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Which government agency will first announce a policy to reduce title insurance costs for mortgage refinancings by end of 2024?
2
Resolution / Starting Odds
Department of Housing and Urban Development (HUD) • 25%
Consumer Financial Protection Bureau (CFPB) • 25%
Federal Housing Finance Agency (FHFA) • 25%
Other • 25%
Official announcements from the respective government agencies
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.
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Yes • 50%
No • 50%
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Department of Transportation • 25%
Department of Housing and Urban Development • 25%
Other • 25%
Company A • 25%
Company B • 25%
Company C • 25%
Company D • 25%
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FTC • 33%
FDA • 33%
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No • 50%
1-2 • 25%
3-4 • 25%
5-6 • 25%
7 or more • 25%
Georgia Department of Human Services • 25%
Georgia General Assembly • 25%
Federal Government • 25%
Other • 25%
SEC powers reduced • 25%
OCC powers reduced • 25%
CFPB powers reduced • 25%
No changes • 25%
FDIC • 25%
Treasury Department • 25%
A new agency • 25%
Other • 25%
Lender A • 25%
Lender B • 25%
Lender C • 25%
Other • 25%
Department of Justice • 25%
Federal Reserve • 25%
Securities and Exchange Commission • 25%
Other • 25%