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ALTA Id# 1161960
Southwestern Abstract & Title Co., Inc.
Gricel Chavez
gchavez@swatlc.com
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Updates to Policy Forms Licensing Program
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Dear Gricel,
As a leader in the title insurance industry, you understand the importance of revising your fee structure to reflect the changing economic market. After a thorough review, ALTA has decided to recalibrate the fees for the Policy Forms Licensing (PFL) program. Since the program was established in 2009, the fee structure has remained the same. Starting Dec. 1, 2023, the new fee structure will be:
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Cost for entities with 50 or fewer transactions
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PFL for entities with less than $1,000,000 in title revenue
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PFL for entities with more than $1,000,000 in title revenue
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ALTA strives to provide you with the highest value and the best possible experience. Additional funding will enable the association to continue to serve you at the highest level. Beyond the many benefits ALTA provides its members, the association also works on behalf of all title professionals with regulators and legislators on Capitol Hill to ensure you can conduct real estate transactions in a safe and efficient manner.
While Fannie Mae confirmed it is no longer pursuing the title waiver pilot program it had under development, the GSEs are accepting certain attorney opinion letters (AOLs) in lieu of a title insurance policy “in limited circumstances.” As title professionals we understand that a comprehensive title insurance policy is the best way to protect property rights and offering unregulated title products introduces significant risk to consumers and lenders.
Currently, ALTA is advocating for a bipartisan bill in Congress, the Protecting America’s Property Rights Act, that requires title insurance be issued by a state licensed and regulated title insurance company on all loans purchased by Fannie Mae and Freddie Mac.
As the industry grows and changes, it’s more important than ever to ensure ALTA has the necessary resources to continue to serve the title insurance industry. Thank you for your support.
Cordially,
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 | Jack Rattikin III
ALTA Immediate Past President
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