ALTA  members  have to a large extent,  quit searching title, thereby eliminating the need to repair the numerous title defects out there.  It is easier to just insure over defects, time and time again.  Yet, ALTA claims there should be "sensible requirements for underwriting legal title to the collateral."    Since when is looking at the last deed of record and writing a title policy based on that a "sensible requirement for underwriting legal title?"  ALTA statement to Federal Regulators is a JOKE>

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