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Source of Title Blog Responds to Poizner
Steve Poizner, the insurance commissioner for the California Department of Insurance, recently stated that "the title industry is broken." In many respects he is correct and I, for one, agree with many of his recommendations. Especially the idea that title insurance companies need to change themselves. He wants to offer title insurers a chance to clean themselves up before creating more regulations. IMO this is the way to go and let's hope that the title companies in California get the message. Roberto Franco at the Source of Title Blog has a new post discussing some if his ideas. I agree with much of what he is saying but there is one point that I do disagree with. He believes is that marketing to consumers is not the right way to go and states "If the goal is to get the title companies to market directly to consumers, that may increase operating costs. It may be difficult to get the title companies to spend more money on marketing in the face of rate caps." OK, he may be right if title companies continue to market to real estate professionals AND add consumers to their marketing efforts. IMO what Mr. Poizner wants is ... more
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