Title Companies, Escrow Providers Fined By Texas DOI

Title Companies, Escrow Providers Fined By Texas DOI

The Texas Department of Insurance (TDI) this week announced enforcement actions finalized in May. Listed among the alleged violators were several title companies, abstractors, and escrow officers.

The TDI announced actions involving the following companies and individuals:

  • Alamo Title Co. of Tarrant County Inc. The Forth Worth title company was fined $13,000 for allegedly allowing an employee to act as an escrow officer without holding a proper license.
  • Dulaney Abstract Co. of Haskell. The company was fined $10,000 for allegedly failing to timely file annual trust fund account audit reports. They were also fined for failing to timely remit guaranty fees.
  • Independence Title Co. of Austin. The title company was fined $22,000 for allegedly allowing attorneys who were not licensed escrow officers to close title transactions for which an insured closing and settlement letter had been issued.
  • Autumn Dawn Revoir. The Mansfield woman was fined $4,500 for allegedly acting as an escrow officer without a proper license.
  • Security Title of Corpus Christi. The title company was fined $2,500 for allegedly failing to remit title insurance policy guaranty fees.
  • Texas Nations Title Agency Inc. of Houston. The title company was fined $5,800. The title agency allegedly failed to timely remit title insurance policy guaranty fees.
  • Carrie Lee Weekly. The San Benito escrow officer's license was revoked for allegedly engaging in fraudulent or dishonest acts or practices and making a material misrepresentation on a license application. Weekly's escrow officer license renewal application was also denied.

 

 

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Amy Swinderman is the editor of The Legal Description a trade publication specializing in focused analysis of legislative, regulatory and legal issues facing the title insurance and real estate settlement services industries. The Legal Description is a publication of October Research Corp the nation’s premier provider of real estate industry news and analysis.




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