Welcome Independent Title Agents P-24 Proposed Changes Online Meeting September 25, 2007 9:30 a.m. 11:00 a.m. .

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Welcome Autonomous Title Operators P-24 Proposed Changes Internet Meeting September 25, 2007 9:30 a.m.
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Welcome Independent Title Agents P-24 Proposed Changes Online Meeting September 25, 2007 9:30 a.m. – 11:00 a.m. Participant Dial-in Number 605-772-3434 Access Code: 490-504-045

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Guests Bob Philo Western Region Counsel, Southern Title Insurance Corp. Terry Grantham Owner, West Texas Title Company Rep. Drew Darby President, Surety Title Company Gregg Lyssy President, Mission Title Company

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Agenda Antitrust Statement P-24 – Background Pro & Cons - TLTA Recommendation Common Ground Goals: Provide Agents with data about P-24 Answer Agents questions Provide Contact data for TDI

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Antitrust Compliance Statement TitlewithTexans.com Online Meeting September 25, 2007 The antitrust laws of the United States are expected to keep any agreeable endeavor to control, meddle with, or limit unhindered commerce. The protest of this meeting is to share general data with respect to up and coming Rate & Rules Hearing at the Texas Department of Insurance and other related business. This data is to be utilized exclusively for the arrangement of individual business judgments based upon one\'s own insight and experience. It doesn\'t infer in any way that any business relationship be led or changed in any capacity. There is to be no dialog of costs or contract terms. Tentative arrangements, approaches, or future goals of participants may not be accounted for or talked about. Dialog of business practices and arrangements must be general in nature. No assentions of understandings might be made as for any client or customer, or the terms, costs or strategies of working together. Participants might not give exhortation or generally endeavor to impact the autonomous judgment of different participants in utilizing the data examined today to settle on business choices.

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Diversity of Interest Agents in little Counties Large & little Agents in substantial Counties ABA\'s – Builder/Real Estate/Lender possessed title organizations Agencies giving statewide administrations to Online Lenders – "Web" orders Underwriter Direct Operations

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Background of P-24 Proposal Agenda Item #2006-67 Filed by: Texas Department of Insurance Date documented: Sept.7, 2004 Amends: Procedural Rule P-24 to set sensible rate rates for installment of administrations for outfitting title proof and title examination and to evacuate dialect in the decide that regularly keeps urban and rustic operators from accepting a similar measure of premium for a similar work. TLTA Position: OPPOSE Agenda Item #2006-65 AS AMENDED BY JOHN KING Agenda Item #2006-65 Filed by: Sierra Title Group & Sierra Title Insurance Guaranty Company, Inc. Corrects: Procedural Rule P-24 to give limitations on a title insurance agency, specialist, or direct operation with respect to composed understandings that veer off from the exceptional split put forward in P-24. TLTA Position: SUPPORT as Amended

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TLTA, ITAT, METRO & Sierra Title Compromise (Prior to 9/5 Hearing) If arrangement sum is $125,000 or less 100% for confirmation or proof/exam 0% for shutting or shutting/exam Except if in adjacent areas with earlier composed assention made at the very least 90 days ahead of time If approach sum is more than $125,000 half for confirmation or exam half to close or shutting/exam Unless earlier composed understanding made at least 90 days ahead of time Note: All rates are after installment to the Underwriter

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Commissioner\'s Charge During the September 5, 2007 Rules Hearing Commissioner Geeslin asked the business to Amend P-24 and furnish him with contribution on the most proficient method to best change the Rule to address worries of ALL industry individuals. The Commissioner taught those present to consider that gatherings to premium parts ought to: Earn a satisfactory rate of return Fees paid ought to be proportionate with administrations rendered Consider who is at the most serious danger of being hurt Find a Long-term arrangement, not only a fleeting fix

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TLTA, ITAT, METRO & Sierra Title Proposal (Following 9-17-2007 TLTA Board Meeting) New TLTA/ITAT/Metro Agent/Sierra Title Position: Accepts Sierra Title\'s altered plan thing [2006-65] subject to the accompanying changes: 1.  Change the rates for strategies $125,000 and under to 90% and 10% 2.  Include intra-region exchanges and adjoining province transactions 3. 30 day installment condition attached to date of documenting 4. Increment the safeguarded sum from $125,000 to $150,000 following 5 years 5.  Include legal advisors authorized as escrow officers in the administer

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Comments Forget the PWA in light of the fact that the huge organizations will simply call the rustic organizations when this passes and solid arm them to get PWA how they need it at any rate. Pick a number and remove the transaction from it so everybody is in agreement. Additionally have better meanings of the effect between "title evidence" and "title examination" in light of the fact that no one appears to comprehend the distinction. Likewise make it clear that issuing the arrangement does not give you any more rate in light of the fact that excessively numerous individuals surmise that qualifies them for get all the more yet the govern does not specify anything about that.

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Comments (cont.) When it comes to parts, I generally get the short end of the stick. The enormous city operators need the dedication RUSH! Surge! Surge! and afterward they take 6 to 8 months to pay the split, if by any stretch of the imagination. At the point when the TDI was called to request that how handle the delinquency, I was informed that they don\'t prefer to get stirred up with monetary ranges. There is no purpose behind Houston or Dallas to need 60% to 80% for shutting, when they don\'t need to keep up a plant.

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Guests Bob Philo Western Region Counsel, Southern Title Terry Grantham West Texas Title Company Rep. Drew Darby President, Surety Title Company Gregg Lyssy President, Mission Title Company

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Contact TDI Comment straightforwardly to the Commissioner by sending to: Gene C. Jarmon, General Counsel and Chief Clerk Texas Department of Insurance William P. Pastime Jr. State Office Building P. O. Box 149104 Austin 78714-9104 by 5 p.m. Oct. 5, 2007.

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