New RESPA rules:An End to being forced to use sellers pick of title company?

By Dennis Norman,on April 3rd,2009

Dennis Norman

By:Dennis Norman

I don’t like being told what to do;Particularly by a seller of property I’m purchasing.  However,for years I have been told by agents with REO listings that if I don’t use the title company the seller has selected then the seller won’t sell to me.

Thanks to the new RESPA rules my anguish may be over. 

The new RESPA rules prohibit sellers from offering incentives for using (or disincentives for not using ) a preferred or affiliated title insurance company,mortgage company or other affiliated settlement service provider.

Hopefully these new rules will help give you,the investor,the right to choose the companies you wish to deal with when purchasing a property.

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April 3rd,2009 | Tags:REO,respa | Category:Market Information &News,Special Posts

1 comment to New RESPA rules:An End to being forced to use sellers pick of title company?

• erik martinez

  September 6,2010 at 5:29 pm ·Reply

  would like information on the new Respa Rules:and end to being forced to use sellers pick of title company.

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