We are entering the 3rd quarter of 2004 and the time is flying fast. The Refinance boom may be over, but issues with the lenders’ requirements are not going away.
The amendment to the Franchise Tax Board Bill (AB1338) is progressing. The California Attorney General’s opinion in regards to the recordation of aMemorandum of Lease has eliminated our concerns when dealing with commercial transactions. The Domestic
Partnership Act will take effect the beginning of the year.
CEA has been kept busy during this last quarter with Assembly Bill 2474 which “Mandated” reporting of elder Abuse, the Senate Bill that is proposing Split Tax Rolls and the idea of the Franchise Tax Board to have the Escrow Holder do 1099s on brokers’ commissions.
The American Escrow Association Conference was well attended and Fran Butler was elected 2nd Vice President.Echo Media group is at work getting recognition for CEA Members and gathering information to implement a campaign to attract new members.Membership keeps growing; we have more members today than at the end of last year; please keep working to bring more new members before the year is over.We need to convey to all Escrow Practitioners that Escrow Departments will need to accept the fact that all intellectual information is now available electronically and that the information is vital for the processing of escrow; the information that can be accessed is likely to be almost limitless. CEA is creating a list of the many possible sources of electronic data and incorporating it into our Web site.
The evolution of technology is constant
and each new development requires education as well as a place to which we can go to obtain that information. As you know, when dealing with computers, we need to have knowledge and what better place than CEA when it comes to escrow. CEA is creating, enforcing and maintaining a network system for its members through the Web site; being a member of CEA has a value to the Escrow Practitioner that is more than intangible.
We need to maintain a strong association that keeps us all educated, in compliance and competitive; we need to continue to grow and provide good Customer Service; CEA can help us accomplish that through education. Let us not waste any time in helping the association grow.My year thus far has been a joy, keep up the good job.Sincerely, Margarita F Billings, CEO
2004 CEA President
