By Lydia Blair
Texas Department of Insurance (TDI) recently released the 2016 Title Agent Statistical Report. Yes, this is now the summer of 2018, so those stats are a bit dated. What can I say? It’s a government agency.
TDI licenses and oversees all title agents in Texas. Our state’s title insurance business is highly regulated and title companies are audited at least every 2 years. Every agency must account for every dime they take in and every dollar they spend.
Take a glance at this 326-page report and you can see why it could take months to compile this information. The report covers every title agency’s income, expenses, and losses. The majority of title companies on the list are Independent Agents. The others are either Affiliated Agents or Direct Operations.
For each agency, they disclose their income, which consists mostly of the amounts they collected in title premiums. In the expense column, you can see how much in total salary they paid their employees and how much the owner/partners were paid. Other details of expenses like rent, utilities, postage, telephone, courier fees, and office supplies are included.