How It Works

myTitleIns.com is a FREE interactive website that automatically calculates your estimated title insurance, closing and ancillary settlement costs (i.e. estimated recording fees and applicable governmental transfer taxes) in REAL TIME. myTitleIns.com provides Users a comparative analysis of available subscribing title companies in a geographic area. In addition, a User is provided with a detailed title quote and HUD “Good Faith Title Estimate” (GFTE) for completing boxes 4, 5, 7 & 8 of a HUD-GFE. The Consumer Protection Rating "CPR" feature (available in certain states) compares and rates subscribing title companies first on a scale of 1 to 10 based on services, title policy coverages, available closing protections and then based on their estimated cost..

The Process:

This process is accomplished by the User entering into the website's application software specifically-requested information regarding the User's proposed transaction and historical public information related to prior transactions involving the subject property. Then based on the information supplied by the User, together with the publicly-filed and/or provided title insurance rates, programs and closing & ancillary services fees for various individual title companies, the website will deliver a Summary of Comparative Quotes , Estimated Detailed Quote and HUD-GFTE for the User's review. These quotes are based on standard ALTA policy types with customary endorsements and extended coverages, as well as the closing & ancillary services that are typical to the selected transaction type. Because every property is unique as to encumbrances and other interests, some endorsements may not be necessary and can therefore be eliminated from the quote, giving an "Apples to Apples Comparison" on costs. Understand that varying circumstances unique to the transaction and/or property may require additional endorsements, coverages, and services.

STEP 1

Before starting, a User may review a Summary of Comparative Quotes, Estimated Detailed Quote and HUD-GFTE in order to see and better understand the results of the estimating quoting process and format used.

STEP 2

The quote and comparison process requires Users to answer questions regarding the proposed transaction and the subject property. The basic requested information are set forth below and may vary from state to state depending on the requirements necessary in order to calculate the title rates for a particular title insurance underwriter or the promulgated rates of certain states.

Transactional type information that may be requested during the User's interview process:

Purchase Price
New 1st Loan Amount
New 2nd Loan Amount
Prior issued Owner's or Lender's Policy / Date / Policy Amounts
Number of Payoffs & Payoff Amounts

STEP 3

At this point, myTitleIns.com will automatically generate a Summary of Comparative Quotes. This summary screen offers an option of either listing subscribing title companies by their Consumer Protection Rating ("CPR") or by their total estimated cost for their title insurance premiums, endorsement charges and closing & ancillary fees. In addition, the total estimated quote will be reflected separately by seller, buyer and/or borrower costs.

STEP 4

By clicking the "DETAILS" button on the summary screen, the User will view an itemization of all estimated costs applicable to each quote for each subscribing title company. There is also an option to print a formal Estimated Detailed Quote and HUD-GFTE that can be used for presentation purposes or future reference.

Rates, Fees, and Information Used

myTitleIns.com generates all estimated quotes and comparisons by using information provided by its subscribing title companies.

The objective of myTitleIns.com is to accurately estimate and reflect all rates, applicable rules / programs, services and fees of subscribing title companies in providing their Estimated Detailed Quote and HUD-GFTE.