Colorado Insurance Commissioners Not Enforcing State Law to Help Consumers Regarding Choices and Options about Title Insurance.


The Colorado Division of Insurance Commissioner has failed to properly educate and protect consumers, as well as properly regulating the business of title insurance. In fact, most if not all, of the Division’s Commissioners, for unknown reasons, have not been complying with their statutory duties as the Commissioner of Insurance, which reads as follows:

C.R.S 10-1-108 (10) It is the duty of the commissioner to encourage the dissemination to the public of general information concerning insurance by those engaged in the business of insurance, so as to work toward informed choices of insurance needs and options.

This statute includes the business of title insurance that empowers the Division’s Commissioner with the authority and duty of indirectly changing the harmful marketing practice of “Reverse Competition” that is being used by the title industry and forced upon by many real estate brokers.

Consequently, consumers are being indirectly denied access to an open and competitive market place and unable to make an informed choice for their title insurance and closing settlement services.


Closing Protection Letters (CPLs) are permitted and available in Colorado to buyers, sellers, borrowers and lenders; and surprisingly at minimal ($25) or no additional costs.  A CPL is issued by a title insurance underwriter that provides assurances and protections regarding their authorized title company/agent’s failure to comply with closing instructions and disbursement of funds to effectuate title; and against fraud, dishonesty or negligence of the issuing title company/ agent in the handling of funds or documents in connection with a real estate closing.

What is interesting and not known by many is that these CPLs are only issued when requested.  For some unknown reason Colorado title companies, don’t see the need to openly promote the availability of CPLs to real estate professionals or consumers.  On the other hand, most lenders know to request and obtain a CPL before they will ever fund a loan to a title company.

So, remember to ask your real estate professional when they order your title and closing services to request a CPL for you.

More protection is always better!


It’s an open and competitive market place for real estate commissions, mortgage loans, title insurance & closing services, homeowner’s insurance, and home inspection services, which when properly shopped can add up to thousands of dollars of potential savings.

In fact, according to data recently released by ClosingCorp, the national average closing costs (i.e., lender’s title policy, owner’s title policy, appraisals, closing settlement fees, recording fees, surveys and transfer taxes) for a single-family property totaled $3,438 excluding real estate taxes.

If your real estate broker or mortgage lender recommends a particular Title Company, always ask it they shopped and compared the services, protections and costs.

Remember, it pays to shop and compare.

Consumers, contact your Title Company before wiring money to the

Consumer Alert

Consumers don’t be scammed by fake emails and wiring instructions.

When having to wire money to a Title Company for your real estate transactions, just don’t rely on your Title Company’s or real estate broker’s email of wiring instructions, even if the email is secure.  It is important that you contact the Title Company directly to verify their wiring instructions and bank account numbers.

There have been numerous reports of emailed wiring instructions that are being hijacked; and hackers are impersonating title companies and real estate brokers with revised and erroneous wiring instructions being resent to consumers.  The FBI has reported that cyber-crime targeting home sales has exploded. The agency reports Americans lost $19 million to real estate wire fraud in 2016; a year later, the total skyrocketed to $969 million, a five-fold increase.

Remember to contact and talk directly to your Title Company before wiring money to them.

The following link to the Federal Trade Commission website will also explain how consumers are being scammed.


Understanding what is about?

First and for most, consumers and real estate and title industry professionals need to know that is not a Title Company, but an unbiased transparent educational resource about title insurance and closing settlement services.

From a consumer perspective, is about education, transparency of information, and creating an open & competitive market place of choice, which provides detailed information, so consumers can effectively shop and select the right Title Company for their real estate transactions.

From a real estate professional’s (i.e., real estate brokers, mortgage lenders and attorneys) perspective, is about a value-added resource that real estate professionals can provide their clients for their real estate transactions.

From a title insurance industry standpoint, is a “Marketing Partner” for title companies to market their services directly to consumers.