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Appendix 3a. Does your title insurance agency maintain separate escrow account for each title insurerwith whom it holds an appointment? ____Yes ____Nob. Does each title insurer with whom you hold an appointment have an up-to-date list of alllicensed individuals who are either employed by or associated with your title insuranceagency?___Yes ___No ___ Some do and some do not.c. Please provide the information requested on Schedule B of this Survey.9. In addition to the $150,000.00 blanket fidelity bond or letter of credit and the $150,000.00 blanketsurety bond required under §10-121(e), does your title insurance agency maintain an(y)additional insurance policy(ies), bond(s), or letter(s) of credit that provide(s) coverage for lossesdue to the theft, misappropriation, or misuse of funds held in escrow by your title insuranceagency in connection with a real estate transaction?____ Yes____Noa. If you answered “Yes” to Question # 9, please provide the following information foreach policy, bond, or letter of credit that your title insurance agency maintains that is inaddition to the what is required under § 10-121(e). If your title insurance agencymaintains more than one additional policy, bond, or letter of credit, please use a separatesheet of paper to report the below-listed information and attach it to this Survey.The carrier’s name: ________________________________________________________The dollar amount of the coverage: ___________________________________________The annual premium amount paid: ____________________________________________10. Does your title insurance agency have a written policy and procedure for reconciling its escrowaccount(s)?_____ Yes_____ NoIf you answered “Yes” to Question # 10, please attach a copy of your written policy and procedureto this Survey.a. If you answered “No” to Question # 10, please explain on a separate sheet of paper how yourtitle insurance agency reconciles its escrow account(s) and attach your explanation to thisSurvey.b. Within how many days after your title insurance agency receives its bank statement does itreconcile its escrow account(s)? _________ (number of days)c. Does your title insurance agency maintain a separate ledger for bank fees?______ Yes____ Nod. If your title insurance agency uses any miscellaneous ledgers, please include that informationon Schedule C.
Appendix 3e. When reconciling its escrow account(s), does your title insurance agency perform a monthlyreview of the reconciliation detail for unusual activity or errors?_______ Yes____ Nof. Does your title insurance agency perform a three-way reconciliation each month on each of itsescrow accounts to confirm that the monthly ending bank balance, trial balance, and checkbookbalance are all equal?______ Yes___ No11. In how many states do you conduct real estate closings? ___________ (number of states)Certification of InformationI certify that I am an officer of the title insurance agency named below and on whose behalf thisSurvey was completed and submitted, and that the information provided to the MarylandInsurance Commissioner in response to the attached Survey, entitled Title Insurance Closing orSettlement Protection Practices - Study, is, to the best of my knowledge, information and belief,a full, complete, and truthful response. I also certify that I have the authority and haveundertaken an adequate inquiry to certify this information.Name: ____________________________________Title: _____________________________________Signature: ______________________________Date: __________________________________Name of Title Insurance Agency: ________________________________
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 54 and 55: Appendix 3SURVEYTitle Insurance - C
Page 58 and 59: Appendix 3QUESTION # 2Schedule ADor
Page 60: Appendix 3QUESTION # 10Schedule CMi
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