Important TDI Compliance Update

Firm ID and Individual ID Are Now the Key Numbers for TDI Communications
As a result of TDI issuing new agent and escrow officer license numbers and Firm ID numbers, TLTA and TDI have received several questions about when to use the License number and when to use the Firm ID number (replaced company ID).

For example, the question has been presented as to which number should be used on form T-00. The answer for this and most any other communication with TDI is the Firm ID. This is your new unique identifier number.

The same is true for the new escrow officer Personal ID Number, which should be used with continuing education credits and license renewals.

TDI's new licensing system and resulting protocols are now utilizing the Firm ID and Individual ID for all internal tracking, processing and record keeping.

Licensing and Minimum Capitalization — Requirements Not in Place Until July
We've also received clarification from TDI that agents seeking to be licensed do not need to submit their minimum capitalization evidence until July 3.

Both the renewal form and the new agent license form have this language:

Beginning July 3, 2014, all title agencies must comply with the minimum capitalization requirements in Administrative Rule S-1. Submit the latest copy of the title agency's form TS-1, T-S2, or other evidence showing how the title agency meets the minimum capitalization requirements.

Although one could read the second sentence to mean that an agent must submit evidence now, TDI has assured us that that is not the intent.

More to Come
The new TDI computer system for licensing, new rules, resource constraints, as well as an increase in demand have all converged to create delays and some confusion regarding all aspects of agent and escrow officer licensing. TLTA is working closly with TDI on all the licensing related questions that we have been gathering for several weeks now. TDI staff is putting together some guidance and feedback which we hope will prove helpful in addressing your questions. Stay tuned for more updates from us in the near future.

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Texas Land Title Association | 1717 W. 6th St. | Suite 120 | Austin, TX 78703

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