Proposed regulation has potential to limit brokers who own title companies

Pursuant to a proposal in the 2014-15 New York State budget that requires the licensure of title agents, solicitors and closers, the New York State Department of Financial Services (DFS) has issued proposed regulations that will potentially limit the amount of business that can be conducted between a real estate broker and his/her affiliated title company. This proposal is not limited to real estate companies and affiliates, but it is relevant to NYSAR members because they are among the business that are impacted. 

Click here to learn more and read the proposed regulations.