Tag Archives: ALTA

Important for REO Sales & DIL: New ALTA Survey Standards Effective Feb 23, 2011 (revised blog entry)

By Keith Mullen on January 17th, 2011 Posted in Insurance & Environmental Risks, Market Trends, Tough Times for Lenders, Training

Effective February 23, 2011 (next month), the new 2011 ALTA Survey Standards become effective (download a copy). (Link to ALTA website and current 2005 requirements.) What could this mean for you? How is this relevant for distressed commercial real estate? REO purchasers could require a survey prepared according to these standards (in part, because purchaser’s lender… Continue Reading

Title Insurance Ticking Sound Blows UP: ALTA 21 Creditors’ Rights Coverage Ends

By Keith Mullen on February 8th, 2010 Posted in Good Times for Lenders, Insurance & Environmental Risks, Tough Times for Lenders

Last Tuesday (Feb 2), the ALTA Board of Governors met to review and discuss the creditor rights issue in light of various recent court rulings. The outcome is no surprise: they voted (unanimously) to withdraw and de-certify the ALTA 21 endorsement (commonly referred to as creditors’ rights coverage). This change will be effective on March… Continue Reading