A Colorado Division of Insurance (CDOI) proposed rule that passed on August 16 effectively bans MSAs between title insurance providers and their real estate and other settlement service partners in Colorado.
- Colorado passed the new rule due to lack of clear direction from the CFPB.
- In 2014 the CFPB said that MSA contracts themselves are "a thing of value," which had a chilling effect on MSAs nationwide.
- The new regulation defines what is and is not permissible for title insurance providers in Colorado.
EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019