P.C.T.I.A has access to numerous approved attorneys throughout the State of West
Virginia. We can coordinate title insurance and closing services within or outside
your marketing area.
What is Lenders Insurance?
Sometimes referred to as a loan policy, it is issued to mortgage lenders. It follows
the assignment of the mortgage loan, meaning that the policy benefits the purchaser
of the loan if the loan is sold. For these reasons, these policies greatly facilitate
the sale of mortgages into the secondary market. This market is high volume, with
purchasers like Fannie Mae and the Federal Home Loan Mortgage Corporation.
The American Land Title Association, ALTA, has forms that are used throughout the
country, although sometimes modified in different areas. Basic elements of the insurance
they provide to the lender include some of the following title losses: title on
the property is not in the loan borrower; the title is subject to defects, liens
or encumbrances; unmarketable titles; land with no right of access; invalid or unenforceable
liens; the lien is not prior to any other liens on the property; and other problems...
Lenders Title Insurance protects the lending institution or owner of the mortgage,
not the homeowner or person paying the mortgage.