Driven by their passion for protecting homebuyers, members of the American Land Title Association (ALTA), the national trade association of the land title insurance industry, are innovating and adapting quickly to ensure safe real estate transactions during the COVID-19 pandemic.
These protective measures include:
– Offering new and inventive ways to refinance or close on a real estate transaction, including using drive-thru closings, digital closings, remote online notarization (RON) and remote ink-signed notarization (RIN)
– Educating everyone involved in a real estate transaction, from lenders to REALTORS® to consumers, about the dangers of phishing scams and real estate wire fraud, and using advanced technology and safety protocols to ensure wire transfers are secure
ALTA offers a comprehensive COVID-19 resource center on its website. Information in the resource center includes fraud watch, state RON orders, recording jurisdictions operating status and information about financial assistance for businesses.
Additionally, during the COVID-19 crisis, ALTA members are donating time and resources to people and organizations in need, from making face masks and care packages for first responders to donating to local food banks and supporting local businesses. Read about a number of ALTA members’ #GoodDeeds on ALTA’s blog.
“Protecting consumers remains the title insurance industry’s top priority,” said Diane Tomb, ALTA’s chief executive officer. “Throughout the pandemic, ALTA members across the country have been delivering for people and organizations in their local communities. From making face masks to donating money to local restaurants and helping the homeless, the response by the title insurance industry has been inspirational. In addition to the countless ways in which ALTA members are donating and volunteering, they also have come up with innovative and safe ways to continue to make the American dream come true. From drive-thru closings to offering remote online notarization, the dedication to their customers is allowing families to close on new homes or take advantage of the low-interest rates by refinancing their mortgages. ALTA members and the title insurance industry have always cared deeply about the communities in which they live and serve. The more than 120,000 title professionals across the country take pride in protecting their customers by ensuring that their home is theirs when they make one of the biggest financial decisions of their lives.”
Learn more about ALTA members’ efforts in this new video.