Title insurers face criticism over pricing

Boston Property - The price of title insurance, a mandatory surcharge on every Massachusetts mortgage loan, more than doubled over the last decade. The average borrower last year paid about $1,500 at closing.

A chorus of critics, including state regulators and members of Congress, say the title insurance industry overcharges its customers. The industry says it offers a valuable service at a fair price, and it has opposed reforms with considerable success. But there is still an easy way to cut the cost of insurance in half.