How often are underwriters required to conduct audits of their title agents or companies?

Underwriters are required to conduct audits of their title agents or companies at least once every year. This frequent auditing is essential to ensure compliance with regulatory standards, assess the financial stability of the title agent, and verify that they are adhering to the underwriting guidelines established by the insurer. Annual audits allow underwriters to detect any potential issues or discrepancies in a timely manner, helping to maintain the integrity of the title insurance process and to protect the interests of all parties involved in real estate transactions. Regular audits also foster a strong relationship between the title agency and the underwriter, promoting transparency and trust in the business practices.