MA H1099

Creates new Chapter 175N "Title Insurance Law" to prohibit lender's title insurance from being charged to homeowners who refinance their mortgage through the same lender, requiring insurers to continue existing coverage at no additional cost

Requires title insurance companies to file quarterly rate statements with the Commissioner of Insurance and Attorney General by January 1, April 1, July 1, and October 1, with a $500 fine per violation for late filings

Establishes a "reissue rate" of 50% of the basic rate for properties previously insured within the past 15 years, and mandates clear written disclosure of all title insurance costs, premiums, and fees to buyers at or before closing

Requires written notice to prospective buyers that their transaction may qualify for reduced rates or waived purchase requirements under the new law

Imposes fines of up to $500 per violation for willfully violating any provision or providing false/misleading information affecting rates or premiums