US Weighs Ban on Charging Homebuyers for Lender Title Insurance

A top US consumer watchdog is considering whether to bar mortgage bankers from charging homebuyers for title insurance that protects the lenders, ending a long-standing industry practice.

The Consumer Financial Protection Bureau’s plan is still in the early stages, according to people familiar with the matter. The agency will begin to lay the groundwork for the measure in a broad request for information on closing costs, including title insurance and other fees, that will be released as soon as this month, they said. Any final proposal on closing costs, including title insurance, would not come until 2025, one of ...