ALTA Announces New Consumer Initiative

When I opened my email this morning I was pleasantly surprised by my ALTA newsletter. The first article was an announcement that ALTA is launching a new Title Insurance Consumer Initiative. The idea is to provide more information about title insurance to consumers. As is stated in the story the impetus behind this initiative is the recent GAO Report on Title Insurance, which found that consumers were being ignored and fleeced when it came to title insurance. I am happy to see ALTA making an effort to increase consumer knowledge and power in the title insurance marketplace.

As part of the the consumer initiative they are launching a new consumer facing website, http://www.homeclosing101.org. This site is dedicated to providing detailed information to consumers on all aspects of the title insurance and closing process. myClosingSPACE.com has been attempting to bring this information to consumers since their inception and we are happy to see ALTA jump on board. Hopefully we can work together to educate consumers and get them to take the time to shop for their title company when they are in the market.

I am glad to see ALTA make a stand for consumers and hopefully this will go a long way in changing the market by making it more consumer focused and friendly. The new site offers some good information and hopefully consumers will be able to find it and take control of the closing process. If ALTA is successful in bringing more information and assistance to consumers we may be able to change the title industry for the benefit of consumers and consumer friendly title companies.