Regulatory Alerts1998-01-09 | Bulletin 98-1Added · Updated
Bulletin 98-1: Reductions of Refinance Escrow Rates to Induce Title Insurance Business
The Oregon Insurance Division issued Bulletin 98-1 to warn title insurers and agents that reducing refinance escrow rates below fully distributed costs violates state rebate prohibitions. The regulator requires all title companies to refile their escrow rates by January 31, 1998, ensuring minimum fees are not set below the cost of service. Any company maintaining a filed refinance escrow fee of less than $150 after the deadline must justify the lower rate and may face investigation for compliance violations.
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