I am anxiously awaiting, as many of my peers are, for the return of local title and escrow representation in our communities on REO transactions.
I understand that there is a bill on Arnold's desk to be signed to this effect.
Coming from the title/escrow industry, I will always be sensitive to this situation, because buyers and sellers are not served properly by out of area title/escrow providers, and frequently charged twice as much for these services!
Any title folks have news??
Pam - Nothing more than you have heard... It really is in the best interest of the buyer to allow the title and escrow work to stay local... The problem is that large asset management companies cut deals with title companies on the national level for discounted fees...
AB957 recently was signed into Law by the Governor -- it might move local title company and escorw companies to front -- it will take time but you have ammunition now to work with your local reps. Make it a profitable day!
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