Spitzer in Title Insurance Deal

New York Attorney General Eliot Spitzer announced a deal with two real estate title insurance firms to reduce their fees charged to New York homebuyers.

The agreement with Fidelity National Title Group(FNT Quote) and First American Title Insurance (FAF Quote) stems from an investigation into the title insurance business by Spitzer's office. Spitzer claims his office found "illegal rebates and referral fees'' in the industry, but did not file any charges against the two companies.

"This settlement should greatly benefit New York homebuyers who for too long have paid too much for their title insurance," said Spitzer, who is seeking the Democratic nomination for governor. ...