A Loan Policy Of Title Insurance. It is required as part of every loan originated by members of the California Mortgage Bankers Association – or at least it should be. Title insurance is supposed to protect lenders and owners from many of the pitfalls that are inherent in the business of originating loans secured by real property and obtaining ownership of real property. This article shall explain five things that every CMBA member should know about title insurance.
Preliminary Reports -
A policy of title insurance is generally preceded by a preliminary report. A preliminary report is not a guarantee of the state of title. Instead, a preliminary report is an “offer to issue a title policy subject to the stated exceptions. . . [and] shall constitute a statement of the terms and conditions upon which the issuer is willing to issue its title policy.”
Please see full Article below for more Information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.