DFS Tag

Editorial: Blame Albany for gouging homebuyers

The Buffalo News. News Editorial Board.

It’s one of those stories that is easy to pass over: the costs of title insurance in New York. But it described a practice that costs New York homebuyers hundreds of dollars in extra closing costs and, in some cases, thousands of dollars. Albany allows it...

OneTitle CEO Warns Regulatory Change ‘Leaves No Flexibility’

Law360. Written by Andrew McIntyre.

A new regulation that bans New York title insurance companies from offering inducements to potential clients will fundamentally change the landscape for an industry long accustomed to the practice, OneTitle National Guaranty Co. Inc. CEO Daniel Price told Law360 in a recent interview. The change, known...

Important Information about Regulation 208

Alan M. Doran, OneTitle General Counsel

The major legal changes last week prompted many questions from clients. We want you to have the facts you need to protect yourself and avoid the misinformation. The major points: Regulation 208 is fully in effect. No legislation passed that changes the regulation in any way. ...

Legislature Moving to Gut Curbs on Title Insurance Costs

Habitat Magazine.

For the time being, New York homebuyers’ closing costs will not include the cost of Madison Square Garden tickets, trips to strip clubs, or even the price of a humble cup of coffee. New regulations to curtail fees charged by title insurers have gone into effect...

LETTER: AS TITLE INSURANCE OPTIONS EXPAND, PRICES WILL DROP

Albany Times Union. A letter to the editor by Daniel C. Price.

To the Editor: The Times Union and the Department of Financial Services are right to target the worst practices in title insurance ("Editorial: The American Dream Fee," May 4, 2017). We completely agree that title insurers should compete based on who offers the best price and...

OneTitle gets rate-reduction approval

As seen in The Title Report

The New York State Department of Financial Services has approved OneTitle National Guaranty’s request to reduce rates on real estate transactions of more than $15 million, including purchases, loans, and refinances. According to the company, the newly approved rates are 25 percent lower than the prevailing...