Industry News

Proposed Ohio title insurance rules get boost

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After two years of hanging in limbo, legislation requiring that Ohio home buyers be told about the protections afforded by homeowner's title insurance is now part of a faster-moving bill, the Cincinnati Enquirer reported today. State Rep. Michelle Schneider, R-Madeira, said Tuesday that the state Legislative Service Commission had, at her request, combined language from her title insurance bill to the bill that provides for swifter state enforcement of predatory lending practices, according to reports. The Financial Institutions, Real Estate, and Securities Committee approved the predatory lending bill Wednesday, reports said, with the Senate later rejecting changes in the bill and sending it to a joint committee to work out the differences. "My bill had only had one hearing, and it was going to take longer for it to become law," Schneider told the Enquirer. The title insurance industry came under an intense spotlight last year after Colorado's Insurance Division in February 2005 inv...