Industry News
November 15, 2011
California Department of Insurance Responds to CLTA Statistical Plan Letter
Recently, the CLTA reconstituted its former “Statistical Plan Working Group” to review the remaining ambiguities and inconsistencies that can be found in the California Department of Insurance Title Insurance Statistical Plan Regulations, relating to the collection of data from title companies. The Statistical Plan Working Group, chaired by Don Partington, Executive Vice President of Legal and Strategic Affairs at Fidelity National Financial, was able to highlight several issues where they sought clarification or modification to the forms title companies would be using to comply with the regulations. These issues were then shared by CLTA with the CDI staff.
The CLTA is pleased to announce that the CDI considered the ambiguities and will be addressing them as needed to make it easier for title companies to respond to the data request. Specifically, CDI Staff Counsel agreed with the CLTA’s stance taken in the letter that technical, non-substantive amendments should be made to: Schedule R4.1 regarding Collection of Escrow Fee Information, and Schedule R4.1 and 4.2 related to Confirmation Regarding Income Statement/Escrow Data and Confirmation Concerning Data from Controlled Escrow Companies. The statistical plan posted on the CDI website will now reflect the changes.
