2015.  One Chapter will be in Idaho, and the other one in Virginia.  So stay tuned for locations, co-chair selections and relevant topics that these Chapters will focus on.  Contact PRIA's PREP Coordinator anytime to find out when these and other PREP Chapter meetings will be held.  


PRIA Announces Approval of Redaction Best Practices Paper

The Board of Directors of the Property Records Industry Association (PRIA) has given final approval to the Redaction Best Practices paper produced by the Records Access & Privacy Policy Committee.

According to PRIA President Mark Ladd, "Amid continuing concerns and challenges balancing the public's access to information with an individual's right to privacy, PRIA's Records Access & Privacy Policy Committee consulted and collaborated with industry partners and stakeholders to produce these best practices."

Industry partners and stakeholders include recorders´┐Ż nationwide, as the legislated custodians providing access to the land records, and those dependent on the accuracy and availability of these records, including title insurance underwriters, title searchers, lenders, recording software vendors and redaction software vendors.

These best practices address the availability of information about individuals contained in land records maintained by recorders, and the technical solutions of redaction. Land records by definition are public records, and in many jurisdictions, there are few restrictions on the release of public records. This paper sets forth redaction best practices for policymakers and recorders. The paper is intended as a resource tool for legislators prior to proposing legislation and for recorders as they begin to address redaction. (Read PRIA's press release.)




Save These Dates!  February 17-20, 2015

Mark your calendar for February 17-20, 2015, and plan to join PRIA members and guests at the Crystal City Marriott in Arlington, Va., for a three-day conference that will highlight pressing issues, and provide opportunities for networking with other land records professionals. 


The format for this conference will include a combination of general sessions on topics for recorders and businesses, with work group meetings where attendees can roll up their sleeves and contribute to the standards and best practices under development by PRIA.


A sampling of the general sessions:  

  • Flat-Rate Recording Fees - which states have them?  Who wants them?
  • New Technologies and Implications for Recorders
  • Why Recorders Love Their Submitters
  • Industry Pearls - "Hit Me with your Best Shot"

And, let's not forget the 2015 edition of the PRIA Game Show - a light-hearted approach to understanding significant industry issues.


These are just a few of the sessions in which you can participate during the 2015 Winter Symposium.   


This year's traditional industry tour will be to the National Archives, home of the original Declaration of Independence, Constitution and Bill of Rights.  There is an additional $15 fee to cover the cost of transportation and entry into the guided tour.


Not a PRIA member yet?  JOIN NOW for a reduced membership fee AND a $100 discount on Symposium registration fees.


Registration materials are available on the PRIA website.  Hotel reservations can be made online, or by calling 703.413.5500. The PRIA room rate is $209, plus applicable taxes.


Be sure to check out the companies already committed to sponsoring an event or session at the Winter Symposium.


Questions? Call PRIA Headquarters at 919.459.2081 or Email:


Schedule of Events:  For the most recent Schedule of Events, click here.  This schedule will be updated between now and the Winter Symposium as new program details are confirmed.
PRIA's Business Requirements Work Group Executive Summary

As reported in the November issue of PRIA's In Touch Newsletter, the PRIA Board of Directors has approved a new work project which will establish Best Practices for Land Records Management Systems (LRMS). The Business Requirements Work Group held its first meeting the result of which is an Executive Summary outlining the scope of this project.


"Land Records Management Systems provide one of the mission critical connections between the government and the business sectors in the property records industry. These software products provide solutions to many of the technical, regulatory, and statutory hurdles that recording jurisdictions face in the United States. Land Records Management Systems (LRMS) are vital for recording jurisdictions to operate efficiently and effectively.


This Property Records Industry Association (PRIA) work product will provide a comprehensive set of best practices for the business sector to consider when developing or implementing LRMS products. This work product also will provide government sector users of LRMS products with information to evaluate and make informed decisions about LRMS solutions


Past PRIA work products have addressed a variety of topics on property record processes including bulk records access, notary public pratices, records preservation, indexing, redaction and URPERA, as well as those specific to eRecording. This LRMS project attempts to bring together components of previous PRIA work products with focus on how LRMS solutions support the property records industry. Background information and some history about LRMS applications are included."


Housing in 2015: Consumers Upbeat, But Recovery Faces a Tricky Handoff
excerpted from Forbes 12/3/14 


Consumers think 2015 will be a better year than 2014, especially for selling a home. But the recovery will slow as the rebound effect fades before fundamentals become strong. Key markets to watch are in the Northeast, South, and West.


What does 2015 have in store for the housing market? Nine years after the housing bubble peaked and three years after home prices bottomed, the boom and bust still cast a long shadow. None of the five measures we track in our Housing Barometer is back to normal yet, though three are getting close. The rebound effect drove the recovery after the bust, but is now fading. Prices are no longer significantly undervalued and investor demand is falling.  


