The American Title Insurance Industry: How a Cartel Fleeces the American Consumer

Eaton is Professor Emeritus of Economic and Social Development Studies at the University of Pittsburgh.David J. Joseph W. Eaton is Bess Harris Jones Centennial Professor of Natural Resources Policy Studies at the University of Texas at Austin.

“A work that provides newly detailed history and analysis of title insurance, a little-studied industry.”-Library Journal

Five Stars William Walton good introduction to the subject. "How the Title Industry bilks every homeowner in America in almost every state in America" according to PlatoFromTexas. This is an excellent book informing the American consumer how he is being fleeced by the title insurance industry.In many states thousands of dollars are charged for a title policy when a home is purchased.As the author peels off some of the mystery behind the title process, it becomes apparent that the consumers combinedignorance and lack of will to demand a change has resulted in a very unfortunate situation where we are being bilked tothe tune of billions of dollars. Unfortunately in many states. "Broadstrokestoo broad for meaningful discourse" according to A. Anania. 1. I am positive there are abuses taking place in the industry2. State regulation and pricing are WIDELY varied. Having purchased homes in Indiana, title insurance was cheap, efficient and valued. The same cannot be said in Texas. The cost is ABSOLUTELY BURDENSOME.Broadstrokestoo broad for meaningful discourse 1. I am positive there are abuses taking place in the industry2. State regulation and pricing are WIDELY varied. Having purchased homes in Indiana, title insurance was cheap, efficient and valued. The same cannot be said in Texas. The cost is ABSOLUTELY BURDENSOME.3. Reform and greater oversight are absolutely required.Having worked outside the US in real estate, the author must address the comparative costs of home acquisition in the US compared to other countries. Though a consumer is charged for. . Reform and greater oversight are absolutely required.Having worked outside the US in real estate, the author must address the comparative costs of home acquisition in the US compared to other countries. Though a consumer is charged for

Yet details about the industry’s operational procedures remain closely guarded from public exposure.In The American Title Insurance Industry, Joseph and David Eaton present evidence that improvements in recordkeeping over the last sixty years—particularly the advent of computers—have reduced the likelihood of a defective title going unnoticed in a property transaction. Over the past sixty years, the title insurance industry has grown steadily in size, power, and secrecy: policies are available for both lenders and property owners and many title insurers offer an array of other real estate services, such as escrow and appraisal. After World War II, banks and other mortgage lenders began requiring insurance to protect them against flawed or defective real estate titles. Among the findings in this meticulously researched study are instances of insurers charging premiums well above the amount necessary to compensate them for assuming th