- May 17, 2011
- All Texas Issuing Offices
- Texas Department of Insurance; Changes to Statistical Code Reporting and Escrow Fee Disclosure Guidelines
The Texas Land Title Association (TLTA) recently issued a Compliance Update dated April 27, 2011, describing changes in statistical code reporting under the Texas Title Insurance Statistical Plan and updated guidelines for escrow fee disclosure on the HUD-1 Settlement Statement.
Statistical Code Reporting Changes
Several months ago, TLTA staff discussed with the Title Division and Data Services Department at the Texas Department of Insurance (TDI) the need for updating the statistical code chart to reflect recent rule and form changes. As a result, TDI staff developed proposed changes to statistical code reporting for the Texas Title Insurance Statistical Plan.
It is anticipated that these proposed amendments will be formally adopted at the 2010 biennial hearing. In the meantime, the TLTA announcement advises that TDI Title Division Deputy Commissioner Rob Carter verified that the proposed changes can be used for statistical reporting compliance.
Updated Guidelines Regarding Escrow Fee Disclosures
TLTA also worked with TDI to update HUD Guidelines in the Title Auditor's Notebook relating to escrow fee disclosures on the HUD-1 Settlement Statement.
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