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Consumer protection is what title insurance is all about

Housing Wire

In fact, for many new buyers entering the market this year, this will be the first time they ever hear the words “ title insurance.” Against this backdrop, it is critical that new homebuyers and homeowners alike understand what title insurance is, its benefits and the importance of asking about discounts available to them.

Insurance 441
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ALTA: Protecting property rights with title insurance

Housing Wire

For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. Title insurance is different than most other insurance products. Diane Tomb, ALTA CEO Contributor.

Insurance 473
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Title insurance industry premiums spike $7B year over year

Housing Wire

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The title insurance industry generated $26.2 The title insurance industry generated $26.2

Insurance 346
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Title insurance industry volume rises 3.6% in Q1

Housing Wire

billion in title insurance premium volume during the first quarter of 2022, compared to $5.68 The title insurance industry had a record year in 2021 , generating $26.2 Top underwriters by market share for the quarter included First American Title insurance Co., with 21.5%; Old Republic National Title Insurance Co.,

Insurance 303
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Opinion: Improving housing affordability without exposing homebuyers to more risk

Housing Wire

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

Insurance 399
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Opinion: The title industry supports innovation while prioritizing protection

Housing Wire

Some vendors push alternative title insurance products that are marketed as cheaper options. The updates allow the use of unregulated title insurance alternatives in lieu of title insurance policies in limited circumstances. They claim to offer the same or a similar level of protection as title insurance.

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Lift the ban on lenders providing down payment assistance on FHA loans: Ted Tozer

Housing Wire

Through this channel, borrowers would still have to pay mortgage insurance costs – which would come down to the difference between the private mortgage insurance that the GSE loans require and the 0.55% annual mortgage insurance premium required by the FHA. Bush administration in 2004. “If