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Lenders could face trouble for tying borrowers to title companies

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Mortgage Professional America | 21 Jun 2013, 05:00 AM Agree 0
Lenders have to be cautious how they steer customers to title insurance companies, as it might be illegal in some states
  • Griff | | 21 Jun 2013, 09:08 AM Agree 0
    Biggest abuse and problem with title selection.... real estate companies and builders that own mortgage, title and also get paid for home owner insurance. Steering buyers to in house sources causes them to not shop all too often. All around bad deal for consumer.
  • Danealle Marshall | | 04 Jul 2013, 03:04 AM Agree 0
    My understanding is that the proposed disclosures encourage consumers' shopping for rates and given a selection of title companies and other servicers. The Know Before You Owe Program at CFPB.gov provides an easy access table, inclusive of proposed rule summation and proposed forms in PDF format.
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