THE OPPORTUNITY: The American Land Title Association’s (ALTA) members have a long history of protecting homeowners from threats to their property rights. In late 2015, new regulations went into effect to simplify settlement forms and make it easier for homebuyers to more clearly understand their options at closing. The direct consequence of this change for ALTA members was that title insurance became clearly documented as “optional” on closing forms for the first time in history. This “optional” classification threatened to decrease the number of homebuyers purchasing owner’s title insurance policies, putting the health of the industry at risk.
ALTA recognized a critical opportunity to support their membership through this challenge and renew public awareness of the importance of title insurance. By reinforcing the nature of the product sold by its members, ALTA could keep market share strong.