National Mortgage News is reporting that title agents saw an average increase of $184 per transaction during the 2nd quarter of 2016. Citing data from First American Financial, the increases varied by state with New Mexico seeing the highest at $313 and Indiana at the bottom with a $58 average increase.
“Change is difficult, and the implementation of the new Know Before You Owe processes and forms was a challenge for title agents as well as lenders, requiring significant investments in new technology and time,” First American chief economist Mark Fleming said in a news release.
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