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Lender liability: Where is it coming from and how do you address it?
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Industry News, Regulatory Updates
Friday, January 16, 2015
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Over the last few years, the term lender liability has been floated around frequently among members of the title industry. Lenders are under immense scrutiny, while at the same time trying to implement policies and procedures to comply with an ever-changing regulatory landscape. It can be unclear what is expected of title agents who want to continue to receive business from their lender clients.
During a session at the Louisiana Land Title Association’s annual convention, Marx Sterbcow, managing attorney at the Sterbcow Law Group, and Charles Cain, senior vice president and agency manager for the Midwest region at WFG National Title Insurance Co., provided some insight into why lenders are concerned about their liability, what areas they are concerned about and what agents can do to alleviate those concerns.
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