Ideally, strong economic and demographic fundamentals like job growth and household formation would take up the slack. But the virtuous cycle of gains in jobs and housing is relatively weak, and that will slow the recovery in 2015. All the same, consumers are optimistic, according to our survey of 2,008 American adults conducted November 6-10, 2014. (Read complete article.) 


ALTA NEWS:  Register Now for RESPA-TILA Implementation Forums        

excerpted from the December 22, 2014 ALTA Advocacy Update by Michelle Korsmo, ALTA CEO 


"We are excited to kick off the first in a series of forums ALTA is hosting along with the MBA on the new RESPA-TILA closing requirements. These forums are designed to help you prepare for the Aug. 1, 2015, implementation date of the CFPB's new Loan Estimate and Closing Disclosure. At each forum, a panel of legal, title, technology and operation experts will review the rule and offer guidance to help prepare you for the implementation deadline. These one-day sessions will provide up-to-date information on how title and settlement agents, attorneys, lenders and software providers are navigating the new RESPA-TILA requirements. I hope you can join us for a day to learn more about these new requirements and to network with lenders from across the country!

As a reminder, the forums will be held at locations across the country, including:

  • Los Angeles, Thursday, Jan. 29
  • Miami, Tuesday, Feb. 17
  • Dallas, Thursday, March 5
  • Chicago, Thursday, March 29
  • Washington, D.C., Thursday, April 16
Space is limited, so please register today to ensure you get a spot at one of these informative sessions! For questions about the RESPA-TILA Integration Forum programs, please contact ALTA's legislative and regulatory counsel, Steve Gottheim, at or 202-261-2943."


Links to National News

Forbes | December 18, 2014
It's been an odd year for the housing market. It kicked off with the "Polar Vortex," blamed for slowing home sales in the early part of the year. As 2014 draws to a close, the National Association of Realtors expects sales of previously owned homes to fall short of 2013's total, while the latest monthly data on new homes show sales were up just 1.8% in October from a year earlier. Meanwhile, price gains for previously owned homes have slowed significantly. Still, builder confidence in the market for newly constructed, single-family homes has been high for six straight months.

America's Housing Market Value Soars to $27.5 Trillion
Business Insider | December 19, 2014
The value of all homes in the US increased by $1.7 trillion in 2014 to $27.5 trillion, according to Zillow.

Report: GSEs Have Completed 3.3 Million Foreclosure Prevention Actions Since 08
DS News | December 22, 2014
Including the 72,700 foreclosure prevention actions completed by the GSEs in the third quarter, Fannie Mae and Freddie Mac have performed about 3.3 million such actions since the start of the conservatorship under FHFA in September 2008, according to the Federal Housing Finance Agency (FHFA)'s Q3 Foreclosure Prevention Report released Monday.

DS News | December 23, 2014
Colorado Attorney General John Suthers announced his office has filed civil lawsuits against two Colorado foreclosure law firms and their affiliated title companies, accusing them of inflating foreclosure costs for homeowners.

Advertise in all of PRIA's Newsletters for One Bundled Rate

Consider advertising in the two PRIA publications, In Touch and PREP's "Working Together" Newsletter. In Touch is produced and distributed 12 times each year, while PREPs "Working Together" is distributed 24 times a year.  It's a lot of exposure with a wide audience, now up to 13,000 readers, for just a few dollars. To claim your space click here
Join the PREP Blog and the PREP LinkedIn Group


On most business days, we post national news articles, and PRIA and PREP Chapter information on the PREP Blog and the PRIA/PREP LinkedIn Group. You are able to stay in touch by subscribing to both sites and automatically receiving updates daily or weekly. 


The views and opinions expressed in the media, articles, comments, or links in this publication are those of the speakers or authors and do not necessarily reflect or represent the views and opinions held by the Property Records Industry Association (PRIA) or its members.  PRIA does not warrant the accuracy, timeliness or completeness of the information contained in this publication. If you have a complaint about something you have found in this publication, please contact PRIA by email at
This publication may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. PRIA believes this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material in this publication is distributed without profit, to those who have expressed a prior interest in such information, for comment and nonprofit educational purposes.
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In This Issue
Will Housing Survive? Three Big Predictions for Mortgage Lending Next Year
News from PREP Chapters - Colorado
PRIA Announces Approval of Redaction Best Practices Paper
Save These Dates for PRIA's Winter Symposium
PRIA's Business Requirements Work Group Executive Summary
Housing in 2015
Links to National News
Advertise in PRIA's Newsletters
PREP Blog and PREP LinkedIn
Examples of PRIA's Products 
PREP Chapter Meetings
  January -  April 2015    

      Central Florida


      Metro Minnesota 

      SE Minnesota

      Idaho (new)


      Virginia (new) 



Contact Information

Do you have questions or suggestions for this newsletter or any updated information on co-chairs, emails, phone numbers, etc. please contact us:
Carolyn Ableman
PREP Coordinator

Mark Monacelli
PREP Committee Government Co-Chair, Recorder
St Louis County, Minnesota

Madeleine Nagy

PREP Committee Business

Co-Chair, ALTA

State Government Affairs


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