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Appendix 3SURVEYTitle Insurance – Closing or Settlement Protection Practices StudyDue by Close of Business on Monday, July 30, 2012Please note that, unless otherwise indicated, this Survey applies to Maryland title insurancebusiness only.Please respond to the following questions, provide the information requested, and return the signedCertification Statement for the information provided.1. Please enter the number of accounts for each category listed below that are maintained by yourtitle insurance agency as of the date on which you are responding to this Survey.___ # of operating accounts___# of escrow accounts (also known as trust or recording accounts)___ # of investment interest bearing accounts (also known as sweep accounts)___ # of title insurance premium accounts___ # of release fee (also known as recording fee) accounts___ # of other fiduciary and/or non-fiduciary accounts that are not listed above.If you have other fiduciary and/or non-fiduciary accounts that are listed above please list thembelow. If you require additional space, please use a separate sheet of paper and attach it to thisSurvey.__________________________________________________________________________________________________________________________________________________________________2. Does your title insurance agency co-mingle its residential and commercial escrow accounts?___ Yes ____ No ___ Sometimes (If you answered “Sometimes” please attach aSeparate sheet of paper with an explanation of youranswer.)3. Does your title insurance agency co-mingle its Maryland settlement funds with the settlementfunds from other states?___ Yes___ No
Appendix 34. How many dormant escrow accounts does your title insurance agency currently have? For thepurpose of this Survey, a dormant escrow account is an escrow account that has a balance but,other than the posting of interest, has had no activity for at least 90 consecutive days._____ (# of dormant escrow accounts)a. For each dormant escrow account reported above, please provide the informationrequested on Schedule A of this Survey and respond to Questions 4(b) and 4(c) below.b. Of the number of dormant escrow accounts that you reported above in Question # 4, howmany of those dormant escrow accounts have been dormant for three or more years?_______ (# of dormant escrow accounts that have been dormant for three or more years)c. What is the total current dollar amount in the dormant escrow account(s) that has/havebeen dormant for 3 or more years? $__________5. Since 2006, has your title insurance agency escheated any funds to the State of Maryland?___ Yes___ Noa. If you answered “Yes” to Question # 5, what is the total dollar amount that your titleinsurance agency has escheated to the State of Maryland since 2006? $ __________6. Does your title insurance agency have a written policy and procedure for returning escrowedfunds to a consumer?___ Yes___ Noa. If you answered “Yes” to Question # 6, please attach a copy of your written policy andprocedure to this Survey.b. If you answered “No” to Question # 6, please explain on a separate sheet of paper howyou return escrowed funds to consumers and attach your explanation to this Survey.7. Does your title insurance agency have a written policy and procedure for informing consumers,prior to closing (also known as settlement), of the availability of the following rates:a. Reissue title insurance rates? ___ Yes ___ Nob. Substitution title insurance rates? ___ Yes ___ Noc. Simultaneous title insurance rates? ___ Yes ___ Nod. If you answered “Yes” to (a), (b), (c) or (d) of Question # 7 please attach a copy of eachpolicy and procedure to this Survey.e. If you answered “No” to (a), (b), (c), or (d) of Question # 7, please explain on a separatesheet of paper how you inform consumers of the availability of that particular rate andattach your explanation to this Survey.8. With how many title insurers does your title insurance agency currently hold an appointment?___________ (number of title insurers)
Page 2 and 3:
Report of the Study ofClosing or Se
Page 4 and 5: TABLE OF CONTENTSI. EXECUTIVE SUMMA
Page 6 and 7: Although in a minority of states an
Page 8 and 9: or misuse of closing or settlement
Page 10 and 11: (4) Division of Consumer Protection
Page 12 and 13: title insurance producer or agency
Page 14 and 15: As part of its Insurer Survey, the
Page 16 and 17: or dishonest practices, the underwr
Page 18 and 19: eported having a least one escrow a
Page 20 and 21: ond also may be purchased by an und
Page 22 and 23: 4. Other Protection Available to Un
Page 24 and 25: 1. Preventive MeasuresProducer Lice
Page 26 and 27: lender’s funds or documents. The
Page 28 and 29: In the event of the insolvency of a
Page 30 and 31: insurance task force. The informati
Page 32 and 33: in excess of 20 cents in claims on
Page 34 and 35: create an environment vulnerable to
Page 36 and 37: Appendix 1MARTIN O'MALLEY, Governor
Page 44 and 45: AppendixAppendix22MARTIN O’MALLEY
Page 46 and 47: Appendix 2c. If you answered “No
Page 48 and 49: Appendix 2Certification of Informat
Page 50 and 51: Appendix 2QUESTION #3Schedule BStat
Page 52 and 53: Appendix 3
Page 56 and 57: Appendix 3a. Does your title insura
Page 58 and 59: Appendix 3QUESTION # 2Schedule ADor
Page 60: Appendix 3QUESTION # 10Schedule CMi
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