Title Insurance

15 Reverse Mortgage A special type of home loan that lets you covert a portion of the equity in your home into cash. (source hud.gov) Short Sale A home being sold for less than the mortgage, with the lender agreeing to take the lesser amount to settle the loan. Title Insurer Title insurer means any company issuing title policies as insurer, guarantor or indemnitor. A title insurer must have a certificate of authority from the CDI to issue title insurance policies in California. Title Lender’s Policy Fee The fee charged for a lender’s title insurance policy that protects the lender’s security interest in the property. Title Marketing Representative An individual employed by a title insurer, underwritten title company, or controlled escrow company whose primary duty is to market, offer, solicit, negotiate, or sell title insurance. Title marketing representatives must be registered with the CDI. . Title Owner’s Policy Fee The fee paid for the owner’s title insurance policy that protects the buyer of the home; not applicable in a refinance. Title Plant A data base of organized data files with information on land and improved real properties compiled and used by title insurance companies to perform title searches. Underwritten Title Company Any corporation engaged in the business of preparing title searches, title examinations, title reports, certificates or abstracts of title upon the basis of which a title insurer writes title policies. An underwritten title company must be licensed by the CDI. .