First National Title Insurance (FNTI) is proud to announce the newest title agent to join our family of agents, Town Square Title! Based out of Waxahachie and with over 200 years of combined expertise in the title business, their knowledgeable team is prepared to accomplish your needs. If you need a full title examination under a P-24 agreement or to refer a deal when it’s out of your area to one of their four offices within Ellis or Johnson counties, please contact them at:
Sewell Title threw it’s annual Holiday Party in Fort Worth, Texas, combining its three offices across Fort Worth and Weatherford. The event was a time for this “work family” to get together for some cheer and laughter, and FNTI was thrilled to be included in the festivities. Below are photos of Chris Phillips, George Stablein and Suzanne Tinsley along with the Sewell Title staff members. Hal Sewell, owner, said it has been a great year for the company, and we are betting 2017 looks bright for the group as well. Happy Holidays!
Below is an excerpt of a recent article regarding the recent nationwide injunction affecting employers across the country issued by U.S. District Judge Amos L. Mazzant.
“Texas Judge Issues Nationwide Injunction Against Obama’s Overtime Rule”
A federal judge in Texas has issued a nationwide injunction blocking the Department of Labor’s rule requiring overtime pay for more than 4 million new workers.
In a 20-page decision (see below), U.S. District Judge Amos L. Mazzant ruled that 21 states and more than 50 business groups that sued to block the rule stood a significant chance of success and would suffer serious financial harm if the rule was put into effect as scheduled on Dec. 1. The judge found it likely the Obama administration overstepped its authority by raising the salary cap below which all workers must receive overtime pay from $455 a week to $921 a week or $47,892 a year.
The administration argued it was merely updating the rule to keep up “with our modern economy.” But the judge said the increase to the 40th percentile of all weekly earnings in the U.S. effectively eliminated the exception in labor law for “bona fide executive, administrative or professional” employees. The Labor Dept. must examine the duties of employees to determine who fits the exception, the judge said. But by raising the cap so high, he said, “the Department exceeds it delegated authority and ignores Congress’s intent by raising the minimum salary level such that it supplants the duties test.”
The injunction halts enforcement of the rule until the government can win a countermanding order from an appeals court. (See further analysis of this scenario here.) Given Texas is in the conservative Fifth Circuit, that could be a challenge. In the meantime, retailers who would be particularly hard-hit by the rule celebrated.
“The rules are just plain bad public policy, and we are pleased that the judge is allowing time for the case to go forward before they can go into effect,” said David French, vice president for government relations at the National Retail Federation, in a statement. “We hope the judge ultimately finds in our favor, and in the meantime this timeout gives Congress a chance to take another look at the impact of these rules.”
The judge rejected the government’s plea to hold off on an injunction, saying the states would suffer immediate harm as they were forced between raising the salaries of thousands of managerial employees or cutting back on services and work hours. The rule can await a trial on the merits, he said.
Read the entire article and 20 page decision:
First National Title Insurance Company (FNTI) has been recognized as one of the area’s top 100 entrepreneurial success stories and named to the Dallas 100 by the Caruth Institute for Entrepreneurship and the SMU Cox School of Business. At the annual awards ceremony held November 29, the FNTI team gathered to hear the rankings for this year. We were pleased to be ranked No. 25 out of the outstanding group of companies nominated for this prestigious award. These 100 companies were selected from the Dallas area and all of them are privately held entrepreneurial endeavors. If their financial statements were combined, these Dallas 100 companies would produce revenues of $2.9 billion.
FNTI is honored to be included with this fine group of like-minded companies. Their entrepreneurial spirit is what drives the Dallas-area market. There is a wide diversity among this group—ranging from medical/health, financial services, software development, IT/logistics to custom homebuilders, real estate firms, golf club management companies and craft brewers with a couple of entrepreneurial title companies in between.
As I have stated in the past, the only reason we qualify for this award is due to the support we receive from our agents, and the trust they place in our team—every day. Our growth is attributed to the success of the hard-working title agents issuing FNTI policies. In order to reach this level of success, we must continue to support you and provide you with the incentives to issue policies on First National Title Insurance.
Thank you for giving us this opportunity to reach No. 25 of the Dallas 100.
FNTI was a proud sponsor of this year’s Cara Young Fish For Life – Garden Party at the Fort Worth Botanic Gardens. This organization supports children and their families while undergoing treatment for cystic fibrosis. Through its two events, a fishing tournament and the Garden Party, it raised over $31,000.
