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How It Works

The Process:

myTitleIns.com is a FREE interactive website that automatically calculates your estimated title insurance and closing costs in REAL TIME.

myTitleIns.com provides Users an “Apples to Apples Comparison” of a respective market’s title insurance products and closing & ancillary service fees. 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 title insurance rates, programs and closing & ancillary services fees for various individual title companies, the website will deliver a summary comparison of estimated quotes 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, again giving an “Apples to Apples Comparison.” Also, 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 sample quote in order to see and better understand the summary comparison and estimated quote format used.

STEP 2

A User must create a free account with myTitleIns.com before starting.

STEP 3

The quote and comparison process requires Users to answer questions regarding the proposed transaction and the subject property. Some of these questions are set forth below. Typically, Users can arrive at answers to these questions from their own information or from an Owner's & Encumbrance Report (O&E), which title companies will usually provide at no charge.

Questions:

When did the current owner acquire the property, and what was the original purchase price of the property?
2. What was the original date of the current 1st mortgage, and what was the original amount of the current 1st mortgage?
How many mortgages are currently on the property to be paid off with this transaction?
Is the property in Foreclosure?
Note: If the property is currently free & clear ----- If there was a prior 1st mortgage, (by the current owner that had been previously been paid off) what was the date of the last mortgage, and if there was a prior 1st mortgage, what was the amount of the last mortgage?

STEP 4

At this point, myTitleIns.com will automatically generate estimated quotes and an estimated comparison summary of these quotes. This summary screen will show various title companies and the estimated quotes for their title insurance premiums, endorsement charges and closing & ancillary services and fees in ascending order by total costs, as well as, for subscribers to our services, the total respective costs for a seller, buyer and/or borrower.

STEP 5

Finally, by clicking the detailed quote request to view a Good Faith Title Estimate (“GFTE”) on the summary screen, the User may view an itemization of all estimated costs applicable to each quote for each title company that subscribes to our services. A GFTE is not available for non-subscribing title companies.

STEP 6

myTitleIns.com allows Users to save their quotes for reference at a later date. In addition, if a User is interrupted during the interview process, myTitleIns.com will automatically save the previously-entered information, so the User may complete the interview process at a later date by accessing their account.

Rates, Fees, and Information Used

myTitleIns.com generates estimated quotes and comparisons using information provided by title companies that subscribe to its services and for the non-subscribing title companies for which estimated quotes and comparisons are generated using their publicly filed rates, fees and applicable rules for regularly issued title insurance policies and regularly imposed closing and settlement charges as on file with the Colorado Division of Insurance as provided by Regulation 3-5-1, Section 5. A. Rules Regarding Rates And Fees.

The objective of myTitleIns.com is to accurately reflect all rates, applicable rules / programs, services and fees for listed title companies. If an estimated quote for a title company appears inaccurate, that title company should immediately notify myTitleIns.com of the issue using the website’s Contact Us form and may request an itemized breakdown of the estimated quote.

Listing and Information of Title Companies to the Website:

Title companies and their information listed within myTitleIns.com are based on publicly filed information and/or information supplied directly to myTitleIns.com by the particular title company. Any title company not listed may request inclusion on the website as a non-subscriber by contacting myTitleIns.com using the website’s Contact Us form, and by providing the necessary requested information, or may become a subscriber by completing the subscription process.