The American Land Title Association (ALTA) celebrated its sixth consecutive year of all-time record membership. With more than 6,000 member companies, ALTA has surpassed its 2014 membership record by more than 600 companies.
“Our sustained record membership growth is a tribute to the high level of professionalism and standards that companies in the title insurance and settlement services industries strive to provide consumers, Realtors, lenders and others involved in real estate transactions,” said Michelle Korsmo, ALTA’s chief executive officer. “As the protectors of property rights, ALTA members seek high standards of accuracy and have access to an assortment of resources to help them provide quality service and differentiate themselves in the marketplace. We are excited to work with our new and current members. As the industry adjusts to the new real estate closing process due to new regulations from the Consumer Financial Protection Bureau, we look forward to continuing to be an educational resource for our members. From our Best Practices framework that helps protect lenders, consumers and the integrity of the real estate transaction to our tools to educate consumers about how owner’s title insurance protects their investment, we listen to our members and deliver needed products.”
ALTA’s membership includes title insurance companies, title and settlement agents, abstracters and real estate attorneys. The majority of these members are small business owners that rely on the variety of services and benefits that ALTA provides.
Economic benefits of the land title industry:
►Collects $4.75 billion each year in back income taxes
►Recovers $325 million each year in unpaid child support
►Employs more than 107,000 people supporting nearly 223,000 jobs
►Produces $26 billion in goods and services each year
►Pays almost $8 billion in wages each year