An Act to Ban Affiliated Title Business

Banning affiliated business arrangements in title insurance will inject healthy competitive market forces into the title insurance marketplace and isolate important title and closing decision making processes from the influences of financially interested transaction service providers.

TRELORA exposes $27 billion commission price fixing scheme. Promptly shut down.

Buyers have an absolute right to know how much money is being offered to their agents before buyers are shown homes and possibly advised to buy homes with larger buyer agent payouts. Keeping buyers in the dark is costing them $30 billion annually.

CFPB Enforcement Action against Wells Fargo and JPMorgan Chase

Congratulations to the CFPB for another enforcement action involving illegal kickbacks. This time the fines amounted to over 35 million dollars and involved two mortgage giants – Wells Fargo and JPMorgan Chase. The illegal conduct involved a title company providing “marketing services” to loan officers. Those services included providing loan officers with purchased consumer data and creating letters with the banks’ logos that the title company had printed, folded, stuffed and mailed.

DORA to Colorado agents: Don't keep listings off market to boost pay

DORA to Colorado agents: Don't keep listings off market to boost pay

Consumer Alert - Zillow's "Coming Soon" feature

Zillow just released a new "feature" called "Coming Soon." This feature seeks to advertise one of the most anti-consumer practices in real estate called, "pre-MLS,""pocket listings," and "pre-market." These arrangements are bad for sellers, buyers and the marketplace.

Dual Agency Article by Mike Fleming, member of the William Mitchell Law Review

 William Mitchell Law Review Article by Micheal Fleming (click here to read it).  

 

NAILTA Study - No In-house Title

The National Association of Independent Land Title Agents (NAILTA)  has just released a consumer survey that sheds  light on what is important to consumers in selecting a title company.  This survey (click here to read it) is extremely important because it is the first of its kind to ask important questions that are designed to provide accurate results.