Jan 16, 2009

Industry Clean-Up, Part 1


Hello Neighbors,

More cleanup activities in the works. This time, Title Company changes. This just in from our friend Eden at Stewart Title:

As you may know Governor Arnold Schwarzenegger recently signed into law legislation that gives the Department of Insurance significant new power to regulate practices in the title insurance industry, including the first program in the country to register and regulate sales representatives. This legislation will have a dramatic affect on how business will be done in the future. As part of the SB-133 regulations, we are no longer able to distribute foreclosure data. As of January 1st, 2009 we will be unable to provide you with the Notice of Default, Trustee Sales, and REO information.

The premise of new regulations such as SB133 has always revolved around consumer protection. More importantly, it creates an environment of choice based on Service, Knowledge and Experience. The Real Estate Industry will continue to go through changes…Together, we will get through them.

Those of us still doing this business well, WELCOME the changes and the continued increase in regulation.

There is nothing more heartbreaking than hearing the stories we do about foreclosure, bad loans, and families falling apart from financial stress.

Thanks for sharing Eden.

- Jim


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