The Texas Department of Insurance (TDI) has made a mandatory call for all title agents operating in the state to make their annual business data submissions by April 8.
This bulletin applies to any title agent engaged in the business of title insurance in Texas. Required business data includes tax, payroll, policy, income and expenses information from the 2024 calendar year. TDI uses this data to set title insurance premium rates.
No extensions to this call for information will be allowed, according to the TDI bulletin. Any agents or entities that fail to submit their information by April 8 will be subject to a referral to TDI enforcement and possible disciplinary action.
Data must be submitted using the PDF form provided by TDI. Scanned, faxed, or mailed copies of the report will not be accepted.
Earlier this year, TDI decided to lower title insurance rates by 10 percent statewide in an effort to lower costs for homebuyers. The decision was a matter of debate, with some industry associations, including the Texas Land Title Association (TLTA) in favor of rates remaining steady and others supportive of a rate reduction.
The TLTA had previously petitioned to keep any title insurance rate adjustments to a minimum, given the recent volatility in the market.