Thursday, August 25, 2011

New York takes aims at steering by real estate broker to affiliated title agencies

A law aiming to prevent improper quid pro quos for title insurance agents just got a new set of sharp teeth -- causing a furor in the already embattled industry. 

In late May, the Office of the General Counsel of the state's Insurance Department issued an opinion about whether it's legal for a residential brokerage to place lawyers on "recommended" lists, which are distributed to homebuyers, in exchange for those lawyers referring clients to the brokerage's title insurance affiliate. 

Read more on The Real Deal.

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