Scrutiny Tightens for Title Insurers
By JOHN R. WILKE
WSJ
February 12, 2008; Page A1
“The collapse of the housing boom is bringing harsh new scrutiny to the $17 billion title-insurance business, including allegations that insurers colluded illegally and paid kickbacks to agents or brokers to get business.
In the latest legal challenge, an antitrust suit filed Feb. 1 in federal court in Brooklyn accuses the four firms that dominate title insurance nationwide of illegally fixing prices in New York state. Although insurance firms have limited immunity from antitrust claims because state regulators approve their rates, the suit accuses title firms of concealing improper costs underlying their rate requests.”
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For almost everyone, real estate is their largest investment, by one or more orders of magnitude. You think it is a good idea to to risk that, in order to save a few hundred bucks, by hoping that the guy before you had it right?