IAILTA is an Indiana non-profit corporation consisting of independent title insurance agents and interested real estate settlement services industry stakeholders from across Indiana who share a common philosophy about the value of independence and autonomy in real estate transactions.
What does IAILTA stand for?
IAILTA members believe that the title insurance industry has been degraded by the legal and illegal affiliations which exist between title agents and their title business referral partners — lenders, mortgage brokers, real estate agents, real estate brokers and builders. Those relationships have undermined the value of title insurance in Indiana, harmed a consumer’s right of choice in the real estate settlement process and virtually eliminated fair competition in our industry. Instead, IAILTA members are those title insurance agents and interested real estate settlement services industry stakeholders who advocate for fair competition in the title insurance industry and transparency in the real estate settlement process.
IAILTA members are small business owners, real estate entrepreneurs and title insurance professionals who either operate title insurance businesses and related real estate settlement services as independent entities without controlled business arrangements or who support the philosophy of an independent title insurance industry.
IAILTA members believe that truly independent title agents and agencies help make title insurance costs more competitive, help lower title insurance claims, and help protect the ultimate consuming public from real estate-related litigation.
IAILTA advocates for the advancement of professional licensing standards for title abstractors and title examiners in Indiana. Currently, there are no such standards in Indiana, yet the title search – the product of a title abstractor’s labor – is at the heart of the title insurance industry. IAILTA also seeks to define and standardize the practices of title examination so that non-licensed persons or persons otherwise prohibited by law will not engage in the practice of title examination without a license and within the confines of a normalized standard of conduct.
IAILTA believes that minimum title search standards are necessary as part of our broader mission to improve competition and reduce risk within the title insurance industry. It is now widely known that national title insurance underwriters have steadily reduced the minimum title search standards within the title insurance industry through the advent of short search products and offshore title search production. IAILTA seeks to enhance consumer protections by advocating for the codification of minimum title search standards in Indiana.
What is IAILTA doing for independent title agents, independent real estate settlement service providers and the ultimate consuming public?
IAILTA promotes fair standards regarding title insurance in Indiana and advocates for the advancement of issues relevant to the independent settlement service provider. We also support favorable initiatives relative to the independent title insurance and independent real estate settlement service provider movements in Indiana.
What can you do to support us?
Get involved. Join our organization. Become a member today. Read our blog and keep aware of important issues that affect the title insurance industry and real estate settlement services industry in Indiana and the nation. Tell your friends in the industry about us. If you are concerned about your place in the title insurance industry or the real estate settlement services industry, you should be a part of our organization!