How long can title company hold refinance funds?

I refinanced my house with a new lender on 5/17. The new lender funded on 5/23 and old lender expected funds on 5/24 (that was what the payoff figure was based on). Title company didn't bother sending the funds to the old lender until another week had passed, incurring additional interest charges. And when they sent the funds, they only send the amount based on the 5/24 payoff - which was no longer sufficient to payoff the loan and so the previous lender couldn't accept the payoff check. Is there some industry and/or federal guideline or rule about how long a title company can hold onto the funds AFTER the funding date? I've never had this happen before. As a result of the title companie's action (or lack thereof) - my prior lender didn't receive their money for more than two weeks after closing. I also caught the title company in an outright lie - they claimed to have overnighted the funds to my lender on 5/24 (still a day late) but the fedex showed they didn't arrange for pickup until after 6 pm on 5/27.