It would appear to me that an owner's title policy is a settlement service under RESPA and would be covered, whether the service is required by the lender or not.
1024.15(c) Definitions. As used in this section:
Person who is in a position to refer settlement service business means any real estate broker or agent, lender, mortgage broker, builder or developer, attorney, title company, title agent, or other person deriving a significant portion of his or her gross income from providing settlement services.
1024.2 Settlement service means any service provided in connection with a prospective or actual settlement, including, but not limited to, any one or more of the following:
(4) Provision of title services, including title searches, title examinations, abstract preparation, insurability determinations, and the issuance of title commitments and title insurance policies;
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The opinions expressed here should not be construed to be those of my employer:
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