Will we finally see a move by title insurers in Colorado to finally charge for title insurance commitments issued for transactions that do not close? The only reason title companies do not charge for these services, even when the charge would be leveled against a consumer, is fear of retribution by referral sources such as realtors and lenders.
We have this problem in PA. We've got the law and it is not enforced. In fact, very few even seem to know it exists and so all are afraid to charge for services rendered.
I have asked ALTA and our state association PLTA to lead the way by but so far, no dice.
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