WASHINGTON–The General Accounting Office yesterday issued a scathing report on the title insurance industry detailing a lack of competitiveness, regulation and questionable costs.
The report sets the stage for a hearing tomorrow afternoon by the Housing Subcommittee of the House Financial Services Committee.
The hearing will deal with “competition, pricing and recent state investigations of illegal activity in the title insurance marketplace,” according to Rep. Robert Ney, R-Ohio, subcommittee chairman.
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