Yes, they started doing this when anyone decided not to continue insurance with a company they got most of their membership subscriptions from. If you have been through what I am talking about you will understand what insurance company I am talking about. I used to have E & O Insurance with a certain company and it was reasonable. But to get this insurance I had to be a member of ALTA and pay their membership fee, or this insurance company would not cover me. The ALTA membership fee and the E & O together were still a little less than E & O coverage elsewhere. When the E & O premiums with this company started rising, and I shopped around , I found another company that was cheaper and went with it several years ago. As soon as I didn't renew the ALTA membership I had been forced to purchase, to get my E & O, I started getting letters about the license fee, for the forms that ALTA claims they own. Furthermore, they said they would tell my underwriter and eventually there will be court action. Quite a few people got these letters, as soon as they went elsewhere for insurance.
Now strangely enough, if you never were a member of ALTA, and continue to use the forms in your settlement business, whether you are a Title Agent, or and Attorney, you never got these strong handed letters, because they are only attacking previous members, that didn't pay to renew as ALTA members. These letters were also sent to Abstractors, that also went to other insurance carriers, and hence did not need the ALTA membership. Plus, the Abstractors didn't use the ALTA forms to begin with!
Just another strong handed form of big brother trying to push the little person around in in the middle of a depression!! I'm sorry but the memberships and what these groups perceives as mandatory for us little working people to do, may not be much money to them, but it can equate to a house payment, food on the table , or just staying in business for the working person!!!
If you don't believe me, take a look at another tactic going on in Virginia right now. VLTA is trying to make all the Virginia Abstractors take a $600 course to be certified by the VLTA as an abstractor no matter how long you've been in business???? There is no grandfather clause, and there is no law for this!!! They have come up with this idea, and are telling the companies they should not have uncertified abstractors (meaning abstractors that have not taken the VLTA'S course) do work for them. So if you choose to pay your house payment, eat, send your kid to school, etc., and not pay the VLTA their extortion money, you will be put out of business, by the very group that is supposed to be supporting the abstractors...
Hey, don't worry, they also are saying the Title Agents, you know all of us that are already licensed by the State of Virginia, and not grandfathered in the VLTA's eyes, that we too will have to be certified. This VLTA course will only cost $760.
OH, and don't feel left out if you are not in Virginia, this dog and pony show is going on the road. They say this circus will be multi-state before long, and coming into your neck of the woods, where ever you are in the US before long!! Lucky you, bet you can hardly wait to spend your hard earned money, and to think it is not even required or a law...what was the Boston Tea Party started over again????
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