The Benefits of an Owner’s Title Insurance Policy

Is Title Insurance Optional?

As part of the new CFPB rules, creditors are required to disclose the cost of a Title Insurance policy if it’s the borrower’s responsibility to pay for it. However, the charge must be listed as “optional” on both the Loan Estimate and Closing Disclosure, which might discourage homeowners from buying this protection.

So let’s talk about this word, “optional.” Yes, it’s technically optional, but for most people, owning a home is the biggest investment of their life! Don’t you think they should protect it? And by the way, creditors require their own title insurance policy. That’s how important they think it is to protect their investment.

Protection & Peace of Mind

Here’s something to consider: Title problems are discovered in more than a third of residential real estate transactions. Over the years, things like liens, easements, and subdivisions cause confusion over who has rights to the property, and the last thing the homeowner wants is drama that puts their investment in jeopardy. But when a consumer has an owner’s Title Insurance policy, these issues are known or resolved before signing on the dotted line, even things that are done illegally or without proper documentation giving borrowers peace of mind that their investment is protected for as long as they own the property.

So there’s our two cents about the value of an Owner’s Title Insurance Policy and listing it as an “optional” expense. The one-time cost for an owner’s title policy is a small price to pay for the peace of mind you gain. And the good news is we’re part of the nation’s largest family of title insurance underwriters, so we’ve got you covered.

To learn more about how the CFPB changes impact you, contact a local representative.

Announcing Ticor Title’s Spokane Operation

We are pleased to announce the opening of our new Title & Escrow office in Spokane. You’ll find us conveniently located at 1330 N Washington St, in the Rock Pointe Corporate Center Building. Thank you for choosing Ticor Title as your preferred Spokane Title Company!

Spokane Title Company - Ticor Title

National Strength & Local Feel

The growth of our Washington State operation has brought us into 19 counties including our newest location and dedicated staff of Title and Escrow experts serving the Spokane area.  The unrivaled strength of our national brand and experience of our local professionals provide the peace of mind and personalized service levels our clients have come to expect from Ticor Title.

Spokane Title & Escrow Rates

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A Better Closing Experience

When you and your clients arrive at Ticor Title in Spokane, you’ll be greeted with a smile, offered refreshments, and promptly escorted to your reserved signing room. Families are welcome as we have accommodations for children as well.

We look forward to serving you at our new Spokane location and thank you for choosing Ticor Title for your residential and commercial real estate transactions.

Where to find us

Ticor Title – Spokane

1330 N Washington St.
Suite 3525
Spokane, WA 99201
Phone: 509-327-2381
Fax: 866-846-1127

Map & Directions

CFPB [Infographic]- How the CFPB Impacts You

In October of 2015, the lending and real estate industries will be required to use new forms and new rules that were created for the purpose of protecting consumers and making financial products easier to understand and compare. The new organization that published the new regulations is the Consumer Financial Protection Bureau or CFPB.

Below is an infographic that illustrates the brief history of the CFPB, what new forms to look for, 5 things you need to know before October 2015, and how the closing calendar will be impacted.

Questions or comments?  Please share below!