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Showing posts from January 20, 2008

Title Insurance Not on Agenda

By BARRY MASSEY Associated Press Writer
SANTA FE — Gov. Bill Richardson has turned down requests from state regulators, the attorney general and others to have the Legislature consider reforms of the title insurance industry, which contributed to Richardson's presidential campaign. Advocates say legislation is needed to bring price competition to the title insurance system, which could lower closing costs for home buyers. Richardson will not put title insurance on the agenda of the 30-day session, but the industry's political contributions played no role in the governor's decision, according to a Richardson spokesman, Allan Oliver. Title insurance company officials and their family members contributed at least $30,000 to Richardson's presidential campaign through September, according to a review of campaign finance records by The Associated Press. Richardson's campaign collected about $18 million through the third quarter of 2007, which is the most recent time period …

CHL - ups title insurance usage

CHL Commercial has increased its use of title insurance for commercial remortgages. Effective immediately, CHL will increase title insurance on loans from £500,000 up to a new maximum of £750,000.Title insurance protects both lender and borrower from any problems that may arise with the ownership or the legal title of the property.“By increasing our use of title insurance on commercial remortgages, CHL Commercial is recognising that clients are currently seeking higher loan values and are also demanding faster turnaround times," said Mike Healy, head of commercial at CHL. "Using title insurance delivers speedier delivery and added security for both lender and borrower."“CHL would invite all advisers active in the commercial mortgage sector, and those considering their involvement, to speak with us to see how we can help grow their business in this potentially lucrative area.”Brokers considering entering into the Commercial sector or wanting to find out more about their o…

Governor Won'T Place Title-insurance On Legislature'S Agenda

Governor Richardson has turned down requests to have the Legislature consider reforms of the title insurance industry.Advocates say legislation is needed to bring price competition to the title insurance system, which could lower closing costs for home buyers.State regulators, the attorney general and others had requested the issue be heard, but Richardson says it won't be on the agenda for the 30-day session.An Associated Press review of campaign finance records showed that title insurance company officials and their family members had contributed at least $30,000 to Richardson's presidential campaign through September.1 of Richardson's top political aides also has ties to the industry.A spokesman for Richardson says the contributions played no role in the governor's decision.