As we reported in August, the Board of Directors of the Texas Title Insurance Guaranty Association (TTIGA) voted to decrease the policy guaranty fee from $5.00 to $2.00 effective January 1, 2012. The Guaranty Fee will be $2.00 for each owner title policy and $2.00 for each mortgagee (loan) title policy collected during the applicable quarter. Please make the appropriate changes to your closing/collection procedures to change to the new fee as of January 1, 2012.
TTIGA will mail or email you a new form for your use in submitting the fee in March. The new fee will be due with this new form on or before May 1, 2012. The new form will also be posted on the TTIGA website.
TTIGA asks that you use the current form for the fourth quarter of this year (2011), which is due on or before February 1, 2012, and will cover October 1, 2011, through December 31, 2011. The forms on the website are updated each quarter to default to the current collection dates, and the forms will reflect the changed rate.
For more information, visit the TTIGA website