September 19, 2024

In This Issue:

  • New Webinar to Help Agents Prepare TDI Stat Reports Due Oct. 14
  • Basic Manual Update Series - Countdown to November 1, Installment 7: The T-19 Series
  • TDI Announces Public Meeting to Hear Comments on Title Insurance Rates on Oct. 22
  • ALTA Best Practices Revised
  • ICYMI: Texas Legislature Update: TLTA Testifies at House Business and Industry Committee on Deed Fraud; Lt. Gov. Issues Second Round of Interim Charges

New Webinar to Help Agents Prepare TDI Stat Reports Due Oct. 14

TLTA | Sept. 19, 2024
TLTA is proud to present a new, live webinar tomorrow, Friday, Sept. 20: Guide To Completing the TDI Agent Statistical Report. 
 
Learn how to accurately report financial data, navigate TDI’s interactive forms, and avoid common pitfalls that can lead to reporting discrepancies.
 
Key Takeaways
  • Understand the purpose and importance of the data call.
  • Learn how to gather and report required data accurately.
  • Avoid mistakes that could delay or complicate your submission.
  • We’ll also cover key deadlines, required forms, and best practices to ensure your submission is timely and accurate.
If you miss the live version of this webinar being presented tomorrow, Friday, Sept. 20 at 10:30 am Central, an on-demand version of the webinar will also be available.
 
 
Background on TDI's call for agents' 2023 data due Oct. 14
 The Texas Department of Insurance issued a call for agent statistical data on Sept. 6 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 2023. You must respond to this data call using the provided instructions and forms no later than Oct. 14, 2024.
 
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty Actuarial Office by phone at 512-676-6693 or by email at [email protected].
 

Basic Manual Update Series - Countdown to November 1, Installment 7: The T-19 Series

TLTA | Sept. 19, 2024
On May 14, 2024, the Texas Department of Insurance published a proposal to update, correct, and clarify rules and forms in the Basic Manual. The public comment period has passed. A final adoption order will be issued with a Nov. 1 effective date.
 
To ensure TLTA members are prepared for these upcoming Basic Manual changes, we launched a Dateline series, Basic Manual Update - Countdown to Nov. 1, to provide detailed overviews of the modifications that will be implemented in the Basic Manual starting Nov. 1.
 
This multi-part series covers revised rules and forms, helping you understand and implement changes by the November 1 effective date to ensure you and your business are in compliance with state regulations. We are grateful to TLTA Regulatory Committee Chair Roland Love for producing this series, as well as the webinar that you will find below.
 
Learn more about TLTA's role in the development of the new rules being finalized by TDI for implementation in November. 
 
Read installment 6 of this series below:
 

 
Installment 9
 The T-19 Series
 by Roland Love, TLTA Regulatory Committee Chair
  
The T-19 series of endorsements includes T-19 (Loan Policy), T-19.1 (Owner’s Policy), T-19.2, and T-19.3. There will soon be a T-19.4 for energy projects, but that will be covered in a future installment of this series. These endorsements were adopted at different times, and with changes in the marketplace, some variations have emerged. The main goal of these updates is to make the language consistent across endorsements, so that consumers and attorneys don’t feel the need to request multiple endorsements when one is sufficient.
 
Read Installment 7 »
Read earlier installments in this series »
 
Looking for additional resources on Basic Manual changes to be implemented Nov. 1? Check out our on-demand webinar.
  
Watch our latest on-demand webinar, 2024 Basic Manual Changes, for a detailed overview of the upcoming rule and form changes presented by TLTA's Regulatory Committee Chair Roland Love.
 

TDI Announces Public Meeting to Hear Comments on Title Insurance Rates on Oct. 22

TLTA | Sept. 17, 2024
The Texas Department of Insurance (TDI) will hold a public meeting to hear comments on title insurance rate levels. The public meeting will be held 2-4 p.m., Oct. 22, 2024.
 
TLTA has anticipated this public meeting and will participate on our industry's behalf.
 
Review TDI's public meeting notice »
 
Note: This is a meeting and not a hearing.
  
TDI's 2024 Title Rate Report
 The Texas Department of Insurance (TDI) is reviewing information related to title insurance premium rates. TDI's 2024 Title Rate Report can be found on TDI's Property and Casualty reports web page.
 
Review TDI's 2024 Title Rate Report »
 
This public meeting is an expected part of a rate review process already underway and TLTA will participate on our industry's behalf
 The Oct. 22 public meeting is an expected part of a rate review process already underway. TLTA will continue preparing alongside our team of actuaries, economists, legal counsel, and volunteer leaders, and we will participate in the hearing on our industry's behalf. We will share more info with you as it is available.

Questions or comments?
 If you have questions, please send them to Aaron Day or call Aaron at 512.810.8800, thank you.
 

ALTA Best Practices Revised

ALTA | Sept. 17, 2024
Revisions to the ALTA Best Practices have completed a review period and are now available here.
 
Learn more about ALTA's revisions to Best Practices »
 
 
The following companies have made the All In For Your TLTAPAC Commitment: San Jacinto Title Services of Texas, LLC First Community Title LLC Texas National Title Truly Title, Inc. Republic Title of Texas, Inc. Valley Land Title Co. Freedom Title Platinum Title Partners, LLC Providence Title Company Town Square Title Company, LLC Agents National Title Insurance Company. Click here to learn more:
   

ICYMI: Texas Legislature Update: TLTA Testifies at House Business and Industry Committee on Deed Fraud; Lt. Gov. Issues Second Round of Interim Charges

TLTA | Sept. 12, 2024

House B&I Hearing on Deed Fraud

The Texas House Business and Industry Committee met last week to discuss interim charges, including the following charge:
 
Examine the proliferation of fraudulent deeds purporting to convey the sale or transfer of real or personal property. Recommend policy changes that will better protect potential victims from this illicit activity.
  
TLTA Board Member and Judiciary Chair Committee Chair Leslie S. Johnson testified at the hearing. You can listen to her testimony by clicking the image below and forwarding to time stamp 2:08:08.
 

Listen to Leslie S. Johnson testify on deed fraud at House Business and Industry Committee meeting by forwarding to timestamp 2:08:08 

Lt. Gov. Releases 2nd Round of Interim Charges

Lt. Gov. Dan Patrick last week issued a second round of interim charges for Texas Senate Committees to consider as they prepare for the 89th Legislative Session, which begins this January 2025.
 
At least two of the new charges address issues relevant to our industry: 
 
Non-Compete Agreements: Examine the impact of the Federal Trade Commission’s final rule on non-compete agreements on Texas employers including, but not limited to, contractual exceptions and limitations on independent contractors, for-profit and non-profit businesses, and senior executives. Identify ways to address balancing legitimate business interests of employers while also protecting employment mobility, increasing innovation, and fostering new business formation. Report on whether any changes should be made to existing law on the criteria, procedures, and remedies on enforcing noncompete and alternative agreements.

Financial Crimes: Evaluate financial criminal activity trends in Texas, including the fiscal impact on consumers, financial institutions, local economies, and businesses. Determine the extent of payment fraud by transnational criminal gangs. Study the impact of the Financial Crimes Intelligence Center (FCIC). Make recommendations that enhance penalties for check and payment fraud and identify ways to strengthen financial crime investigations in Texas.
 
Review the Lt. Gov.'s statement on new charges »
Review the new charges »Review TLTA's ongoing work with the Texas Legislature interim charge process »