TDI Temporarily Eases Requirements to Help Title Agents Cope With COVID

Escrow, Licensing, CE and Filings Included


March 26, 2020

Since the COVID-19 Crisis began, and based on the input we received from you about challenges you are facing, TLTA has been working with TDI to relax requirements in several key areas. Below you will find several important bulletins and announcements. As we receive additional guidance from TDI, we will keep you informed.
 
Escrow Requirements Modification Bulletin Issued
Last night TDI issued a Commissioner’s Bulletin that outlines several temporary escrow modifications that we hope will provide immediate relief to you. Please carefully read the full escrow requirements bulletin and also see the modified filings chart.  
 
Highlights include:
  • Single Escrow Officer signature allowed on checks, Internal Control #5 will not be enforced
  • Annual Escrow Audit Deadline extended 45 days and may submit electronically
  • Signatures on sworn statements may be electronic without sworn statement, affidavit or notarization
Additionally, TDI is actively reviewing the potential use of electronic signatures on checks, but no decision has been made yet. TLTA will continue working with the Department on that issue.
 
Licensing, Continuing Education Requirements Temporarily Relaxed
Earlier this week, Governor Greg Abbott approved waiving certain licensing requirements for insurance agents at the request of TDI. Please carefully read the full bulletin for all details as well as the license requirements and FAQs.
 
Highlights include:
  • March and April license renewals extended two months and late fees waived
  • More time allowed to complete CE credit and CE fines waived

Underwriter Financial Filings Modified Filing Chart
TDI also issued a bulletin this week and created a modified filings chart with some extended deadlines for underwriter financial filings in light of the COVID-19 outbreak. Please review carefully to determine what is applicable.
 
Visit TDI’s coronavirus resource page for past messages and guidance to the industry.
 
If you have comments, concerns or questions, please call us at 512.472.6593 or email tlta@tlta.com.