Tag Archives: the ostrich effect

No tips, please: Title closers say gratuities ban will cripple them – The Real Deal

New York State title closer compensation

This headline from an article at The Real Deal describes the situation that title closers, and by extension real estate attorney’s and title companies, in New York began facing as of yesterday, December 18, 2017! This is the day that the New York State Department of Financial Services (NYSDFS) Regulation 208 officially went into effect […]

The Ostrich Effect And The New York State Title Insurance Industry

ostrich photo

What do some title insurance companies and title closers in New York State have in common with the ostrich? It’s the unwillingness to get bad news, understand and digest its impact and then to do what’s necessary to work within the parameters of those new rules. On December 18, 2017, New York State Department of Financial Services […]