Bulletin: TX2024002

Bulletins by State or Territory
Bulletins by Country

Bulletin: TX2024002

Bulletin Document
V 2
Date: March 15, 2024
To: All Texas Issuing Offices
RE: UNDERWRITING - Annual Escrow Audits Reminder

Dear Associates:

This bulletin is a reminder of the procedure for submitting Annual Escrow Audits to Stewart Title Guaranty Company (STGC). All agencies are required by the Texas Department of Insurance (TDI) to have an audit of their escrow accounts performed annually by an independent licensed Certified Public Accountant. The audit must be completed and sent to the TDI and to each underwriter represented by the agent within 90 days following the agent’s fiscal year end. For those agencies with a 12/31 fiscal year end, please note that February 2024 had 29 calendar days, so 90 days following your fiscal year end is March 30th.

The preferred method of delivery to STGC

is to email the scanned audit to:

texaslicensing@stewart.com

 

If you need to mail a copy, please note that our address has changed. You may mail the audit to:

Stewart Title Guaranty Company
Attn: Agency Compliance
1360 Post Oak Blvd. Ste. 100 MC #11-10
Houston, TX, 77056
Phone: 1-844-610-3690

 

Please remember the following procedures regarding these audits:   

  1. STGC maintains a schedule of all the Texas agencies, including fiscal year ends, which is used to track receipt of the audit reports. If for any reason you change your fiscal year end, please be sure to inform your Agency Sales Manager. 
      
  2. If STGC has not received the audit report within 100 days of your fiscal year end, (10 days past the due date to TDI), STGC will notify your Agency Sales Manager, who in turn will contact the agency and request a copy of the report.
  3. If on the 119th day following the agency’s fiscal year end (29 days past the due date to TDI), we still have not received the audit report, STGC is required by TDI to file a notice alerting them to the fact that the audit report is delinquent.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.


References

Bulletins Replaced:
  • None
Related Bulletins:
Underwriting Manual:
  • None
Exceptions Manual:
  • None
Forms:
  • None