The presentation of this year’s check to Cook Children’s Hospital.
Suzanne Tinsley joins other volunteers to set up the Garden Party event.
George Stablein, NolaAnn Waggoner and Suzanne Tinsley attended Capital Title’s new Spring Office location Grand Opening event. The guests enjoyed live music, a photo booth and great fun with local industry professionals.
Suzanne Tinsley and the folks from Title One and Family Title in Lubbock enjoyed a friendly rivalry at the Texas Tech versus University of Texas game. The group hosted a tailgate event before heading in to cheer on their favorite team.
It’s that time of year when you eat too much, see relatives, avoid relatives, and give thanks to all the things worth giving thanks to—Thanksgiving.
As it relates to FNTI, all the things I’m thankful for stem from one source—You, Our Agents.
Because of you, I’m thankful for:
- The ability to add new teammates to our FNTI family in the form of Jamie Barker, Jay Hansli, Heather Stubbs, and Melinda Wirta, who have been invaluable right from the start.
- Adding so many new agents that we are approaching 100 agents on our roster.
- To be almost (or maybe already) one of the ten largest underwriters in the US.
- To be able to provide nearly 2,500 hour of continuing education to our agents this year through webinars and on-demand seminars.
- To provide classes to Realtors on behalf of our agents, which led to nearly $15,000 donated to our FNTI Super Lady, Ansley Jones.
- To hit the ground running in Florida with a few new states in our crosshairs.
- To meet financial goals beyond our wildest dreams.
For all of this, I say to you, “THANK YOU!!”
Q: May we pay the property taxes in Texas for 2016 and insure that 2017 taxes are “not yet due and payable”?
A: Short Answer is “no”. Please read on as Procedural Rule P-20.C.1 found in the Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas contains the phrase “for the year of the issuance of the Loan Policy or Interim Binder” therefore the “no” answer applies to all transactions closing in 2016 with the date of the policy also being in 2016. However, if the transaction is closing the last of December and the documents will be recorded in January and thus the policy will reflect a date of January 2017, the Schedule B exception may be issued to show that 2017 taxes are “not yet due and payable” if the 2016 taxes are collected and paid at closing.
The pertinent part of Procedural Rule P-20 reads as follows:
- TAXES NOT YET DUE AND PAYABLE
In connection with the issuance of a Loan Policy or Loan Title Policy on Interim Construction Loan (Interim Binder), upon payment of the premium in
R-24, a Company may:
- If satisfied that all taxes, standby fees and assessments by any taxing authority for the year of the issuance of the Loan Policy or Interim Binder are not yet due and payable, add the following after the standard tax exception: “Company insures that standby fees, taxes and assessments by any taxing authority for the year _____ are not yet due and payable.” The addition may be made either by checking the appropriate box on a Form T-2 or by otherwise inserting the additional words into the form.
As a reminder, if the “not yet due and payable” coverage cannot be issued, the $5 premium (Rate Rule R-24) may not be collected. You may review the entirety of P-20 which is the “Standard Exception Relating to Taxes” procedural rule here: http://www.tdi.texas.gov/title/titlem4c.html#p20. Enjoy the last few weeks of 2016.
Ladies and Gentlemen of this great country, tomorrow is Election Day. As I think about being an American, I am reminded of Lee Greenwood’s song, “Proud to be an American, where at least I know I’m free…” you know it—we all do. If we neglect to vote, our freedoms are left in the hands of others, and as a little bit of a control freak, that does not sit well with me. We are given an opportunity to have a say in which candidate we feel will do the best job for our country. Do not waste your opportunity tomorrow.
I recently attended the 2016 ALTA Conference in Phoenix, Arizona. The headline for the event was called “ALTA ONE, Out of Many, One.” ALTA showcased a book called, The One Thing, written by Gary Keller, the founder of Keller Williams Realty, Inc. In short, the book talks about all the things that steal our time in this crazy business world and how to get the results we want when growing a business. If we chase all the things that distract us, we will never catch any of them; but if we narrow our focus to one thing, the RESULTS are astonishing! What is the one thing we all need to consider in making results-driven decisions? That is up to each one of us to provide to our own individual equations.
Tomorrow, on Election Day, “…Out of Many, One” will be elected to do the job. It is your right and privilege to decide which One is the right one for us. Do not waste your time on distractions and use this opportunity we have to contribute to our country’s future.