Title Insurance vs. Attorney Opinion Letters

Lilly Title & Settlement Blog · 2 years ago · 88 views

In 2022, in an effort to reduce closing costs, Fannie Mae announced plans to create a pilot program that would bypass the use of traditional title insurance. This pilot program allows mortgage lenders to rely on attorney opinion letters instead of traditional title insurance in certain circumstances. For example, if the property has a long chain of title or if the property is being sold by a government agency. But is it a good idea? We take a deeper look. #element-1dbcc8b7 [...]