Morris Chavez, the superintendent of New Mexico's Department of Insurance, a division of the New Mexico Public Regulation Commission, announced on June 30, 2009 that real estate title insurance premiums would rise by 10.7 percent overall. Additionally, the remittance rates from title agencies to underwriters will increase from 19 percent to 20 percent for residential properties. The new rates are effective August 1, 2009. The ruling was based on findings of pre-filed testimony, direct testimony, facts of law and a rate hearing held in November 2008 and a final information hearing in the first week of June 2009.