The House voted 280-131 to pass H.R. 1153, the Mortgage Choice Act of 2017, a regulatory bill that was created in an effort to provide relief to mortgage lenders by excluding certain charges from the points and fees calculation. In support of his bill, Rep. Bill Huizenga (R-Michigan), argues it would preserve consumer choice and potentially…
This is another important update on the pending legislation known as the Mortgage Choice Act and efforts by the affiliated business lobby to decrease your efforts to compete for settlement business and to raise the cost of closings for American consumers.
The Source of Title has once again uncovered an interesting story from the American Land Title Association’s past. This time, it has to do with ALTA’s support of a private right of action for competitors to sue an offending settlement service provider under RESPA Section 8. Click here for the full story from SOT. In…
ALTA and each of the national title underwriters joined RESPRO, NAR and MBA in filing amicus briefs in the Edwards case opposing independent title agents and supporting a narrow view of RESPA Section 8. January 19, 2011- Prior to the filing of an amicus brief in the United States Supreme Court concerning the Edwards v. First American Title action, ALTA and…
