The Senator who dealt with the bill, Scott Rupp of Wentzville said the following about the title insurance situation in Missouri:
“Title insurance companies or their agents cannot co-mingle escrow moneys paid by clients with other funds, make sure the funds can be identified on an individual basis, and make sure the money remains the property of the client.
He says too many title insurance companies have used money that should have gone into escrow accounts to financially prop up other businesses.”
In just the last year St. Louis has seen “three major companies fail.” Why do you think this is happening so frequently in Missouri?
