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House panel backs resolution opposing federal role in title insurance
Summary
The House Business Committee voted to send House Concurrent Resolution 7 to the floor after sponsors and an industry witness described federal programs they said could undermine state-regulated title insurance.
Representative John Schertz, sponsor of House Concurrent Resolution 7, told the House Business Committee on Feb. 17 that the measure was intended to push back against what he called federal overreach into state-regulated title insurance.
The resolution, Schertz said, supports keeping title insurance regulation at the state level and expresses opposition to federal programs he and industry witnesses say would allow substitutes for state-regulated title insurance. “There has been some efforts previously to undermine the current state of our state based title insurance system and erode that the title folks and myself see this as federal overreach,”…
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