An awesome article on Rain City Guide that follows up on the recently noted injunction against Stewart Title is at this link: http://www.raincityguide.com/2007/08/06/cease-desist-order-by-wa-state-insurance-commission-against-title-co/
The author works in the industry and provides some interesting insight into his views on the matter and what he thinks would work better than today’s methods. I agree that arrangements of any affiliation should be noted up front in a transaction and not at the end. But when a title company is violating Real Estate Settlement Procedures Act (RESPA) laws you can’t really expect someone to disclose that up front, now would you?
I encourage our readers to post a comment about this practice and what kinds of penalties they think would be appropriate for both the title company and the agencies that participated in the offense.
