Washington–The Government Accountability Office (GAO) has launched an investigation into pricing and anticompetitive practices in the title insurance industry at the request of the House Financial Services Committee.
Panel Chairman Rep. Mike Oxley, R-Ohio, requested the investigation in late January, according to a copy of the letter placed on the committee Web site recently.
The congressional inquiry follows probes by state regulators in Colorado, California, Florida, Hawaii, Michigan and, late last month, New York into alleged title insurance company kickback payments for referrals from developers, mortgage lenders and real estate agents.
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