“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
– Mark Twain

  • Inflation and Interest rates. The topic dominates the dinner table and water cooler conversation. Everything is getting more expensive, and in specific industries, the cost continues to rise when arguably there should be an actual reduction. Nothing is more accurate when focusing on the closing costs of purchasing a home or refinancing an existing mortgage.
  • The American Dream of buying a home is getting more and more difficult. Property values are rising at a faster rate than income. Interest rates have risen, and even though actual statistical losses by Title Insurance Underwriters losses have remained relatively flat for the past x years, the premiums continue to increase at alarming rates.
  • Fact: Title insurance claims are approximately 3%, compared to auto insurance claims, which have a 45% claim rate!
  • Historically, homeowners have had few options, finding themselves at the mercy of accepting title insurance closing fees with a shrug of the shoulders, believing there is no option.
  • Until now.

    Fannie Mae, Freddie Mac, FHA, and the VA (aka GSE’s) have officially approved Insured Attorney Opinion Letters as a viable alternative to traditional American Land Title Association Title Insurance Products. These institutions play a critical role in protecting and preserving the nation’s housing finance system.


    By approving Insured Attorney Opinion Letters as an alternative Ownership and Lender Insurance Policy for purchases and refinances, homeowners now have options and a real opportunity to reduce insurance premiums by hundreds, if not thousands, of dollars, depending on their loan amount and state.

What is an Attorney Opinion Letter?

Traditional ALTA insurance products remain a viable option. Historically, ALTA has promoted the idea that their insurance product was the only option, keeping homeowners uneducated about alternatives. This is no longer the case.

Unlike the traditional ALTA Owner and Lender Policy, an "AOL" (Attorney Opinion Letter) is an insurance policy reviewed by a local real estate attorney with intimate knowledge of state-specific statutes and local customs. This review ensures that your property meets the criteria for an insured Owner and Lender Policy, providing protection for both the homeowner and lender against potential title claims during a home purchase or refinance.

Concerned that involving an attorney will slow down the approval and closing process? The answer is no. In fact, the title examination, review, and approval process is more efficient and streamlined.

Curious about your potential savings? (Click here for a state-by-state insurance premium comparison between the traditional ALTA and Insured AOL policies.)

Ask your lender or realtor for a ATG / ATGPlus. Insured Attorney Opinion Letter instead. Avoid high closing costs.

ATG / ATGPlus. Highlights:

  • Nationwide Average reduction of 55% Purchase 37% Refinance.

  • Residential and Commercial.

  • Up to $ 1m.

  • Coverage for the Life of the Loan (Lender and Borrower).

  • Flat Rate Policy regardless of loan amount or geolocation.

  • Includes FRAUD COVERAGE.

FAQ

What is an Attorney Opinion Letter (AOL)?
An attorney opinion letter, also known as a title opinion or opinion of title, is a legal document provided by a qualified state-specific real estate attorney. The AOL offers a professional analysis of a property's title records, identifying potential issues or defects. It concludes with the attorney's determination the title is clear and marketable, thereby assuring buyers, lenders, and other parties involved in the transaction that the real estate transaction may move forward, and an insurance policy designed to indemnify the homeowner and lender against potential losses arising from title defects, further protecting their interests
Title insurance is indemnity insurance that protects against financial loss from defects in the title to real property and the invalidity or unenforceability of mortgage loans. It is commonly used in real estate transactions to protect the buyer and the lender.
Both the homeowner and lender can rest comfortably knowing their insurance policies are backed by an A-rated underwriter, as rated by AM Best.