iTitleTransfer issues News Release sharing the truth of the monopoly of 4 title insurers controlling 90% of a $25 Billion market...while paying only 3% in claims. Over priced, unnecessary, and ripe for disruption

1. NEWS RELEASE
Scottsdale, Arizona March 4, 2022 /Business News/
iTitleTransfer Announces New Realtor-Based
SFR Ownership-Transfer Process for Cash Purchases
Announced today: iTitleTransfer, LLC provides a new transformative business process serving Realtors, Cash Buyers and
Sellers of Single Family Residential properties. The process includes all closing services essential to transfer residential real estate
cash Purchase & Sale Agreements between Buyers and Sellers.
iTitleTransfer’s proprietary transfer process provides a safe, reliable, low-cost settlement and closing alternative to the traditionally
lengthy and costly mortgage lending processes. This proprietary transfer process significantly reduces time and costs related to
Single Family Residential cash purchase and sale transactions. Buyers and Sellers should have a choice in the manner in which
they open and close cash transactions, and now, for the first time; Realtors can provide benefit of choice to their clients.
iTitleTransfer’s ownership-transfer process includes:
• Real Property Search & Examination
• Proprietary Risk Scoring
• Curative Services
• Legal Opinion
• Escrow
• Document Preparation
• eNotary and eSign
• Ownership Transfer
• eRecording
• Deed Monitoring
Two tier all-inclusive pricing is divided equally between Buyer and Seller. Realtor commissions are vigorously protected and paid
through escrow.
According to Ted Sprink, veteran title industry executive and Founder of iTitleTransfer, “our program is based on the simple
proposition of consumer choice.” When purchasing with cash, why not use an alternative ownership-transfer process designed for
cash transactions which will save time and money?” iTitleTransfer refers to traditional closings as the ‘status quo,’ in which
‘tradition’ requires unnecessary closing costs. The status-quo is a lack of consumer choice…a restriction of alternatives.
Sprink shared a key example of the status quo in the real estate industry: The consumer’s traditional mortgage lender-required
purchase of costly, unnecessary title insurance, unneeded endorsements up-sold by eager title insurance sales representatives and
excessive settlement fees are a presumed formality to establishing “clear title”.
This has been the status quo for decades. However, the fact is that according to the ALTA, property searches and examinations
reveal that 75% of SFR search and examinations reflect clear title, which renders the requirement for Buyers and Sellers to
purchase costly title insurance as unnecessary.” In other words, the requirement and cost of title insurance coupled with inflated
settlement costs, are not correlated to risk.
With regard to title insurance, Sprink noted that the title insurance monopoly of four corporate conglomerates generated $25 Billion in
premiums in 2021, yet incredibly honored only 3% of customer claims. The dark side of the title insurance industry is that title
insurance companies conduct 85% of residential foreclosures on their insured customers…who may be suffering temporary cash
flow problems, job loss, illness, relocation and/or divorce.
iTitleTransfer’s proprietary real estate transfer process, is safe, reliable, simple, inexpensive and significantly reduces closing costs
to the Realtor’s Buyer and Seller clients in the residential cash real estate market. Contact iTitleTransfer for details and pricing.
iTitleTransfer maintains offices in Scottsdale, Arizona and production facilities Dallas, Texas and Orlando, Florida.
Theodore Sprink, Managing Director 866-494-3727 tsprink@iTitleTransfer.com
www.iTitleTransfer.com