There’s always something to howl about.

Are Our Customers EnTitle-ed To Better Fees?

Admit it.  You’ve wondered if there was a lot of fat in title policies, didn’t you?  I mean, how many claims does a title company REALLY get in this “nobody trusts anyone” market?  We order a title commitment and the title company:

  • performs a detailed search of the property’s chain-of-title
  • mitigates most any risk
  • insures the title and earns an insurance premium.

One would think that this highly-regulated, extremely commoditized business would file premiums within cents of each other, right?

I received a direct mail piece from EnTitle Direct today.  They are a national title insurance company (the old Guardian Title):

ENTITLE DIRECT is the only title insurance company that markets and sells directly to consumers at 35% savings. We combine 30 years of experience and stability with a consumer-friendly approach and provide you with significant savings on title insurance, the ability to control your own closing, and transparency throughout the closing process.

I was curious so I got a quote for a $400,000 refinance transaction:

  • $500.00 escrow fee (about $100 more than the local folks)
  • $357.50 for a title policy (endorsements not included)

I ran the CLTA Title Wizard to comparison shop.  Local escrow fees are about $400.00 so the locals are winning, at this point.  Let’s see what the locals offer for title policy premiums:

  • Commonwealth $1, 045
  • Ticor $1,045
  • Placer $675
  • Orange Coast $625
  • Stewart $675
  • Provident $800
  • Old Republic $800
  • Chicago $1045
  • FATCO at $605

What am I missing here, gang?

I think someone may have just figured this game out.  Any comments or experiences with EnTitle Direct are appreciated.

PS:  EnTitle Direct claims to be a member of the California Land Title Association (CLTA) but its quotes don’t show in the CLTA Title Wizard.  Either the CLTA charges extra to be quoted on Title Wizard, EnTitle Is being less than forthcoming about its professional memberships, or I need to get my tin-foil hat out.