Welcome to the Oklahoma Land Title Association
OLTA is a statewide trade association representing the title insurance and abstracting industry in Oklahoma. Founded in 1907 and proudly serving our membership through regulatory and legislative advocacy, continuing education and up-to-date information in keeping with our mission to enhance and protect the industry.
What is Title Insurance?
When you buy a home, you receive a title to the property, meaning you are now the full legal owner of that property. Title insurance for real estate provides protection against loss if a covered defect is found in the title to real property. You can purchase it for a one-time premium, paid in most cases at closing.
Title insurance usually covers four types of “hidden” risks: errors, liens, ownership claims, and invalid deeds. If a claim is made against your property, the title insurance company will negotiate with the other party to settle the claim, defend you in court if necessary, pay any incurred legal costs, and satisfy any covered claims. Having title insurance can save you time, money, even your home.
What’s Happening Now
Can you use the good-faith estimate to shop mortgage prices?
Daily Herald | November 30, 2013
Under Federal law, every home mortgage borrower must be provided with a Good Faith Estimate of Settlement Costs (GFE) within three days of receipt of the borrower’s application.
CFPB’s Take on Affiliate Fees, Loans Under $100k, and Several Other Recent Announcements
Mortgage News Daily | November 29, 2013
We have 28 business days until QM is the law of the land, and even after this commentary discussed the CFPB’s policy there still seems to be a small amount of confusion out there about affiliate fees, and the 3% threshold.