iTitleTransfer Introduces Anti-Monopoly and Pro-Costumer Choice "Alternative to Title Insurance" for a Third of the Closing Cost, Authorized by Fannie Mae and Freddie Mac, utilizing Real Estate Attorney Opinion Letters.

1. The Nation’s First GSE-Compliant E2E Loan Closing Platform
ALTA Desperately Steps Up Anti-Competition
Rhetoric and Dis-Information
Strategy Viewed as Monopoly-Driven Anti-Competition and Elimination of Consumer Choice
Opinion Essay by Theodore Sprink
March 29, 2023
Several days ago, ALTA promoted their tired attack on Attorney Opinion Letters, prepared by licensed real estate
lawyers, to review lender-originated loan transactions for safe, reliable, low-cost closings. The GSEs, having
purchased $3 Trillion in mortgage loans in 2021, authorized the use of Attorney Opinion Letters, as an alternative
to costly and often unnecessary title insurance in order to provide consumer choice and lower closing costs.
The ALTA’s ill-conceived strategy of lobbying to protect the title insurance monopoly is inconsistent with GSE Seller
Guides, approved by FHA and HUD, to accept AOLs in the underwriting and purchase of mortgage loans. Lenders,
loan brokers, Realtors and borrowers should look closely at AOLs, as a safe, reliable, and low-cost alternative to
title insurance.
Title insurance industry revenue in 2021 was $26 Billion, dominated by a
monopoly of four corporate conglomerates, paying less than 3% in consumer
claims. The American Land Title Association (ALTA), the title industry’s lobbyist,
published a report that 75% of land title searches reveal “clean title”, rendering
title insurance unnecessary. The implication: There is no correlation between
price and risk in the use of title insurance. And there exists a general view that a
lawsuit is required to enforce title insurance coverage.
In 2021 and 2022 Government Sponsored Enterprises (GSEs) Fannie Mae and
Freddie Mac authorized Attorney Opinion Letters (AOLs), prepared by
professional real estate lawyers, as an alternative to costly and often unnecessary
title insurance. Mortgage Lenders requested the alternative. GSEs operate as a
source of liquidity for mortgage lenders (Seller Banks), having purchased $1.3
Trillion in mortgage loans last year.
Providers of the GSE-compliant AOLs provide a safe, reliable, low-cost disruption
to the title insurance monopoly’s 100% market share, saving consumers up to
65% of closing costs. This is particularly important to DEI and first-time home
buyers struggling to qualify and make monthly loan payments.
In recent months ALTA has demonstrated desperation to prevent competition
proposed by the GSE-authorized alternative, evidenced by political rhetoric, dis-information and falsehoods designed
to denigrate AOLs. ALTA has demonstrated a frightening lack of understanding of the substance of current and
popular AOLs.
To propagate the monopoly, ALTA recruited two Congressmen (out of 535 members) to influence multiple
Federal Agencies to eliminate the GSE-authorized alternative to title insurance. The GSEs are steadfast in
their concern of a monopoly’s role in the multi-trillion-dollar real estate market, and ALTA’s
repeated public statements to terminate competition, low cost, and consumer choice.

2. Theodore H. Sprink www.tsprink.com Page 2
Theodore Sprink, Founder and Managing Director 866-494-3727 tsprink@iTitleTransfer.com
www.iTitleTransfer.com