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Union Planters Corp. (UPC) Message Board

  • sebanks sebanks Aug 6, 1998 10:49 AM Flag

    Anyone interested in increased earning

    Interesting post on TRMK thread (msg. 274) about
    banks selling title insurance. As I understand the law
    and practice of some more aggressive banks, Fed.
    regs. allow banks to establish an agency relationship
    with a title co. and sell title insurance to its
    customers. As common practice presently, banks require a
    title certificate and title insurance on a real estate
    loan: lawyer does title opinion(charges fee) and also
    sells the client a title insurance policy(receiving a
    commission from insurance company). If bank establishs an
    agency(also may own 24.9% of company-?) with a title
    insurance company, the bank can cut the lawyer out of the
    sell of the title insurance policy. No extra expense
    to custumer, just reaching into lawyer's pocket for
    the benefit of bank shareholder. A bank the size of
    UPC, one is talking about million$. Worth looking into
    UPC mgnt.!!!

 

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