Loading...
Market
What will be the average reduction percentage in title insurance costs for mortgage refinancings by end of 2024?
2
Resolution / Starting Odds
0-10% • 25%
11-20% • 25%
21-30% • 25%
Over 30% • 25%
Industry reports or official announcements from title insurance companies
Story
Biden Administration Seeks to Reduce Misaligned Title Insurance Costs for Mortgage Refinancings
Jul 10, 2024, 03:55 PM
New data indicates that the cost of title insurance, a universally-despised mandatory fee for homeowners taking out mortgages, is significantly misaligned with the actual risk it covers, particularly in the context of mortgage refinancings. The Biden administration is aiming to reduce these costs as part of a broader initiative to lower closing costs for homebuyers. Title insurance is widely regarded as one of the most disliked fees associated with mortgages. Despite the low loss ratio due to proactive measures by title insurers, the current pricing remains a contentious issue.
View original story
Similar markets
Less than 50% • 25%
50% to 59.99% • 25%
60% to 69.99% • 25%
70% or more • 25%
Less than 10% increase • 25%
10-20% increase • 25%
20-30% increase • 25%
More than 30% increase • 25%
Yes • 50%
No • 50%
Less than $1 million • 25%
$1 million to $2 million • 25%
$2 million to $3 million • 25%
More than $3 million • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Less than 1% • 25%
1% to 2% • 25%
2% to 3% • 25%
More than 3% • 25%
Yes • 50%
No • 50%
Less than 5% • 25%
5% to 9.99% • 25%
10% to 14.99% • 25%
15% or more • 25%
1-2 • 25%
3-4 • 25%
5-6 • 25%
7 or more • 25%
