Tag Archives: NYSDFS Regulation 208

The Stay Allowing Certain New York State Title Insurance Industry Marketing Expenditures To Continue, Is Expiring February 1, 2018!

As a reminder, the stay concerning certain marketing prohibitions outlined in New York State Department of Financial Services (NYSDFS) Regulation 208, expires tomorrow, February 1, 2018! For companies involved with providing title insurance for residential or commercial real estate transactions in New York State, or for those who in some way interact with them, the […]

Not All Politicians Are Self-Serving Bums! But, What About Every New York Title Insurance Company?

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Despite the deluge of negative publicity surrounding the title insurance industry in New York, all title insurance companies Do Not engage in spending ‘millions of dollars to win the favor and business of clients at ballparks, Madison Square Garden luxury suites, exclusive country clubs, expensive steakhouses, even strip clubs’! Do most take (until February 1, […]

New York State Title Insurance Industry: ‘I’m Mad As Hell And I’m Not Going To Take It Anymore’!

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Update January 16, 2018: ‘The New York State Senate unanimously passed a bill Tuesday that will allow title companies to resume buying clients coffee, taking them out for lunch or treating them to a round of golf. Sponsored by Sen. James Seward of Oneonta, the bill — which now heads to the Assembly and Gov. […]

Title Insurance And Havoc In The New York Real Estate Market?

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December 19, 2017: After Regulation 208 Went Into Effect On December 18th, The Following Day NYSDFS Issued A Stay Expiring February 2, 2018 That Will Allow One Specific Activity Eradicated By The Regulation To Continue… Candidly, of all the new directives in Regulation 208 that will impact title companies, a stay on this specific one is […]

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

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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

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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 […]

New York Title Insurance Industry Prohibition Of Inducements Provided In Return For Business Delayed From December 18th to February 1, 2018

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Breaking News December 19, 2017: The NYSDFS today issued a statement delaying the implementation of certain aspects of Regulation 208, namely the prohibition on inducements being given in return for business. We’re not sure what a one month delay will do for firms in terms of compliance, but here is the statement… DFS Statement Regarding […]