Title Industry Benefits
The title industry is an important part of every American’s life. It may seem like a grandiose claim, but the work we do benefits not only each individual policyholder, but the nation as a whole. Here are just a few examples of how our country and the people in it benefit from the actions of the title industry.
We protect children’s well-being
By collecting $325 million in past-due child support annually, we enable children to be properly cared for.
We protect people from unseen dangers
We work with law enforcement to prevent and apprehend people committing fraud through real estate transactions. Stewart Title provides alerts to our partners on Specially Designated Nationals, as well as fraud and closing alerts using information from the government to help prevent criminals/terrorists from purchasing real estate.
We protect people’s investments in their home
Over half of all real estate transactions have a problem somewhere in the chain of title. We find these issues and assist in taking corrective action to enable the transactions to go through.
Our protection provides peace-of-mind that helps boost the economy
We provide assurance to homeowners that they can’t simply lose their title because of covered claims; as well as assurance to lenders that their investment is protected, thus allowing homeowners to unlock the value of their homes.
We directly help boost the economy by making real estate transactions more efficient
By saving consumers $10 billion annually in interest cost through timely closings, we put those dollars to work in the hands of the American homeowner. We expedite the closing process and save consumers and the real estate industry $1 billion a day.
We help strengthen our nation We collect $1.75 billion in delinquent federal taxes annually, lessening the tax burden for everyone.
The title industry is an integral and vital part of our country’s real estate market that benefits us as individuals and as a country.
Source: ALTA, August 2008.