American Land Title Association Statement on the State of the Union

January 29, 2014

ALTA's Press Release In Response to the President's State of the Union

Washington, D.C., January 29, 2014 — The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement today from CEO Michelle Korsmo in response to the President’s State of the Union address last night:

“ALTA agrees with President Obama that the most important investment many families make is their home,” said Michelle Korsmo, ALTA’s chief executive officer. “Ensuring the dream of homeownership for all Americans is imperative to the success of our economy and nation. ALTA’s nearly 4,800 member companies stand ready to serve as a resource to the President and members of Congress as they work on housing finance reform this year.

“While ownership of a home may seem very straightforward, the rights to enjoy a property aren't always as clear. We must continue to make certain that mortgages are insured by a title insurance company as an important risk management standard for all real estate transactions. An owner’s title insurance policy can help homeowners on potential issues that could impede a property owner’s rights. Only an owner's title insurance policy fully protects the homebuyer should a covered title problem arise.”