Since the early months of 2017, there have been several changes in the title insurance industry. From new studies offering industry insight, to updates in regulatory activity, many changes have transpired between technology and real estate. In taking a closer look at the industry advancements of last year, we can better understand the important changes and contributions to title insurance in 2018.
As we progress into the start of 2018, the need for consumer title insurance education continues to grow. This much needed measure has finally evolved into something that people both prefer and discuss in 2017. The goal for this is to continue informing people of this measure as a necessity in real estate for 2018, especially first-time homebuyers. Many of these individuals are completely unaware that mortgages involve closing costs, and several surveys have been conducted that show just how vulnerable and uniformed these novice home buyers are.
Regulatory Changes Come And Go
Although it is a continuing cycle with a new business driven administration in the White House, regulations in the industry are finally seeing a significant shift. These new actions being taken have led states to see noticeable changes in policies surrounding title insurance. Despite the fact that many large obstacles remain for homebuyers and sellers alike, the positive point is that the industry is continuing to improve into 2018.
Notable Legal Progress
While their cases and regulations may be lesser known or discussed, there are specific courts that address landlord tenant issues as well as title defect issues. From residential to commercial, real estate litigation is a vast industry that is continuously changing. Being informed on all the latest changes is especially vital for any homebuyer or title insurance company.
Industry Technology Moves Forward
In the end, 2017 was not only another year of major advancements in the technology industry, but also one of technological advances in the real estate world. More transactions were completed digitally in 2017, and eMortgages became a viable option for homebuyers.
A Title Insurance Company You Can Trust: Colony Title Associates
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy and sell your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.