July 21, 2021

In This Issue:

  • RIN Authorization Expires Sept. 1
  • CORRECTION: Escrow Officer Ethics Hours Remain at Two
  • TDI Quarterly Audit Results Published
  • TREC Applications for Public Members of Real Estate Inspector and Educational Standards Advisory Committees Due Aug. 15
  • ICYMI: TDI Issues Data Call – Reports Due Aug. 13; Register for TLTA Webinar

RIN Authorization Expires Sept. 1

TLTA | July 21, 2021
Notice was published by the Texas Secretary of State announcing termination of the temporary suspension of regulations that allowed for the use of Remote Ink-Signed Notarization (RIN) in Texas.
 
Effective 12:01 a.m. on Sept. 1, 2021, the use of RIN will no longer be permitted in Texas. 
 
Following TLTA's initial request in April 2020, Gov. Abbott temporarily suspended traditional notary regulations to allow for temporary use of RIN under COVID-19 public health protocols. Under RIN, a "wet signature" is still used, but the signature is witnessed by a notary via video and audio channels, and the notary seal is affixed at a later time.
 
Review Posting From Texas Secretary of State »
 

CORRECTION: Escrow Officer Ethics Hours Remain at Two

TLTA | July 20, 2021
In last week's edition of Dateline, we reported that a bulletin issued by the Texas Department of Insurance applies to escrow officers. Upon further analysis of the statutory changes and discussions with the Department, we determined that this change does not apply to title insurance.
 
Escrow officers will continue to be required to obtain two hours of ethics continuing education every two-year licensing period.
 

TDI Quarterly Audit Results Published

TLTA | July 21, 2021
The following is a summary of recent TDI audits, violations and enforcement actions from March through May 2021.  
   
Read TDI's complete summary of operations for the quarter, or read the key statistics below.    
    
Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. This quarter, TDI conducted 76 audits.   
    
Commissioner Orders: This quarter, TDI signed 0 Commissioner Orders. As of this report, 42 cases remain active and under investigation.   
    
Compliance Audit Results: Below are TDI's most common audit findings for the quarter that ended in May. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred:
 
Number of Agencies
Category
Description
48
Texas Insurance Code
Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed
39
Minimum Escrow Accounting Procedures and Internal Controls
#16 - Every disbursement not supported by invoice or sufficient other evidence
33
Escrow Accounting
Outstanding checks not cleared timely
26
Minimum Escrow Accounting Procedures and Internal Controls
#15 – Disbursement sheets missing, incomplete or incorrect
26
Minimum Escrow Accounting Procedures and Internal Controls
#2 - Bank reconciliations, book balances, or three-way reconciliations prepared
incorrectly
 
Review the Complete Quarterly Audit Report »
 

TREC Applications for Public Members of Real Estate Inspector and Educational Standards Advisory Committees Due Aug. 15

Texas Real Estate Commission | July 20, 2021
The Texas Real Estate Commission (TREC) is accepting applications for appointment of public member positions on their Texas Real Estate Inspector and Educational Standards Advisory committees.
 
Learn More or Apply for TREC's Texas Real Estate Inspector Committee »
Learn More or Apply for TREC's Education Standards Advisory Committee »
 

ICYMI: TDI Issues Data Call – Reports Due Aug. 13; Register for TLTA Webinar

TDI | July 2, 2021
The Texas Department of Insurance sent its call for Agent Statistical Data on July 2 to each agency in Texas in accordance with Texas Insurance Code §2703.153, which requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit certain data to TDI. TDI uses this data to set title insurance premium rates.
 
Please note that this call is for data collected during calendar year 2019. You must respond to this data call using the provided instructions and forms no later than Aug. 13, 2021. If the title agent wasn't licensed until 2020 or later, they are not required to report for this data call. If they were licensed in 2019, they are required to report.
 
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty - Actuarial by phone at 512.676.6687 or by email at PCDataCallTitle@tdi.texas.gov.
 
The TLTA education department is conducting a webinar to help guide you as you complete TDI's mandatory data report. Mark your calendars and register for TDI Experience Reporting - Industry Financial Reporting on July 29. 
 
Read the Call » 


In addition to live webinars held throughout the year, you have access to our library of more than 80 On-Demand webinars and videos  covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends!