Great news for local title and escrow offices!
On Monday, October 12, 2009 Governor Schwarzenegger signed AB 957, The Buyer's Choice Act.
The Buyers Choice Act allows by law the buyers of REO properties to choose the title and escrow company. The banks and asset managers no longer can direct your buyers to title and escrow companies of their choice.
As you have seen and with many conversations I have had with customers, not being able to direct your transactions results in higher fees, more liability and a general lack of what this business is based on..... customer service.
Take action and protect your REO buyers with this law. The Governor felt this was so important that the law was made an urgent measure and became effective Monday, October 12, 2009.