January 24, 2024

In This Issue:

  • TDI Quarterly Audit Results Published: September-November 2023
  • New Resource for Title Professionals to Share With Customers and Community: Unmasking Property Fraud - Protecting Your Rights and Interests

TDI Quarterly Audit Results Published: September-November 2023

Texas Department of Insurance | Jan. 22, 2024
The following is a summary of recent TDI audits, violations and enforcement actions from September through November 2023. Read TDI's complete summary of operations for the quarter, or review key statistics below.            
          
Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. This quarter, TDI conducted 83 audits.          
           
Commissioner Orders: This quarter, TDI signed three (3) Commissioner Orders. 
           
Compliance Audit Results: Below are TDI's most common audit findings for the quarter that ended in November 2023. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred:
 
Number of Agencies
Category
Description
52
Abstract Plant
Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed.
36
Minimum Escrow Accounting Procedures & Internal Controls
#16 - Every disbursement not supported by invoice or sufficient other evidence
35
Escrow Accounting
Outstanding checks not cleared timely
33
Procedural Rules
P-21: Schedule D of commitment not in file or premium split not disclosed on commitment.
33
Procedural Rules
P-73: Failure to prepare/maintain Form T-64 (TD) when CD used, or Form T64 was not signed by all parties. Prepared incorrectly. 
 
Review Complete Quarterly Audit Report ยป
 

New Resource to Share With Customers and Community: Unmasking Property Fraud - Protecting Your Rights and Interests

TLTA | Jan. 24, 2024
TLTA is grateful that Blair Raggio and Blair Nash of Allegiance Title Company volunteered to produce this new property owner-focused resource explaining the basics of safeguarding property, types of properties most susceptible to property deed fraud, and what property owners should do if a fraudulent deed is filed on their property.
 
We encourage you to share this article with individuals and organizations in your network:
Customers
Local news outlets
Real estate agents
Organizations that share real estate news and resources in their newsletters, on social media, or in blogs (e.g., HOAs and local chambers of commerce)
If you have questions about publishing this article, all inquiries and special requests can be directed to communications@tlta.com.
 
We greatly appreciate your support as you share this valuable resource with your network.
 
Click to read the article or click the image below: