[quote=bearishgurl]if you have purchased that same property or refied it in the last 3 years (is this still correct, HLS?), I believe you will qualify for a “short-term rate” on your ALTA title policy. This is a discount off the regular rate as they will search for liens against you or the property which were filed in the last three years only. [/quote]
There are all inclusive bundled rates available for refi transactions today that include a lender’s policy. They offer no discount due to age of policy. Seems like consumer is getting screwed.
Using an independent escrow company can cost more than using the escrow arm of a title company.
The liability is potentially huge on either policy, but very rarely does anyone ever have a claim.
Title insurance companies should be cleaning up today with all the refi activity.
Collecting $600 for a policy that is valid for 30years is one thing, but they collect the same premium for a policy that may only be in effect for a few months.
There is still much confusion about who actually owns properties in certain states. A major problem could cause financial hardship for a title insurance company.
