Do you feel like you are drowning in alphabet soup? Acronyms have become common-place in the title insurance industry. In fact, acronyms have come so far that there are acronyms of acronyms! One of the newest is TRID, an acronym for TILA-RESPA Integrated Disclosure Rule. Some acronyms are part of an industry group or association, such as ALTA, NAHB, DOI, or DFR; sometimes an acronym may describe certain standards. There are so many acronyms that it can be confusing and certainly overwhelming. The table below contains some of the industry’s most commonly used acronyms and their meanings.
Homeowner’s have many options to consider when determining the best possible protection to keep their homes safe and secure for their families. Many homeowners choose to install smoke alarms, deadbolt locks, and home security systems as important lines of defense to ensure their peace of mind. An Owner’s Policy of Title Insurance is also an option homeowners choose to provide an added layer of security and protection. Your home may be new to you, but every property has a history. There may be hidden issues in the chain of title which could affect your ownership, such as: Errors in Public… read more →