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Panel advances amendment to HB569 to require buyer acknowledgement on title‑insurance fee sharing
Summary
The subcommittee adopted an untimely amendment to HB569 that removes underwriters from an acknowledgement requirement and places responsibility with the buyer’s side to disclose fee sharing between title companies; the amended bill was advanced to the full committee (7–2).
Representative Farmer presented House Bill 569, which the sponsor said aims to increase transparency when title companies share fees. The committee considered an untimely amendment (code 15999) that removed underwriters from an earlier version and shifted responsibility so that the buyer’s side accepting payment would disclose fee‑sharing arrangements and accept liability.
‘‘It requires an acknowledgement from the consumer knowing where their money's going when they pay—to who and who's representing who,’’ Representative Farmer said. The amendment was moved by Chairman Vaughan to accept untimely filed amendments for the final calendar and then the committee voted to put amendment 15999 on the bill. Committee discussion focused on whether the amendment represented a compromise and whether it prevented current business practices, and the sponsor explained that the change removed underwriters from the acknowledgement requirement and made the buyer’s side responsible for accepting liability.
After the amendment was adopted, the committee voted to send HB569 as amended to the full committee. The clerk recorded seven ayes and two nays. The committee record includes the amendment placement and the sponsor’s explanation of the buyer‑side acknowledgement and liability shift.
The full committee will receive HB569 with the late amendment included; the hearing transcript provides the sponsor’s description and the committee votes.
