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Texas orders cut to title insurance premiums

Housing Wire

A 10% reduction in title insurance premiums was recently ordered by the Texas Department of Insurance (TDI), with the regulator citing profit ratios that were deemed to be excessive. According to the order, TLTA advocated for no changes to title insurance premiums while OPIC recommended a reduction of 8.9% between 2003 and 2022.

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Why title insurance is essential to the U.S. system of property rights

Housing Wire

Anyone undertaking this title review must first establish that the seller has ownership of the property. Litigation often erupts when the legitimate owner discovers the fraudulent sale, leaving the true owner and defrauded buyer shouldering the costs of the lawsuit.

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Beating the noise: How title companies can position for the upcoming refi market

Housing Wire

It was July of 2020 and the interest rates had just dropped below 3%, every Title & Escrow company was slammed! Every title company wanted a great piece of the current refi market and most would do about anything to obtain it.The problem; almost all were late to the party and not prepared.

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Attempted Graceland sale exposes title, mortgage fraud tactics

Housing Wire

Seller impersonation fraud has reportedly risen significantly over the years, and one such fraudster attempted to cash in by facilitating a fraudulent sale of Graceland, the famous Memphis, Tennessee , home owned by the late Elvis Presley.

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Some title insurance policies protect against home title theft. Does yours?

Housing Wire

She later discovered that unknown fraudsters had forged and filed documents to make it look like her house had been sold at a foreclosure sale. Most victims cannot afford the fight to recover their title, and some lose their homes altogether. It didn’t make sense to her because she had owned the home for almost three decades.

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Title premium volume fell 31% in 2023

Housing Wire

As existing home sales dropped to the lowest level it has seen in nearly three decades in 2023 , title insurance premium volume also took a hit. In 2023, the title insurance industry generated $15.1 In 2022 , the title industry generated $21 billion in premiums. with 22.0%; Old Republic National Title Insurance Co.

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Anywhere faces racketeering charges in Minnesota lawsuit

Housing Wire

The suit also alleges that the defendants which include the brokerages, agents, brokers, support staff, title companies and banks involved in the transaction coordinated to gain an unfair advantage. The other defendants in the suit are those involved in the title and escrow process and the wiring of the allegedly fraudulent funds.