Bye-Bye Title Insurance?

[timd354]

I always had an issue with how the costs for title insurance were relatively the same. There must be collusion between major players.
Around here, Title and escrow are done by the Title Insurance companies.
If there's any reason for full disclosures, it's if Title giving any kickbacks to realtors.
Buyers and Sellers rely on agents' recommendations on which Title company to use.

In many states, the title insurance rates are set by the state insurance regulator and title insurers cannot charge a lesser rate even if they wanted to.....it is quite the system. By the way, in most states, about 80% of the title insurance premium is paid out in commissions and only 20% is used to cover the actual potential liability costs for the title insurer.

 

[Fernando]

In many states, the title insurance rates are set by the state insurance regulator and title insurers cannot charge a lesser rate even if they wanted to.....it is quite the system. By the way, in most states, about 80% of the title insurance premium is paid out in commissions and only 20% is used to cover the actual potential liability costs for the title insurer.

I remembered a Title agent who once told me that she replaced her BMW for a Toyota Solara and she regretted it.
It's just a car. She's so shallow.