Agents National Unveils Quick Quote Generator for Simultaneously Issued Residential Policies

March 12, 2015

In preparation for the implementation of the new Consumer Financial Protection Bureau's (CFPB) Closing Disclosure on Aug. 1, Agents National Title Insurance Co. (ANTIC) announced the addition of a new feature to its online Quick Quote generator for simultaneously issued residential policies.

The new function provides an allocation of premium to owners and lenders policies according to the disclosure requirements for the new closing disclosure forms. 

“The new feature provides the allocation of premium to the lenders policy based on the lender-only rates, and the remaining premium is shown as owner’s policy premium,” said David Townsend, CEO of Agents National Title. “The total premium presented on the CFPB line will match the total premium presented on the risk-rate premium line.”

The new disclosures do not affect the calculation of remittance.  

Townsend said the calculator provides quotes based on Agents National Title's filed or contracted rates.  Agents should not use the calculator to provide quotes if operating in a state where filed rates or premium are defined as all-inclusive and includes charges other than ANTIC’s rates.

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