The U.S. Government Accountability Office (GAO) has issued a report that suggests normal competitive forces may not be working properly in title insurance markets and recommends several actions by federal and state regulators to enhance competition in these markets.

The report, "Title Insurance: Actions Needed to Improve Oversight of the Title Industry and Better Protect Consumers,"¹ finds that several characteristics of title insurance markets, and allegedly illegal activities by some who market title insurance, raise questions about the prices consumers are paying for title insurance.

The report examines (1) the characteristics of title insurance markets across states, (2) factors influencing competition and prices within those markets, and (3) the current regulatory environment and planned regulatory changes....

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