Louisiana will begin requiring certain title insurance identification information on recorded mortgages starting January 1, 2012. LA Rev. Stat. Ann. §22:513.1 will require each mortgage insured by a loan title insurance policy to contain the following identifying information:
(1) The name, address, and Louisiana license number of the issuing title insurance producer.
(2) The name of the title insurance underwriter issuing the policy.
(3) The name and bar roll number of the attorney licensed to practice law in Louisiana who provided the title opinion upon which the title insurance policy is based.
Prior to recordation, the title insurance producer must verify that the identifying information listed above is included on the mortgage. The information may be typed or stamped on the document or included on a separate form attached to the document. A new “LA Title Insurance Rider” (cx16234) has been created in ConformX to fill this requirement.
In order for the information to print on the rider, clients will be prompted for the following fields in Louisiana closing packages if they are not already set:
- Title Company Name
- Title Company Street Address
- Title Company City
- Title Company State
- Title Company Zip
- Title Company License Number
- Title Insurance Underwriter Name
- Title Opinion Attorney Bar Roll Number
- Title Opinion Attorney Name
The “LA Title Insurance Rider” will print in Louisiana closing packages effective January 1, 2012. Blank lines will print on the new mortgage rider for the title company to fill in if the corresponding fields are left blank in ConformX.
December 29, 2011