What About Those 2021 ALTA Policy Forms? Part II

(Part Two) In Part II of this article, 2021 changes to the title commitment, closing protection letters, Homeowner’s policy, extended coverage residential loan policies, short form loan policies, and endorsements will be discussed. Read Part I here. Specialty Loan Policies This group of policies had few substantive changes.  Primarily, these policies were made consistent in … Continue reading What About Those 2021 ALTA Policy Forms? Part II

USING POWER OF ATTORNEYS IN REAL ESTATE TRANSACTIONS: TIPS & PITFALLS

No one wants to be the reason a closing is delayed. Yet, issues with the power of attorney is one of the most prevalent closing hiccups and sources of delay. The purpose of this article is to provide a basic understanding of the power of attorney and give you some practice tips to help you … Continue reading USING POWER OF ATTORNEYS IN REAL ESTATE TRANSACTIONS: TIPS & PITFALLS

What About Those 2021 ALTA Policy Forms?

(Part One) After several years of review and editing, the American Land Title Association will roll out a new portfolio of owner’s and loan policies, a new title commitment, a new endorsement series (47 – Operative Law), and numerous technical amendments to existing endorsement forms to align them with the policies’ changes. This article will … Continue reading What About Those 2021 ALTA Policy Forms?

Why Does Errors & Omission Insurance Cost So Much? And, Where Does The Pricing Come From?

E&O pricing can be a mystery, but there is a method to the madness. The base price comes from you, the insured, when you list your gross revenue on the E&O application.  The more you make, the more your insurance costs.  This is because the insurance companies view higher revenue as more work and higher … Continue reading Why Does Errors & Omission Insurance Cost So Much? And, Where Does The Pricing Come From?