Foreclosure Update: Get the Facts, Share the Facts

November 3, 2010

When several lenders halted foreclosures and the sale of real estate owned (REO) properties due to possible flaws in documentation used in the foreclosure process, questions were raised about the validity of title to properties that had been foreclosed and resold. ALTA worked immediately with regulators and lenders to bring certainty back to a chaotic situation. Read on to get information on ALTA’s response, FHFA guidance and indemnification. ALTA has also provided a comparison of the foreclosure process in judicial and non-judicial states, timeline involving the judicial foreclosure process and information about right of redemption after a foreclosure sale.

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents. SoftPro is the nation's leading provider of real estate closing and title insurance software. With more than 14,000 customer sites and over 60,000 users nationwide, this award-winning software offers a suite of products designed to increase your volume and revenue by reducing the time it takes to do closings. SoftPro has been recognized by the American Business Awards every year since 2007 - winning awards for Superior Customer Service, Support and Product Development.