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The American Land Title Association (ALTA) has launched a new Homebuyer Outreach Program designed to increase consumer understanding of the benefits of title insurance. The Program provides ALTA members with resources to educate homebuyers about the benefits of purchasing an owner’s policy. The Consumer Financial Protection Bureau’s new integrated disclosures (TRD) that homebuyers receive when buying a label owner’s title insurance as “optional” on the new closing disclosure forms.
“For many consumers, buying a home is the single largest investment they will make in their lifetime and every homebuyer deserves clear information on how to help protect their property rights,” said Michelle Korsmo, ALTA’s chief executive officer. “Telling a consumer that owner’s title insurance is optional will mean that homebuyers may be dissuaded from purchasing the same protection that lenders receive from a title insurance policy. We are excited to unveil these new ALTA member-exclusive resources that help easily and clearly communicate the benefits of title insurance to homebuyers.”
The Homebuyer Outreach Program includes customizable templates, a welcome letter to the homebuyer and PowerPoint presentations for direct homebuyer communication. The Program also includes rack cards, marketing one-pagers, sample ads and blog posts for use immediately by ALTA members.
Additionally, ALTA announced the redesign of its consumer education Web site, HomeClosing101.org. The new site allows homebuyers to search for an ALTA member company in their state.