No more MSAs: Colorado boldly goes where CFPB has yet to tread

  • 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.

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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.