Professional National Title Network
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70 W. MADISON STREET SUITE 3500
Recent News About Professional National Title Network
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An organization which provides services to and promotes the role of attorneys in the title transfer process in real estate transactions has come under the scrutiny of state regulators, which has ordered $14 million in fines for allegedly allowing attorneys who are not registered as title insurance agents to score commissions from the sale of title insurance policies.
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A new legislative proposal would force real estate lawyers in Illinois who also serve as title insurance agents to 'choose which hat they will wear' in a home sale transaction, in a bid to reduce the typical closing costs paid by Illinois homeowners, and bring those costs more in line with the national average. But the proposal has drawn fire from lawyers and their associations, accusing supporters of the bill of unfairly 'scapegoating' lawyers for Illinois' relatively more expensive title insurance costs.
