Title Waiver Pilot Plan Won’t Help First-time Homebuyers, MBA Economist Says

March 21, 2024

During a hearing before the House Financial Services Subcommittee on Housing and Insurance, U.S. Rep. Andrew Garbarino (R-N.Y.), asked Michael Fratantoni, chief economist for the Mortgage Bankers Association, if he thought the Biden Administration's pilot to eliminate title insurance on refinances would help first-time homebuyers purchase their first home. “The short answer is no,” Fratantoni said.

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