06/23/26
How Lenders Can Help Keep Closings on Track
When others in the industry put a spotlight on the importance of the products we offer, it makes us smile. That’s why this Q&A about the importance of title insurance published by the Mortgage Bankers Association caught our eye. It’s full of great information for anyone wondering why title insurance is so essential, and we especially wanted to highlight it for our loan officer friends.
Thank you to our fellow title insurance expert, Chris Porto, for providing insight into ways lenders can help their borrowers understand the importance of both title insurance and choosing the right provider for it. Here are some of our biggest takeaways.
Finding the right title partner makes all the difference. For lenders, title insurance should be more than just another line-item closing cost. After all, an owner’s title insurance policy is a critical safeguard that protects both the property owner (your borrower) and the integrity of the transaction. By understanding how title insurance works and working closely with experienced title professionals, lenders can help ensure a smoother and more predictable closing experience for their borrowers.
Buyers don’t understand the concept of a one-time premium. As a fellow real estate professional, you likely understand that an owner’s title insurance policy only costs a buyer once during closing, but the protection it provides lasts a lifetime. However, that’s not how most insurance works. That’s where our transaction partners need to help us push back on misconceptions early. Another myth we could use our lending friends to help with? The idea that a lender’s policy is enough when it comes to title insurance.
You can help us speed up the process. Our teams don’t expect you to be title experts. That’s our job. However, if you or the real estate agents involved in the transaction can obtain a copy of the property’s previous title insurance policy, that could help speed up the process. In addition, if you’re asked about costs or timeframes, don’t give an answer unless you know for sure. Often, incorrect information can add to confusion about how the title works, and that’s the opposite of what we’re trying to do.
We are committed to educating about the importance of title insurance, and we hope this blog was helpful. If your clients – or you – ever have specific questions about anything related to title or settlement, our trusted teams are here to help. Reach out anytime!