Millennium Title Company in Receivership

By
Real Estate Broker/Owner with Providence Group Realty TREC# 0608931

While it is comforting to know the authorities are involved, yesterday's breaking story about TDI's takeover of Millennium Title is sweeping the local DFW market this morning. The owner, along with millions of dollars of customers' money, appear to be missing.

The state has set up this website for buyers and sellers in the process of buying or selling a property held in escrow with Millennium Title.  

According to NBCDFW.com, State caretakers are now stepping in to close transactions currently in process, and TDI speokesman, Jerry Hagins, assures the public that money in escrow up to $250,000 is insured, and promises little disruption to consumers. Reporter, Scott Gordon, has the full story.

Screenshot Source: www.nbcdfw.com

Help for Affected Consumers: TTIGA

The Texas Title Insurance Guaranty Association (“TTIGA”) is a non-profit, unincorporated association of all Texas-licensed title insurance companies. It exists to protect Texas title insurance policyholders and claimants when a title insurance company or agency fails. Per TTIGA's website, parties who have an interest in or possible claim against Millennium Title can follow their claims process or reach out to them for further assistance.

 ADDED WARNING:

If you are researching this story and the title company's owner, it is recommended to avoid the txtitleattorney domain, as it has been flagged by google as having the potential to allow programs to install malicious software on your computer.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Local News and Events
Location:
Texas Collin County Plano
Groups:
Collin County, TX Real Estate Professionals
Dallas, TX Real Estate Professionals
Bananatude
What's Got Your Goat?
Texas Independent Broker Network
Tags:
escrow
claim
llc
receivership
tdi
llp
sdr
millennium title
nancy carroll
ttiga
special deputy receiver
john herlihy
cantilo bennett
millennium closing services

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
812,252
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Amanda, this is great information for your Dallas consumers on a very unsettling situation.    Hopefully  the Texas Title Insurance Guaranty Association will work as advertised to protect your consumers.  I would imagine it will take some time to check back on all the recent closings to indeed find out if those premiums were paid as promised.  What a mess, if not!

Feb 01, 2016 11:05 PM #1
Rainmaker
1,269,432
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Tough situation for anyone to find themselves in, Amanda Thomas ... and obviously worrisome on both the professional and clients' behalf.  Glad that you are helping to get the word out regarding this unsettling issue ...

Gene

Feb 02, 2016 06:37 AM #2
Anonymous
Anony by choice

I'm one of the affected buyers. What's more ttiga are not helpful at all. It could take a long time and it is a false statement to say consumers are not affected. We are. The sellers in our personal case are still paying mortgage and no One is going to reimburse them. The pain and suffering because of this had made me realize, I will never insist that My clients use a particular title company. All title company people in my view are potential crooks. And the Texas law puts a cap of 250000 on each transaction. So agents and brokers beware. You're at risk if you sell properties worth more that 250k. You have to live it to believe it.

Feb 22, 2016 10:18 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
161,879

Amanda Thomas

​Broker, SRES®, BPOR, MCNE, ​Certified DRS Agent™
Ask me a question
*
*
*
*
Spam prevention

Additional Information