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Settlement associations report confusion over calculation, ‘optional’ owner’s policies
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Regulatory Updates
Monday, January 27, 2020
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In letters responding to the Consumer Financial Protection Bureau’s request for information regarding its plan to assess the TRID rule, title and settlement industry associations reported continued confusion among consumers regarding the disclosure of title premiums, particularly when owner’s and lender’s policies are simultaneously issued. They also reported confusion over the use of the word “optional” to describe owner’s title insurance. Read on for more details.
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