An Analysis of Competition in the Title Insurance Industry PDF Download

Author: Joseph Real Brown
Publisher:
ISBN:
Category :
Languages : en
Pages : 624

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Author: California. Department of Insurance
Publisher:
ISBN:
Category : Escrows
Languages : en
Pages : 112

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Book Description

Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 320

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Book Description

Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 326

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Book Description

Author: Joseph W. Eaton
Publisher: NYU Press
ISBN: 0814722407
Category : Title companies
Languages : en
Pages : 301

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Book Description

Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 516

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Book Description

Author: Orice M. Williams
Publisher: DIANE Publishing
ISBN: 9781422317242
Category :
Languages : en
Pages : 86

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Book Description
Previously, the author identified issues related to title insurance markets, including questions about the extent to which premium rates reflect underlying costs, oversight of title agent practices, & the implications of recent state & fed. investigations. This report addresses those issues by examining: (1) the characteristics of title insurance markets across states; (2) factors influencing competition & prices within those markets; & (3) the current regulatory environment & planned regulatory changes. To conduct this review, the author analyzed available industry data & studies, & interviewed industry & regulatory officials in a sample of 6 states selected on the basis of differences in size, industry practices, regulatory environments, & number of investigations.

Author: American Land Title Association. Research Committee
Publisher:
ISBN:
Category : Insurance, title
Languages : en
Pages : 16

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Book Description

Author: Joseph W Eaton
Publisher: NYU Press
ISBN: 0814722466
Category : Business & Economics
Languages : en
Pages : 303

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Book Description
After World War II, banks and other mortgage lenders began requiring insurance to protect them against flawed or defective real estate titles. Over the past sixty years, the title insurance industry has grown steadily in size, power, and secrecy: policies are available for both lenders and property owners and many title insurers offer an array of other real estate services, such as escrow and appraisal. Yet details about the industry’s operational procedures remain closely guarded from public exposure. In The American Title Insurance Industry, Joseph and David Eaton present evidence that improvements in recordkeeping over the last sixty years—particularly the advent of computers—have reduced the likelihood of a defective title going unnoticed in a property transaction. But the industry’s flaws run deeper than mere obsolescence: in most states, title insurers are allowed to engage in anticompetitive business practices, including price-fixing. Among the findings in this meticulously researched study are instances of insurers charging premiums well above the amount necessary to compensate them for assuming the risk of defect and identical policies with identical risk that vary in price by hundreds of percentage points for different geographic locations. The authors also examine the widely ignored role that the federal and most state governments play in perpetuating the title insurance industry’s unfair practices. Whereas most private industries prefer as little government intervention as possible, title insurers welcome it. Federal statue exempts title insurers from anti-trust liability, opening the door for price-fixing and destroying any semblance of free-market competition or market power for consumers. A landmark study for elected officials, and all those involved in the insurance, real estate, and brokerage industries, The American Title Insurance Industry brings to light a long-neglected problem—and offers suggestions for how it might be remedied.

Author: Joseph W Eaton
Publisher: NYU Press
ISBN: 9780814722404
Category : Business & Economics
Languages : en
Pages : 287

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Book Description
After World War II, banks and other mortgage lenders began requiring insurance to protect them against flawed or defective real estate titles. Over the past sixty years, the title insurance industry has grown steadily in size, power, and secrecy: policies are available for both lenders and property owners and many title insurers offer an array of other real estate services, such as escrow and appraisal. Yet details about the industry’s operational procedures remain closely guarded from public exposure. In The American Title Insurance Industry, Joseph and David Eaton present evidence that improvements in recordkeeping over the last sixty years—particularly the advent of computers—have reduced the likelihood of a defective title going unnoticed in a property transaction. But the industry’s flaws run deeper than mere obsolescence: in most states, title insurers are allowed to engage in anticompetitive business practices, including price-fixing. Among the findings in this meticulously researched study are instances of insurers charging premiums well above the amount necessary to compensate them for assuming the risk of defect and identical policies with identical risk that vary in price by hundreds of percentage points for different geographic locations. The authors also examine the widely ignored role that the federal and most state governments play in perpetuating the title insurance industry’s unfair practices. Whereas most private industries prefer as little government intervention as possible, title insurers welcome it. Federal statue exempts title insurers from anti-trust liability, opening the door for price-fixing and destroying any semblance of free-market competition or market power for consumers. A landmark study for elected officials, and all those involved in the insurance, real estate, and brokerage industries, The American Title Insurance Industry brings to light a long-neglected problem—and offers suggestions for how it might be remedied.