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 Title Insurance Monopoly’s Elimination of Consumer Choice
Opinion Essay by Theodore Sprink
March 29, 2023
Several days ago, ALTA promoted their tired attack on Attorney Opinion Letters, alternatives to costly and often
unnecessary title insurance, prepared by licensed real estate lawyers to review lender-originated loan
transactions for safe, reliable, low-cost closings. The GSEs purchased $3 Trillion in mortgage loans in 2021, have
authorized the use of Attorney Opinion Letters to provide consumer choice and lower closing costs.
ALTA’s ill-conceived strategy of lobbying to protect the title insurance monopoly is inconsistent with GSE Seller
Guides, approved by FFHA 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 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. ALTA, representing four corporate conglomerates that control 85% of the
title industry published a report that 75% of land title searches reveal “clean title”,
rendering title insurance unnecessary.
The clear 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 iTitleTransfer introduced an E2E Loan Closing Platform which includes
search, examination, risk scoring, curative, escrow, GSE-compliant AOL, eSigning,
eNotary, eRecording and deed monitoring, saving consumers up to 65% of
traditional closing costs. iTitleTransfer’s Loan Closing Platform 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
decision to provide consumer choice of a closing alternative to title insurance monopoly’s role in the multi-
trillion-dollar real estate market.
Lenders, loan brokers and Realtors should closely evaluate iTitleTransfer’s E2E Loan Closing Platform as a
significant benefit to their seller, borrower, and investor clients.
Theodore Sprink, Founder and Managing Director 866-494-3727 tsprink@iTitleTransfer.com
www.iTitleTransfer.com