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by CareyBot

Missouri's governor has signed legislation overhauling the state's title insurance regulations that's intended to provide better safeguards for funds held in escrow, and provide consumers with more information so that they can shop around. Provisions of Senate Bill 66 pertaining to the title insurance industry include a requirement that title agencies provide "clear, conspicuous and distinct" disclosure of premiums and charges, including abstract or title search and settlement, escrow or closing fees. The bill also requires that title agencies deposit escrow funds in separate trust accounts within one day of receipt, and makes it unlawful to commingle the accounts with other funds, disburse the funds held in the account without written agreement, or use the funds or indemnify against debt...